Mike Chou
K.W. EXECUTIVE
(626) 653-4295
172 Total Sales
23 in Monterey Park
$446K - $1.7M Price Range
640 W Riggin St Monterey Park, CA 91754
Monterey Park AreaEstimated Value: $1,095,000 - $1,161,699
5
Beds
3
Baths
2,442
Sq Ft
$460/Sq Ft
Est. Value
About This Home
As of September 2024We are pleased to exclusively offer for sale this 3 Unit multi-family property for sale in the prime rental location of Monterey Park. Strategically positioned within walking distance to Atlantic Square, residents enjoy easy access to a variety of restaurants and shopping outlets, along with proximity to the metro station, ensuring convenient transportation options. The subject property features a desirable unit mix of two 2-Bedroom/1-Bathroom units and one single-story 1-Bedroom/1-Bathroom unit. The property encompasses 2,442 rental square feet on a 6,941 square foot lot. Tenants are afforded an array of attractive amenities including garage parking, interior laundry hookups, and a shared picnic area, enhancing the quality of life and rental appeal. Each unit is responsible for their electricity and gas, optimizing cost efficiency for the owner. The property has been updated to copper plumbing as well. With a significant potential for a 20+% increase in rental income, this property stands out as an exceptional investment with promising upside in a dynamic rental market. Perfect for investors seeking a property in a high-demand area with strong growth potential and tenant amenities that drive competitive rental rates.
Last Agent to Sell the Property
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 08/01/2024
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1948
Lot Details
- 6,941 Sq Ft Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Parking
- 3 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 2,442 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 5 Bedrooms
- 3 Bathrooms
Laundry
- Laundry in unit
- Washer and Gas Dryer Hookup
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 45
- Tax Tract Number 14542
- Assessor Parcel Number 5266007009
- $752 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 3 Units
Amenities
- Laundry Facilities
Building Details
- 3 Leased Units
- Rent Control
- 3 Separate Electric Meters
- 3 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $3,000
- Maintenance Expense $1,500
- Trash Expense $780
- Water Sewer Expense $1,440
- New Taxes Expense $15,465
- Operating Expense $22,185
- Gross Income $61,860
- Net Operating Income $37,819
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 1, 2024
Closed on
Aug 30, 2024
Sold by
Bought by
Seller's Agent
Kristopher German
RE/MAX 2000 REALTY
Buyer's Agent
Amy Li
CANDET PROPERTIES, INC.
List Price
$1,195,000
Sold Price
$1,135,000
Premium/Discount to List
-$60,000
-5.02%
Views
13
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$12,325
Avg. Annual Appreciation
-0.57%
Purchase Details
Closed on
May 24, 2001
Sold by
Bought by
Purchase Details
Closed on
Apr 23, 2001
Sold by
Bought by
Purchase Details
Closed on
Sep 10, 1999
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Monterey Park, CA
-
Mike Chou
-
Nicola Speranta
Nicola Speranta
Compass
(323) 310-3215
100 Total Sales
1 in Monterey Park
$1,111,000 Price
-
Venny Saucedo
Venny Saucedo
eXp Realty of Greater L.A
(424) 349-4410
45 Total Sales
1 in Monterey Park
$920,000 Price
-
Kay Lee
Kay Lee
Circa Properties, Inc.
(714) 410-6567
110 Total Sales
2 in Monterey Park
$980,000 Price Range
-
Giusy Mele-Brown
Giusy Mele-Brown
BHHS California Properties
(626) 313-3578
58 Total Sales
2 in Monterey Park
$1.1M - $1.4M Price Range
-
Marcille Dilsaver Hughes
Marcille Dilsaver Hughes
BHHS California Properties
(323) 310-4703
40 Total Sales
1 in Monterey Park
$1,240,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| -- | Chicago Title Company | ||
| $1,135,000 | Chicago Title Company | ||
| $295,000 | American Title Co | ||
| -- | American Title Co | ||
| -- | American Title |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $500,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/12/2024 09/12/24 | Sold | $1,135,000 | -5.0% | $465 / Sq Ft |
| 08/13/2024 08/13/24 | Pending | -- | -- | -- |
| 08/01/2024 08/01/24 | For Sale | $1,195,000 | -- | $489 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $15,006 | $1,135,000 | $735,000 | $400,000 |
| 2024 | $6,271 | $435,782 | $227,494 | $208,288 |
| 2023 | $6,281 | $427,238 | $223,034 | $204,204 |
| 2022 | $6,075 | $418,861 | $218,661 | $200,200 |
| 2021 | $5,868 | $410,649 | $214,374 | $196,275 |
| 2019 | $5,650 | $398,470 | $208,016 | $190,454 |
| 2018 | $5,736 | $390,658 | $203,938 | $186,720 |
| 2016 | $5,527 | $375,490 | $196,020 | $179,470 |
| 2015 | $5,204 | $369,851 | $193,076 | $176,775 |
| 2014 | $5,147 | $362,607 | $189,294 | $173,313 |
Source: Public Records
Agents Affiliated with this Home
-
Kristopher German
Seller's Agent in 2024
Kristopher German
RE/MAX
(909) 645-0443
127 Total Sales
-
Amy Li
A
Buyer's Agent in 2024
Amy Li
CANDET PROPERTIES, INC.
(626) 281-9338
8 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV24158193
APN: 5266-007-009
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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