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260 E Garvey Avenue, Monterey Park, California 91755, Monterey Park, 91755 - 4 bed, 3 bath

260 E Garvey Avenue, Monterey Park, California 91755 home-pic-0
ACTIVE$998,000
260 E Garvey Avenue, Monterey Park, California 91755
4Beds
3Baths
2,151Sqft
1,859Lot
Year Built
1941
Close
-
List price
$998K
Original List price
$988K
Price/Sqft
$464
HOA
-
Days on market
-
Sold On
-
MLS number
WS25111682
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros.

Welcome to 260 E. Garvey Ave. Exceptional 3-Unit Mixed-Use Opportunity in Monterey Park! Located in the heart of Monterey Park, this rare commercial and residential building offers a great investment opportunity. ***The property features: - A front store (commercial unit) with potential for retail, office, learning center use, live and work etc. - 2 residential apartments at the back and on the 2nd level, each with 2 bedrooms and 1 bathroom - Total of 4 bedrooms, 3 bathrooms and an extra separate shower stall - Each unit has its own separate entrance - Total area: 2150 sqft - Potential rental income: Approx. $6,000 per month. ***Key Highlights: - Recently renovated units in good condition - Prime location, just 3 blocks from Garfield Ave and minutes drive to DTLA - Easy access to major freeways - Long-term growth potential in one of LA County's most desirable cities ***Current Status: - Commercial unit leased until end of 2025 - Residential apartments currently vacant after recent renovations Don't miss this exceptional opportunity to own a multi-unit property with great rental income and long-term growth potential.

Price History

Date
Event
Price
08/09/25
Price Change
$998,000
05/19/25
Listing
$988,000
Condition Rating
Good
The property, built in 1941, benefits from 'recently renovated units' as stated in the description. Images confirm this with one kitchen featuring modern gray shaker cabinets, new countertops, and laminate flooring, and bathrooms appearing clean with updated fixtures. However, the presence of a second, visibly older kitchen with dated appliances and tile flooring, worn carpet in another room, and reliance on window AC units throughout, indicates that the renovations are not comprehensive across all units or to an 'excellent' standard. It is move-in ready and functional, aligning with the 'good' condition criteria of being extensively renovated within the last 5-15 years in parts, but not a full, top-tier renovation.
Pros & Cons

Pros

Mixed-Use Investment Opportunity: This property offers a rare 3-unit mixed-use setup (commercial + 2 residential), providing diverse income streams and significant investment potential with an estimated $6,000/month rental income.
Prime Monterey Park Location: Situated in the heart of Monterey Park, the property boasts a highly desirable location with excellent proximity to Garfield Ave, downtown LA, and major freeways, ensuring strong tenant demand and accessibility.
Recently Renovated Units: The residential units have undergone recent renovations and are in good condition, minimizing immediate capital expenditures for a new owner and enhancing tenant appeal.
Versatile Commercial Space: The front commercial unit offers flexible usage options, including retail, office, learning center, or live-work, catering to a wide range of potential businesses or owner-users.
Long-Term Growth Potential: Located in one of LA County's desirable cities, the property benefits from inherent long-term growth potential, making it an attractive asset for appreciation-focused investors.

Cons

Limited Lot Size: With a lot size of only 1,859 sqft, the property offers minimal outdoor space and could present challenges for parking or future expansion, especially for a multi-unit mixed-use building.
Vacant Residential Units: While recently renovated, the residential apartments are currently vacant, meaning the new owner will need to actively secure tenants to realize the full potential rental income immediately.
Older Building Structure: Built in 1941, the property's age, despite recent renovations, may suggest potential for underlying older infrastructure issues (e.g., plumbing, electrical systems) that could require future maintenance or upgrades.

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