615 El Mercado Avenue, Monterey Park, California 91754, Monterey Park, 91754 - 5 bed, bath

615 El Mercado Avenue, Monterey Park, California 91754 home-pic-0
ACTIVE$1,398,000
615 El Mercado Avenue, Monterey Park, California 91754
5Beds
0Bath
2,507Sqft
7,109Lot

Price Vs. Estimate

The estimated value ($1,309,340.9) is $88,659.1 (6%) lower than the list price ($1,398,000). This property may be overpriced.

Key pros and cons

Top Pros:
ADU Potential: The property includes a permitted 821 SqFt ADU with a separate living space, kitchen, and bathroom, offering potential for rental income or multi-generational living.
Top Cons:
Older Construction: Built in 1940, the property may require ongoing maintenance and potential upgrades compared to newer constructions.

Compared to the nearby listings

Price:$1.40M vs avg $981.5K (+$416,500)87%
Size:2,507 sqft vs avg 1,417.5 sqft85%
Price/sqft:$558 vs avg $67027%

More Insights

Built in 1940 (85 years old).
Condition: The property was built in 1940. The main house kitchen has new flooring, granite countertops, and stainless steel appliances, but the style is somewhat dated. The bathrooms appear functional but not recently renovated. The ADU is newly built, which improves the overall condition. The presence of refinished hardwood floors and new light fixtures suggests some updating, but the age of the original structure keeps it from a higher rating.
Year Built
1940
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$558
HOA
-
Days on market
-
Sold On
-
MLS number
AR25033067
Home ConditionFair
Features
Patio
View-

About this home

LOCATION! LOCATION! LOCATION! Centrally located in Monterey Park, this bright and airy home offers an impressive amount of space in the best schools within Alhambra Unified School District. The main house has 4 bedrooms, den and 2 bathrooms approx. 1,686 SqFt plus an approx. 821 SqFt permitted ADU with 1 bedroom, den and 2 bathrooms. The immaculate home boasts an open and inviting living and dining room with newly refinished original hardwood floors, crown molding and wainscoting. Handsome brick-faced fireplaces in the living room and den. The galley kitchen offers new flooring, granite countertops, stainless steel gas range, ample cabinetry and storage space. Off the kitchen is a bathroom and laundry area. One bedroom has its own entrance. The newly built ADU features additional living space separate from the main house, spacious living/dining area, kitchen, laundry area, den, one bedroom suite and two bathrooms, perfect for family, friends, or rental income. Other highlights of the property include newly painted interiors, double-pane windows, new window blinds, new light fixtures, gated low maintenance backyard with alley access. Enjoy this great location close to all necessities near Monterey Park Mall, Barnes Park, Brightwood Elementary School, East Los Angeles College, Monterey Park Hospital, public transportation and the 60, 710 and 10 Freeways. This property is a rare find for both investors and homebuyers!

Condition Rating
Fair

The property was built in 1940. The main house kitchen has new flooring, granite countertops, and stainless steel appliances, but the style is somewhat dated. The bathrooms appear functional but not recently renovated. The ADU is newly built, which improves the overall condition. The presence of refinished hardwood floors and new light fixtures suggests some updating, but the age of the original structure keeps it from a higher rating.
Pros & Cons

Pros

ADU Potential: The property includes a permitted 821 SqFt ADU with a separate living space, kitchen, and bathroom, offering potential for rental income or multi-generational living.
Prime Location: Centrally located in Monterey Park, close to schools, shopping (Monterey Park Mall), parks (Barnes Park), East Los Angeles College, Monterey Park Hospital, public transportation, and freeways (60, 710, and 10).
Updated Features: The property boasts newly refinished hardwood floors, new flooring in the kitchen, granite countertops, stainless steel gas range, new interior paint, double-pane windows, new window blinds, and new light fixtures.

Cons

Older Construction: Built in 1940, the property may require ongoing maintenance and potential upgrades compared to newer constructions.
Small Lot Size: The lot size of 7,109 SqFt is relatively small, potentially limiting outdoor space and expansion possibilities.

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