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308 N Nicholson AvenueMonterey Park, CA 91755Price: $3,950,000

  • Price: $3,950,000
  • Est. Mortgage of $/month
  • 47 Days on Market
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Federal 30-year interest rate: 3.11% last updated on Dec 2, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $3,950,000List Price
  • 0.39Acreage

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Listed by Kristin Neithercut and Craig Strong of Compass
We are pleased to present the opportunity to acquire 308 North Nicholson Avenue, a 10-unit multifamily asset in Monterey Park, a core market in the San Gabriel Valley. This 10 unit complex has a desirable location fundamentals minimize lease-up time and offers a new investor high rental potential with a stable resident profile. This strategically located, two-story structures were was built in 1976 and consists of 1 three-bedroom/two-bathroom units, 4 two-bedroom/one-bathroom units, and 5 two-bedroom/two-bathroom units. It offers 10 covered parking spaces and 10 surface parking spaces for a total of 2 parking spaces per unit. There are leased laundry machines providing ease of management. The properties are individually metered for gas and electricity. There is also a 1,000 SF garage structures towards the back of the property that offer Accessory Dwelling Unit (ADU) potential under new AB68 law. This is a rare opportunity for an investor to acquire a generational asset with an irreplaceable location and that has been well-maintained yet positioned for future renovation.***Also available is the next door sister property: 314 Nicholson. Inquire for info to purchase both properties together. 20 Units, 2 garage structures, $7,900,000

Property Details of 308 N Nicholson Avenue

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 "Based on information submitted to CA_CRMLS as of December 4, 2021 11:53 PM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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