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1314 W 1st Street, Monterey Park, California 91754, Monterey Park, 91754 - bed, bath

1314 W 1st Street, Monterey Park, California 91754 home-pic-0
ACTIVE$1,780,000
1314 W 1st Street, Monterey Park, California 91754
0Bed
0Bath
3,080Sqft
13,314Lot
Year Built
1945
Close
-
List price
$1.78M
Original List price
$1.88M
Price/Sqft
$578
HOA
-
Days on market
-
Sold On
-
MLS number
AR25098241
Home ConditionPoor
Features
Patio
ViewBack Bay,Courtyard,Neighborhood

About this home

Possibly Over-Priced:The estimated price is 44% below the list price. We found 3 Cons,6 Pros. Rank: price - $1.78M(94th), sqft - 3080(92th), beds - undefined(2th), baths - undefined(2th).

This beautifully maintained courtyard garden property offers many potential investment and development opportunities. Consisting of two legal parcels (5251-030-008 and 5251-030-007) totaling 13,314 SQUARE FEET, there are two duplex structures containing 4 single-story units organized around a manicured central garden with fruit tree on the grounds. Each unit is 720 square feet each with the unit numbers 1302, 1306, 1310, 1314. Each duplex consists (2) Two Bedroom (2) one Bath, washer dryer hook up. Two detached garages containing 5 total parking spaces sit at the rear of the lot with alleyway access keeping the gardens free from vehicles. All tenants are long term tenants, have never missed any rent payments. This property is conveniently located at the commercial hub of Atalntic Blvd and 60 fwy, with quick access to daily errands, recreation, and work. East L.A College is 5 minutes away. The two parcels will be sold together under one transaction.

Condition Rating
Poor
Built in 1945, this property's interior, particularly the kitchen and bathrooms, is severely outdated. The kitchen features yellow laminate countertops, yellow tile backsplash, older white cabinets, and dated white appliances, along with a window AC unit. The living and dining areas have old green shag carpeting and basic, outdated light fixtures. While the exterior appears maintained, the interior requires substantial capital investment for modernization and system upgrades, including a complete overhaul of the kitchen and bathrooms, and likely the replacement of flooring and the addition of central cooling/heating. This aligns with the 'poor' category, indicating a need for substantial rehabilitation to meet current standards.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13314, living area = 3080.
Investment & Development Potential: The property consists of two legal parcels totaling 13,314 square feet, offering significant potential for future investment or redevelopment opportunities.
Multiple Income-Generating Units: Comprising two duplex structures with four single-story units, this property provides a robust and diversified income stream for investors.
Stable & Reliable Tenancy: All current tenants are long-term and have a perfect rent payment history, ensuring immediate and consistent cash flow with minimal vacancy risk.
Prime Location & Accessibility: Strategically located at a commercial hub near Atlantic Blvd and the 60 Fwy, offering excellent access to daily errands, recreation, work, and East L.A. College.
Ample & Convenient Parking: Features two detached garages with 5 total parking spaces and alleyway access, a valuable amenity that enhances tenant convenience and property appeal.

Cons

Age of Property & Required Updates: Built in 1945, the property is older and likely requires substantial capital investment for modernization, deferred maintenance, and potential system upgrades to meet current market expectations.
Significant Discrepancy in Valuation: The listing price is considerably higher than the property's estimated value (estimation ratio -44%), suggesting potential overpricing or a need for a detailed valuation justification to prospective buyers.
Compact Unit Sizes & Limited Bathrooms: Each unit is relatively small at 720 square feet and features only one bathroom, which may limit appeal to certain tenant demographics or restrict rental income growth compared to properties with larger or multi-bathroom units.

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