623 N Chandler, Monterey Park, California 91754 home-pic-0

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ACTIVE$835,000$690/sqft

623 N Chandler, Monterey Park, California 91754

2Beds

1Bath

690Sqft

6,173Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:

Exceptional Mixed-Use Development Potential: The property offers rare mixed-use zoning, allowing for diverse development pathways including up to three residential units or a commercial/residential project, providing exceptional flexibility.

Top Cons:

Age of Existing Structure: Built in 1924, the current 690 sqft structure is very old, likely requiring significant renovation or demolition for any new development, adding to initial costs.

Compared to the nearby listings

Price:$835.0K vs avg $950.0K ($-115,000)25%

Size:690 sqft vs avg 1,382 sqft4%

Price/sqft:$1.2K vs avg $69198%

More Insights

Built in 1924 (102 years old).

Condition: Built in 1924, the existing 690 sqft structure is 100 years old. The kitchen features extremely outdated cabinets, tiled countertops, and an old light fixture, indicating a lack of significant renovation for decades. The MLS description and AI analysis explicitly state the property's value is primarily in its development potential, suggesting the existing structure has 'limited intrinsic value for immediate occupancy without substantial upgrades or redevelopment' and is 'likely requiring significant renovation or demolition.' This aligns with the 'tear-down' criteria where the property's value is based solely on the land and its potential for redevelopment, as the structure itself is beyond practical repair for modern living without extensive, costly work.

Year Built

1924

List price

$835K

Original List price

$835K

Price/Sqft

$1,210

HOA

Days on market

Sold On

MLS number

TR26007907

Home ConditionTear down

Features

Patio

View-

About this home

Exceptional Mixed-Use Development Opportunity in the Heart of Monterey Park Located just behind the vibrant Times Square of Monterey Park, 623 N Chandler Blvd, Monterey Park offers a truly rare and highly sought-after property with mixed-use zoning, a type of opportunity that is increasingly difficult to find in today’s market. The property presents multiple potential development pathways, providing exceptional flexibility for investors, developers, and owner-users. Possible configurations may include: Development of up to three (3) residential units with full residential use. A commercial and residential mixed-use project, allowing for diversified income potential. Whether envisioned as a residential development or a mixed-use asset, this property stands out for its strong rental income potential and long-term value. Its prime location, consistent demand, and versatile zoning make it well-positioned for attractive rental returns. Surrounded by shops, dining, offices, and everyday conveniences, the site enjoys excellent walkability, strong foot traffic, and a highly central location, appealing to residential tenants, business operators, and mixed-use investors alike. Opportunities of this nature—combining premium location, zoning flexibility, and income potential—are exceptionally rare in Monterey Park. An outstanding choice for developers, investors, or owner-users seeking to capitalize on a one-of-a-kind property in a thriving urban core. For owner-users, the property also offers an appealing live-and-income potential. An owner may choose to occupy one unit while exploring the possibility of developing an additional unit to generate stable rental income, creating a balanced opportunity for personal use and long-term cash flow.

Grace Zhang

Listing Agent

Condition Rating

Tear down

Built in 1924, the existing 690 sqft structure is 100 years old. The kitchen features extremely outdated cabinets, tiled countertops, and an old light fixture, indicating a lack of significant renovation for decades. The MLS description and AI analysis explicitly state the property's value is primarily in its development potential, suggesting the existing structure has 'limited intrinsic value for immediate occupancy without substantial upgrades or redevelopment' and is 'likely requiring significant renovation or demolition.' This aligns with the 'tear-down' criteria where the property's value is based solely on the land and its potential for redevelopment, as the structure itself is beyond practical repair for modern living without extensive, costly work.

Pros & Cons

Pros

Prime & Central Location: Situated behind Monterey Park's vibrant Times Square, benefiting from excellent walkability, strong foot traffic, and proximity to shops, dining, and everyday conveniences.

High Rental Income & Long-Term Value: Positioned for strong rental income potential and long-term value appreciation due to its versatile zoning, consistent demand, and diversified income opportunities.

Rare Market Opportunity: Described as a truly rare and highly sought-after property, combining premium location, zoning flexibility, and income potential, which is exceptionally uncommon in Monterey Park.

Versatile Buyer Appeal: Ideal for a broad range of buyers including developers, investors, and owner-users seeking live-and-income potential, maximizing its market reach.

Cons