1020 COLLEGE VIEW DR Monterey Park CA 91754-6240

Marcus & Millichap, as the exclusive listing agent is pleased to present the opportunity to acquire 1020 College View Drive, a 6-unit investment opportunity located in the desirable city of Monterey Park, California. The 5,292 square foot building was constructed in 1959 and consists of six large two bedroom/one bathroom floorplans of approximately 882 square feet. The two-story property sits on a 8,553 square foot parcel and is individually metered for gas and electricity, has a central hot water heater and the entire exterior building was painted in June 2020.

Offered for the first time on the market, the subject property presents a great opportunity for an investor to acquire a well located value add apartment community with over twenty percent rental upside. The property features a spacious patio or balcony for each unit, six tandem parking spaces (twelve total), storage bins in the carport area and an on-site laundry room. The building has been recently re-piped with copper to reduce future maintenance expenses.

In addition, the property is located within one half mile of East Los Angeles College and is ideally situated with easy access to Highway 60, Interstate 10 and the 710 Long Beach Freeway. Because of its central location and proximity to Downtown Los Angeles, the city is well served by the Atlantic Transit Station Gold Line, Metrolink and bus transit, providing its residents many alternative ways of traveling to work, entertainment, dining, shopping, and home.

• All Large Two Bedroom Units (882 Sq Ft/Unit)
• Over 20% Rental Upside
  
• Private Patios and Balconies
• The Entire Exterior Building was Painted in June 2020
• Excellent Rental Location - 83 Walkscore (Very Walkable)
• Individually Metered for Gas and Electricity
• Easy Access to Interstate 10, 60, and 710 Freeways
• First Time on Market - Original Owner