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540 E Garvey AvenueMonterey Park, CA 91755Price: $995,000

  • Price: $995,000
  • 1270 Days on Market
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Federal 30-year interest rate: 2.86% last updated on Sep 16, 2021
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This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $995,000List Price
  • 0.14Acreage

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Listed by Christopher Comfort of Apex Properties
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.

Property Details of 540 E Garvey Avenue

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 "Based on information submitted to CA_CRMLS as of September 18, 2021 11:54 AM EDT . 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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