Monterey Park, CA 91754,640 W Riggin ST
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Monterey Park, CA 91754,640 W Riggin ST
Monterey Park, CA 91754,640 W Riggin ST
Monterey Park, CA 91754,640 W Riggin ST
Monterey Park, CA 91754,640 W Riggin ST

$1,135,000

Est. payment /mo

$1,195,000

5.0%
Est.Price: ?

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640 W Riggin ST Monterey Park, CA 91754

6,939 Sqft Lot

SOLD DATE : 09/12/2024

Key Details

Sold Price $1,135,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

MLS Listing ID CV24158193

Sold Date 09/12/24

HOA Y/N No

Year Built 1948

Lot Size 6,939 Sqft

Property Description

We 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.

Location

State CA

County Los Angeles

Area 641 - Monterey Park

Zoning MPR2*

Interior

Fireplace No

Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside

Exterior

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Curbs, Gutter(s), Sidewalks

Total Parking Spaces 3

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5266007009

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Kristopher German • RE/MAX 2000 REALTY • 909-645-0443
Bought with AMY LI • CANDET PROPERTIES, INC.

Dan Parker

Team Lead | License ID: 02043651

+1(619) 719-1122

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