524 E Mission Road, Monterey Park, California 91776, Monterey Park, 91776 - 2 bed, 2 bath

524 E Mission Road, Monterey Park, California 91776 home-pic-0
ACTIVE$998,000
524 E Mission Road, Monterey Park, California 91776
2Beds
2Baths
2,369Sqft
5,097Lot
Year Built
1924
Close
-
List price
$998K
Original List price
$998
Price/Sqft
$421
HOA
-
Days on market
-
Sold On
-
MLS number
CV25163646
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $998.0K(22th), sqft - 2369(56th), beds - 2(67th), baths - 2(67th).

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 commercial space and residential unit. The commercial space appears dated and requires modernization. The residential unit is not clearly shown, but given the age of the property, it likely needs updates. Overall, the property appears to be aged but maintained, fitting the 'fair' condition.
Pros & Cons

Pros

Dual Income Potential: The property offers both residential and commercial income streams, providing a diversified revenue opportunity.
Business Opportunity Included: The sale includes the La Paloma Market business, offering immediate operational income and potential for growth.
Prime Location: Located near the intersection of Mission Rd and San Gabriel Blvd, with high visibility and traffic in a desirable area.
STRS & RES Zoning: The property is zoned for both commercial and residential use, providing flexibility and potential for various business ventures.
High Foot Traffic: The location benefits from significant pedestrian traffic, enhancing the market's customer base and visibility.

Cons

Under-Managed Business: The existing business is described as under-managed, requiring a hands-on owner to modernize and maximize its potential.
Older Building (1924): The property was built in 1924, which may require updates or renovations to meet modern standards and building codes.
Competition: The property is located in a dense commercial area, which means there is likely to be competition from other businesses.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state