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SOLD 7/7/2022

319 N Garfield Avenue, Monterey Park, CA 91754$5,150,000

10
beds
19
baths
12381
ft2
· 25528
ft2 lot
$427 / ft2

Listing provided courtesy of Listing Broker: PAUL LUKE, PAULTEC INVESTMENT CO.
Source CRMLS;
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19-unit apartment located next to the Garfield Hospital and close to markets banks and restaurants. MPC3 commercial zone. New roof, new exterior paint in 2021. Current rents are comparatively low; good potential for upward adjustment of property value in future rent increases. Separate meters for electricity and gas for each individual unit. On site laundry room. Property to be sold in As Is condition. Seller is not required to do any additional repairs and/or replacement works for the building. Seller reserves all services.

HOA

$0/month

On market

8 hours

Year built

1955

Property type

Multi-Family

Parking

22

MLS

WS22101547

Price / Sq.Ft.

$427 / ft2

Status

Closed

Buyer’s Brokerage Commission

2.5%

Home details for 319 N Garfield Avenue

Interior Features & Layout
Appliances
•   
Laundry Details: Common Area
•   
Appliances: Gas Range, Water Heater
•   
Has Appliances
•   
Laundry: 1
Interior Features
•   
Electric Details: Electricity - On Property
•   
Window Features: Blinds
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
Heating & Cooling
•   
Has Heating
•   
Heating Details: Floor Furnace
•   
Cooling Details: Wall/Window Unit(s)
Interior Size
•   
Building Area Total: 12381.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Garage Spaces: 0.00
•   
Carport Spaces: 22.00
Building Info
•   
Building Area Units: Square Feet
•   
Zoning: MPC3*
•   
Roof: Shingle
•   
Foundation Details: Raised
•   
Year Built Source: Public Records
•   
Construction Materials: Drywall Walls, Stucco
Lot Info
•   
Lot Features: 16-20 Units/Acre, Front Yard, Level with Street
•   
Lot Size Source: Assessor
•   
Elevation Units: Feet
•   
Lot Size Acres: 0.5860
•   
Lot Size Area: 25528.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 3
•   
Total Units: 19
Property Features
•   
Fencing: Block
•   
Common Walls: 2+ Common Walls
Property Type
•   
Common Interest: Community Apartment
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 19
•   
Utilities: Electricity Connected, Natural Gas Connected, Sewer Available, Water Connected
•   
Number Of Separate Gas Meters: 19
•   
Number Of Separate Water Meters: 1
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Water Sewer Expense: 9529.00
•   
Laundry Income: 1099.00
•   
Licenses Expense: 1022.80
•   
Total Actual Rent: 24455.00
•   
Trash Expense: 1.00
•   
Insurance Expense: 5803.00
•   
Professional Management Expense: 9800.70
•   
Total Expenses: 26992.11
•   
Gross Scheduled Income: 293460.00
•   
Operating Expense: 90206.00
•   
Gardener Expense: 2600.00
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 294559.00
•   
Tax Year: 2021
•   
Taxes: 13944.25
Lease Info
•   
Net Operating Income: 203253.00
Listing Info
•   
Status: Closed
Other
•   
Electric Expense: 837.31
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 2
•   
Unit 3 Actual Rent: 5605.00
•   
Unit 3 Total Units: 4
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Garage Spaces: 4.00
•   
Unit 3 Bathrooms: 4
•   
Unit 3 Total Rent: 5605.00
Unit 7 Information
•   
Unit 7 Garage Spaces: 4.00
•   
Unit 7 Bathrooms: 4
•   
Unit 7 Actual Rent: 5855.00
•   
Unit 7 Total Units: 4
•   
Unit 7 Total Rent: 5855.00
•   
Unit 7 Bedrooms: 2
•   
Unit 7 Furnished Units: Unfurnished
Unit 2 Information
•   
Unit 2 Actual Rent: 6820.00
•   
Unit 2 Bedrooms: 1
•   
Unit 2 Total Units: 6
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 6
•   
Unit 2 Garage Spaces: 6.00
•   
Unit 2 Total Rent: 6820.00
Multi Unit Information
•   
Number Wall Ac: 14
•   
# Of Units: 7
•   
Number Of Units Leased: 19
•   
Number With Disposal: 19
•   
Number With Range: 19
•   
Price Per Unit: 278316
Unit 1 Information
•   
Unit 1 Bedrooms: 2
•   
Unit 1 Total Units: 1
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 1.00
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1840.00
•   
Unit 1 Total Rent: 1840.00
Unit 4 Information
•   
Unit 4 Actual Rent: 675.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 675.00
•   
Unit 4 Bathrooms: 1
•   
Unit 4 Garage Spaces: 1.00
•   
Unit 4 Bedrooms: 1
Unit 5 Information
•   
Unit 5 Actual Rent: 1060.00
•   
Unit 5 Total Units: 1
•   
Unit 5 Furnished Units: Unfurnished
•   
Unit 5 Total Rent: 1060.00
•   
Unit 5 Garage Spaces: 1.00
•   
Unit 5 Bathrooms: 1
•   
Unit 5 Bedrooms: 1
Unit 6 Information
•   
Unit 6 Actual Rent: 2600.00
•   
Unit 6 Total Units: 2
•   
Unit 6 Total Rent: 2600.00
•   
Unit 6 Furnished Units: Unfurnished
•   
Unit 6 Bedrooms: 1
•   
Unit 6 Garage Spaces: 2.00
•   
Unit 6 Bathrooms: 2
School Neighborhood & Directions
Location
•   
Community Features: Park
School Info
•   
Directions: South of Emerson
Other
Calculation
•   
Dom: 1
•   
Cdom: 1

Property History for 319 N Garfield Avenue

07/07/2022
07/07/2022
CRMLS #WS22101547
sold
CRMLS #WS22101547
$5,150,000
--2.61%
05/13/2022
05/13/2022
CRMLS #WS22101547
active
CRMLS #WS22101547
$5,288,000

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