524 E Mission Road, Monterey Park, California 91776, Monterey Park, 91776 - bed, bath

524 E Mission Road, Monterey Park, California 91776 home-pic-0
ACTIVE$998,000
524 E Mission Road, Monterey Park, California 91776
0Bed
0Bath
2,369Sqft
5,097Lot
Year Built
1924
Close
-
List price
$998K
Original List price
$998K
Price/Sqft
$421
HOA
-
Days on market
-
Sold On
-
MLS number
CV25163568
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $998.0K(22th), sqft - 2369(56th), beds - undefined(50th), baths - undefined(50th).

Mixed-Use Property with Business Opportunity | 524 E Mission Rd & 521 E Grand Ave, San Gabriel A rare find in San Gabriel—this STRS & RES zoned corner lot features two detached structures totaling approx. 2,369 sqft on a 5,097 sqft lot, offering both residential and commercial income potential. La Paloma Market (524 E Mission Rd): Approx. 1,553 sqft of retail space, currently operating as La Paloma Market. Includes a beer license and was previously authorized to sell lottery tickets. The business opportunity is included in the sale. Under-managed due to the seller’s retirement plans—ideal for a hands-on investor or owner-user to modernize and unlock the store’s full potential. High visibility with existing signage and walk-in traffic. Residential Unit (521 E Grand Ave): A separate 2-bedroom, 1-bath home with approx. 816 sqft of living space and its own address and private entrance. Perfect for generating rental income or owner occupancy. Prime Location: Situated near the busy intersection of Mission Rd and San Gabriel Blvd, in close proximity to the San Gabriel Mission, Historic Mission District, and just minutes from Arcadia, Alhambra, and San Gabriel Square. Surrounded by dense residential neighborhoods, local schools, and thriving commercial corridors. Excellent exposure to both vehicular and pedestrian traffic. This is a rare chance to own and operate in one of the San Gabriel Valley’s most desirable and culturally rich neighborhoods. Whether you’re an entrepreneur looking to take over a long-standing business or an investor seeking dual-income potential, this property delivers.

Condition Rating
Fair

The property was built in 1924. The images show the retail space and the exterior of the residential unit. The retail space appears functional but dated. The residential unit's exterior shows some wear. Given the age and the apparent lack of recent major renovations visible in the images, a 'fair' condition score is appropriate. It likely requires some updates.
Pros & Cons

Pros

Dual Income Potential: The property offers both residential and commercial income streams, providing a diversified revenue opportunity.
Prime Location: Located near the intersection of Mission Rd and San Gabriel Blvd, offering high visibility and traffic.
Business Opportunity Included: The sale includes the La Paloma Market business, presenting an immediate operational opportunity.
STRS & RES Zoning: The property is zoned for both commercial and residential use, maximizing its flexibility and potential.
Separate Residential Unit: The 2-bedroom residential unit provides a separate living space for rental income or owner occupancy.

Cons

Under-Managed Business: The existing business is under-managed, requiring a hands-on approach to realize its full potential.
Older Building (1924): The property was built in 1924, potentially requiring updates and maintenance to meet modern standards.
Potential Renovation Needs: The retail space may require modernization to attract a wider customer base and increase revenue.

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