523 N Lincoln
Property Description
Prime Monterey Park Investment Opportunity! Ideally situated in the heart of Monterey Park, just minutes from the Garfield Avenue and I-10 Freeway interchange, this exceptional income property offers a rare combination of location, scale, and value-add potential. The property features four separate buildings with five units, including two 3 bedroom, 2 bath and three 2 bedroom, 1 bath units, providing a versatile unit mix appealing to a broad range of tenants. Expansive 17,172 square foot lot with approximately 5,293 square feet of building area offers impressive scale and potential for long-term value appreciation. A total of 12 parking spaces and Four garages provides exceptional parking convenience. All five units are individually metered for gas and electricity, offering added convenience for utility management. Zoned R3, the property may offer future multi-unit development potential, subject to city regulations and approvals. Current rents are below market, presenting an estimated rental upside of over 30% and an excellent opportunity to increase income through strategic rent adjustments. The property underwent seismic retrofitting in 2011. With its expansive lot, versatile five-unit configuration, and significant rental upside, this is a compelling value-add investment with exceptional potential. Don't miss this rare opportunity to unlock the full value of a high-potential income property in one of Monterey Park's most desirable locations!
Broker Details
US National Realty (626) 382-1688
MLS ID: WS81749 State License Number: 02053015
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,980,000 |
| No. of Units: | 5 |
| Year Built: | 1957 |
| Lot Size: | 5,293.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $596,000 |
| Number of Bedrooms: | 12 |
| Number of Bathrooms: | 7 |
ID: 3yd-MRMLSCA-WS26234770
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
65-, 67, 71 ,73 College Drive
Ventura, California
908 E Maple, Unit 0
Glendale, California
908 E Maple, Unit 0
Glendale, CaliforniaBrokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout