1003 Hellman AveMonterey Park, CA 91755

Property Details for 1003 Hellman Ave

Year built

1962

Construction

WOOD

Lot size

1.60 AC

Property size (Sq ft)

36,038 SF

Zone code

MPR3*

Property type

Apartment buildings

APN

5258-010-036

APU

5258010036

Description

This exceptional investment opportunity presents a 68-unit apartment building situated on three contiguous parcels totaling approximately 2.18 acres (95,282 sq ft) in desirable Monterey Park, CA. The property, comprised of six buildings with a total of 47,920 square feet, features a mix of one- and two-bedroom units averaging 713 square feet each. Built between 1949 and 1962, the well-maintained buildings offer amenities including on-site laundry, secured gated access, surface and covered parking, and individual unit features such as wall air conditioning and heating, wall-to-wall carpeting, vertical blinds, high-speed internet access, balconies, and secured screen doors. Kitchens are equipped with refrigerators, oven-ranges, and disposals. The property's location in Monterey Park, known for its high Asian population density, offers convenient access to major freeways (10, 710, 5, and 110), Cal State University Los Angeles, and numerous shopping and entertainment options including the Monterey Park Marketplace Shopping Center, Home Depot, Costco, and Target. Its proximity to Downtown Los Angeles, Pasadena, and other San Gabriel Valley cities adds to its appeal. This value-add opportunity presents significant potential for increased income through renovations and capitalizes on a thriving rental market, making it ideal for various investor profiles. The property's address is 1003-1025 E. Hellman Avenue, Monterey Park, CA 91755, with APN 5258-010-031

• CAP approach

  CAP return

  Valuation

  6%

  $11,974,307

  6.5%

  $11,053,207

  7%

  $10,263,692

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,577,901

  Geo Method

  $10,622,128

• Alternative Use

  Use

  Valuation

  Residential

  $11,053,207

  Hospitality

  $10,124,678

  Educational

  $8,423,613

  Medical

  $8,713,314

  Retail

  $13,103,398

Location Insight

City

Monterey Park

County

Los Angeles

State

California

Latitude

34.0707

Longitude

-118.109

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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