346 E Graves Avenue, Monterey Park, California 91755, Monterey Park, 91755 - bed, bath
ACTIVE$1,200,000
346 E Graves Avenue, Monterey Park, California 91755
0Bed
0Bath
2,041Sqft
9,928Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multi-Unit Income Potential: The property is a triplex, consisting of two 1-bedroom units and one 3-bedroom/2-bathroom unit, offering significant rental income generation and owner-occupancy flexibility.
Top Cons:
Advanced Age of Property: Built in 1944, the property is likely to require significant capital expenditure for system upgrades (e.g., plumbing, electrical, HVAC) and general modernization to meet contemporary standards and tenant expectations.
Compared to the nearby listings
Price:$1.20M vs avg $1.30M ($-100,000)50%
Size:2,041 sqft vs avg 5,757 sqft50%
Price/sqft:$588 vs avg $36850%
More Insights
Built in 1944 (81 years old).
Condition: Built in 1944, this property is significantly aged. The listing explicitly notes the 'Advanced Age of Property' and the likelihood of requiring 'significant capital expenditure for system upgrades (e.g., plumbing, electrical, HVAC) and general modernization.' It also mentions 'Potential for Deferred Maintenance/Renovation Needs' and 'substantial investment in repairs, updates, and cosmetic improvements.' The exterior images show an older structure with visible window AC units, confirming outdated cooling systems. Without any interior photos, and given the strong language in the weaknesses section, it's highly probable that the kitchen and bathrooms are severely outdated and require substantial renovation, along with major system overhauls. While it's currently income-generating, it requires significant rehabilitation to meet contemporary standards.
Year Built
1944
Close
-
List price
$1.2M
Original List price
$1.4M
Price/Sqft
$588
HOA
-
Days on market
-
Sold On
-
MLS number
PW25162763
Home ConditionPoor
Features
Good View:
Patio
View-
About this home
Great location in Monterey Park perfect owner occupancy with rental income generated, possible addition for standard ADU, large lot , long driveway, currently consisting of 3 units - Duplex of 1 bedroom each in the front and good size home of 3 bedrooms with 2 bathrooms with open patio or use for carport and there are plenty of space for parking enough for all the units. Priced for quick sale.
Condition Rating
Poor
Built in 1944, this property is significantly aged. The listing explicitly notes the 'Advanced Age of Property' and the likelihood of requiring 'significant capital expenditure for system upgrades (e.g., plumbing, electrical, HVAC) and general modernization.' It also mentions 'Potential for Deferred Maintenance/Renovation Needs' and 'substantial investment in repairs, updates, and cosmetic improvements.' The exterior images show an older structure with visible window AC units, confirming outdated cooling systems. Without any interior photos, and given the strong language in the weaknesses section, it's highly probable that the kitchen and bathrooms are severely outdated and require substantial renovation, along with major system overhauls. While it's currently income-generating, it requires significant rehabilitation to meet contemporary standards.
Pros & Cons
Pros
Multi-Unit Income Potential: The property is a triplex, consisting of two 1-bedroom units and one 3-bedroom/2-bathroom unit, offering significant rental income generation and owner-occupancy flexibility.
ADU Development Potential: The description explicitly mentions the 'possible addition for standard ADU,' providing a clear opportunity for future value appreciation and increased rental income.
Generous Lot Size: With a substantial lot size of 9,928 sqft, there is ample space for potential expansion, outdoor amenities, or further development.
Ample Parking: The property features a long driveway and space for a carport/open patio, ensuring plenty of parking for all units, which is a significant advantage for multi-unit properties.
Desirable Location: Located in Monterey Park, a well-regarded area, the property benefits from strong rental demand and potential for sustained property value.
Cons
Advanced Age of Property: Built in 1944, the property is likely to require significant capital expenditure for system upgrades (e.g., plumbing, electrical, HVAC) and general modernization to meet contemporary standards and tenant expectations.
Significant Price Reductions: The listing has undergone multiple price drops from $1.399M to $1.2M, coupled with the 'Priced for quick sale' note, which may indicate challenges in market appeal, initial overpricing, or potential underlying issues that could deter buyers.
Potential for Deferred Maintenance/Renovation Needs: Given its age and the lack of explicit mention of recent renovations, the property likely requires substantial investment in repairs, updates, and cosmetic improvements to maximize rental income and property value.