512 West Graves Avenue, Monterey Park, California 91754, Monterey Park, 91754 - 2 bed, 1 bath
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512 West Graves Avenue
Monterey Park, California 91754
ACTIVE
CONDITION: EXCELLENT
2Beds
1Baths
822Sq Ft
5,976Lot Size
Property Price
LIST PRICE$868,000
EST. MARKET VALUE
$879,029
SUMMARY
This ADU-Ready Single Family Residence is a Strong Value Opportunity, listed at $868,000—positioned well below the $879,029 Fair Market Value by 1%. This valuation gap offers $11,029 in Instant Equity. Featuring a Condition Rating of 2, the home is fully renovated with a modern kitchen and new HVAC. The property includes City-Approved ADU Plans for a 1,200 sq. ft. expansion, making it an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking multigenerational living potential.
Estimated Market Value
$879,029
Based on Realkey algorithm analyzing recent comparable sales in Monterey Park.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 512 West Graves Avenue Subject | $868,000* List Price | 2 | 1 | 822 | $1,069 | - |
A 715 W Graves Sold | $790,000 | 2 | 1 | 846 | $934 | 0.2 mi |
B 1816 Graylock Sold | $858,500 | 3 | 1 | 1,090 | $788 | 0.9 mi |
C 1718 S Mcpherrin Sold | $968,000 | 3 | 1 | 1,115 | $868 | 0.8 mi |
D 1034 Loma Verde Active | $730,000 List Price | 2 | 1 | 868 | $841 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although originally built in 1949, the property has undergone a recent full renovation including a completely remodeled kitchen and bathroom, new flooring, and updated electrical features like recessed lighting. The installation of a new split-system HVAC unit and the mint, move-in-ready condition of the interior indicate a renovation completed within the last 5 years.
PROSSTRENGTHS & OPPORTUNITIES
- ADU Development Ready
The property comes with city-approved plans and permits for a 1,200 sq. ft. ADU (3 bed/3 bath), providing a significant head start for investors or multigenerational families looking to add value.
- Turnkey Renovations
The home is move-in ready featuring extensive modern upgrades, including a fully remodeled kitchen and bathroom, new flooring, recessed lighting, and a new split-system HVAC unit.
- Generous Lot & Layout
The 5,976 sq. ft. lot is well-utilized with a private courtyard between the main house and future ADU site, offering rare outdoor privacy and functional expansion space in a dense urban area.
CONSRISKS & DEFICIENCIES
- Limited Primary Living Space
At only 822 square feet with a 2-bedroom, 1-bathroom configuration, the main residence is quite small and may not accommodate growing families without completing the proposed expansion.
- High Price per Square Foot
The list price of $868,000 represents a high price per square foot for the existing structure, placing a premium on the 'potential' of the ADU rather than the current finished living area.
About 512 West Graves Avenue
ADU-READY MONTEREY PARK OPPORTUNITY Beautifully renovated Monterey Park home offering 2 bedrooms, 1 bathroom, and 822 sq. ft. of move-in-ready living space on a generous 5,976 sq. ft. lot. Recent improvements include fresh interior and exterior paint, new flooring throughout, a new split-system unit in the living room, recessed lighting, ceiling fans with lights and remote controls, a fully remodeled kitchen, and an updated bathroom. The spacious backyard provides outstanding expansion potential, with city-approved plans and permits in place for a 1,200 sq. ft. ADU featuring 3 bedrooms and 3 bathrooms. An existing private courtyard between the main residence and the future ADU offers an ideal outdoor space for relaxing, entertaining, dining, or creating a peaceful retreat. This is an excellent opportunity for multigenerational living, potential rental income, or increased property value. Conveniently located near parks, shopping, dining, schools, and major freeways, this turnkey property combines modern upgrades, valuable outdoor space, and exceptional future potential in the heart of Monterey Park.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1949
- Lot Size
- 5,976 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.3 |
| Baths | 1.0 | 2.3 |
| Square foot | 822 | 1,713.872 |
| Lot Size | 5,976 | 7,587.426 |
| Price | $868.0K | $1.00M |
| Price per sq ft | $1.1K | $653 |
| Built year | 1949 | 1957 |
| HOA | $0 | $220 |
| Days on market | 2 | 47 |
Pricing History
Listed for Sale
Sep 7, 2026
$868,000
Initial Listing
Sold
Mar 4, 2026
$650,000
Public Record
Sold
Jul 23, 2018
$515,000
Public Record