NOT LISTED FOR SALE

714 E Newmark Ave Monterey Park, CA 91755

Estimated Value: $2,277,000 - $3,092,226

12 Beds
6 Baths
5,270 Sq Ft
$509/Sq Ft Est. Value

Last Sold May 11, 2016

Last sale price $1,850,000 $351 Per Sq Ft

Est. 45% increase in value since last sale

Current estimated payment $16,694/month

24 Days on Market

Highlights

  • 18,821 Sq Ft lot
  • North Facing Home
  • 1-Story Property
  • Monterey Vista Elementary School Rated A-

About This Home

As of May 2016

We are pleased to present for sale 6 Single Story Cottage Style Units. This is the first time the property has been offered for sale in over 20 years! The unit mix consists of all 2 bedroom 1 bath units approximately 878 square feet each situated on a large 18,821 square foot lot. The units do not share any walls as they are separated by the garages. There are a total of 16 parking spots with 8 garages and 8 uncovered spaces. All units have laundry hook-ups inside and each unit has a separate water heater. All units are separately metered for gas and electricity. The property is located in a highly desirable Monterey Park location - walking distance to Garvey Avenue. The city of Monterey Park is well known for having a strong rental market with a history of high occupancy rates.

Last Agent to Sell the Property

Shant Sherbetdjian

Remax Commercial and Investment Realty License #01713570 Listed on: 03/07/2016

Remax Commercial and Investment Realty

Last Buyer's Agent

KRISTOPHER GERMAN

License #01800021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $30,025

Year Built

  • Built in 1963

Lot Details

  • 0.43 Acre Lot
  • North Facing Home

Parking

  • 8 Car Garage

Interior Spaces

  • 5,270 Sq Ft Home
  • 1-Story Property
  • Electric Dryer Hookup

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening

Community Details

  • 3 Buildings
  • 6 Units

Listing and Financial Details

  • Assessor Parcel Number 5259-008-055

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$30,025

Year Built

Built in 1963

Lot Details

0

Parking

8

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Living Area: 5270
  • Stories: 1
  • Year Built: 1963
  • Number Of Photos: 4
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 12
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 6.00
  • Den: 0
  • Equipment: Electric Dryer Hookup
  • Price Per S Q F T: 365.28

Exterior Features

  • Direction Faces: North
  • Tennis Court Y/N: No
  • Construction: Wood Frame
  • Paved: Yes
  • Pool: No
  • View: No

Garage/Parking

  • Garage Spaces: 8
  • Other Spaces: 8
  • Covered Parking: 8
  • Parking Garage: Garage - 1 Car
  • Total Parking: 16

Utilities

  • Cooling: Wall Unit(s)
  • Number Electric Meters: 6
  • Number Gas Meters: 6
  • Water Expense: 2505.00
  • Water Heaters: Yes

Fee Information

  • Insurance Expense: 2197.00
  • Trash Expense: 2722.00

Lot Info

  • Assessed Improvement Value: 429611
  • Assessed Land Value: 762560
  • Assessor Parcel Number: 5259-008-055
  • Geocode Override: No
  • Lot Size Area: 18821

Rental Info

  • Rent Control: No

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111
  • Number Of Units: 6
  • Number Wall A C: 6
  • Rent Control: 0
  • Total Annual Expense: 40575
  • Type Of Units: APT
  • Vacancy Rate: 0

Tax Info

  • Tax Expense: 23677.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 7, 2016
Closed on
Apr 19, 2016
Sold by
Showalter George D and Showalter Barbara J
Bought by
Asto1 Llc
Seller's Agent
Shant Sherbetdjian
Remax Commercial and Investment Realty
Buyer's Agent
KRISTOPHER GERMAN
List Price
$2,088,000
Sold Price
$1,850,000
Premium/Discount to List
-$238,000
-11.4%
Current Estimated Value
$2,684,613

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$834,613
Avg. Annual Appreciation
4.02%
Original Mortgage
$775,000
Outstanding Balance
$616,296
Interest Rate
3.71%
Mortgage Type
Commercial
Estimated Equity
$2,068,317

Purchase Details

Closed on
Aug 19, 2009
Sold by
Showalter George D
Bought by
Showalter George D and Showalter Barbara J

Purchase Details

Closed on
Apr 12, 2008
Sold by
Stucky Jennie A
Bought by
Stucky Jennie A and Jennie A Stucky Trust
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Asto1 Llc $1,850,000 Commonwealth Land Title
Showalter George D -- None Available
Showalter George D -- None Available
Stucky Jennie A -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Asto1 Llc $775,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/11/2016 05/11/16 Sold $1,850,000 -11.4% $351 / Sq Ft
03/31/2016 03/31/16 Pending -- -- --
03/07/2016 03/07/16 For Sale $2,088,000 -- $396 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

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 $30,025 $2,190,018 $1,479,744 $710,274
2024 $30,025 $2,147,078 $1,450,730 $696,348
2023 $29,046 $2,104,980 $1,422,285 $682,695
2022 $27,749 $2,063,707 $1,394,398 $669,309
2021 $27,630 $2,023,243 $1,367,057 $656,186
2019 $26,614 $1,963,234 $1,326,510 $636,724
2018 $26,298 $1,924,740 $1,300,500 $624,240
2016 $16,215 $1,210,351 $774,189 $436,162
2015 $15,910 $1,192,171 $762,560 $429,611
2014 $15,728 $1,168,819 $747,623 $421,196
Source: Public Records

Agents Affiliated with this Home

  • K

    Buyer's Agent in 2016

    KRISTOPHER GERMAN

See All Agents

Map

Source: The MLS

MLS Number: 16-104306

The MLS

APN: 5259-008-055

California Los Angeles County Monterey Park 91755

714 E Newmark Ave, Monterey Park, CA

This home is located at 714 E Newmark Ave, Monterey Park, CA 91755 since 07 March 2016 and is currently estimated at $2,684,613, approximately $509 per square foot. This property was built in 1963. 714 E Newmark Ave is a home located in Los Angeles County with nearby schools including Monterey Vista Elementary School, Garvey (Richard) Intermediate School, and Mark Keppel High School.

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