Skip To Content

540 E Garvey Avenue

Monterey Park, CA 91755
  • $995,000
  • STATUS: Active Under Contract
  • ON SITE: 1553 Days
  • ID#: DW18071387
Under Contract
UPDATED: 205 min ago
$995,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,460
    SQFT
  • $404
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1945
County:

School Ratings & Info

Listing Agent(s): Christopher Comfort of Apex Properties (424-293-8085)


Description

The subject property consists of 3 retail units in the front building and 1 automotive unit in the rear building. The 4 total units are occupied by 3 tenants (the trophy tenant occupies 2 units). All tenants have been there longer than 10 years. All leases are NNN. All tenants are established and pay rent in a timely manner. Tenants have separate meters and the property is very easy to manage. Although there has been no vacancy at this location for over a decade, because of the small unit sizes (420 sf for the retail) the units are easy to keep rented. The property is well located on a corner in the desirable neighborhood of Monterey Park, CA. One of the tenants has a 8.5% rental increase coming up later this year. The property could also be a good fit for an owner user because 65% of the building will be on a month to month term by the end of 2018. Parking in the rear of the lot as well.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-30T00:30:13.847. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
www.sellinglasouthbay.com/homes/82119902
Print Image

540 E Garvey Avenue Monterey Park, CA 91755

  • Price: $995,000
  • Status: Active Under Contract
  • On Site: 1553 Days
  • Updated: 205 min ago
  • ID#: DW18071387
0
Beds
0
Baths
0
½ Baths
0.14
Acres
2,460
SQFT
$404
$/SQFT
1945
Built
Neighborhood:
641 - Monterey Park
County:
Los Angeles
Area:
641 - Monterey Park
Property Description
The subject property consists of 3 retail units in the front building and 1 automotive unit in the rear building. The 4 total units are occupied by 3 tenants (the trophy tenant occupies 2 units). All tenants have been there longer than 10 years. All leases are NNN. All tenants are established and pay rent in a timely manner. Tenants have separate meters and the property is very easy to manage. Although there has been no vacancy at this location for over a decade, because of the small unit sizes (420 sf for the retail) the units are easy to keep rented. The property is well located on a corner in the desirable neighborhood of Monterey Park, CA. One of the tenants has a 8.5% rental increase coming up later this year. The property could also be a good fit for an owner user because 65% of the building will be on a month to month term by the end of 2018. Parking in the rear of the lot as well.
Exterior Features

Lot Features Street Level

Property Features

Additional Parcels YN No Cap Rate 5.05 Insurance Expense 1428 Laundry Features None Listing Agreement Exclusive Right To Sell Maintenance Expense 1200 Net Operating Income 51780 Number Of Units Leased 4 Other Expense 1200 Property Sub Type Retail Special Listing Conditions Standard Water Sewer Expense 750 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-30T00:30:13.847. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_309465439-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_309465439-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_309465439-1.jpg
Logo
Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay
23670 Hawthorne Blvd. #100
Torrance CA, 90505
Listing Agent(s): Christopher Comfort of Apex Properties (424-293-8085)