346 E Graves Avenue, Monterey Park, California 91755, Monterey Park, 91755 - bed, bath
ACTIVE$1,200,000
346 E Graves Avenue, Monterey Park, California 91755
0Bed
0Bath
2,041Sqft
9,928Lot
Year Built
1944
Close
-
List price
$1.2M
Original List price
$1.4M
Price/Sqft
$588
HOA
-
Days on market
-
Sold On
-
MLS number
PW25162763
Home ConditionPoor
Features
Good View:
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.20M(50th), sqft - 2041(50th), beds - undefined(50th), baths - undefined(50th).
Great location in Monterey Park perfect owner occupancy with rental income generated, possible addition for standard ADU, large lot , long driveway, currently consisting of 3 units - Duplex of 1 bedroom each in the front and good size home of 3 bedrooms with 2 bathrooms with open patio or use for carport and there are plenty of space for parking enough for all the units. Priced for quick sale.
Price History
Date
Event
Price
09/03/25
Price Change
$1,200,000-11.1%
08/20/25
Price Change
$1,350,000-2.9%
08/09/25
Price Change
$1,390,000-0.6%
07/19/25
$1,399,000
Condition Rating
Poor
Built in 1944, this property is 80 years old. The complete absence of interior photos, particularly of kitchens and bathrooms, is a significant red flag, strongly suggesting these areas are severely outdated and require substantial rehabilitation. Exterior images show an aged property with visible window AC units, indicating outdated cooling systems. The MLS description and property analysis explicitly mention the 'Age of Property' and the likelihood of 'deferred maintenance, outdated systems (plumbing, electrical), and the need for significant capital expenditures for renovations or repairs.' While it's an income-generating triplex, its current condition points to a need for extensive modernization and repairs rather than minor updates.
Pros & Cons
Pros
Income-Generating Potential: The property is a triplex (3 units: a duplex with two 1-bedroom units and a 3-bedroom, 2-bathroom home), offering immediate rental income and ideal for owner-occupancy with supplemental income.
Development Potential: The large lot and existing configuration allow for a possible addition of a standard ADU, providing significant future value-add and increased income potential.
Large Lot Size: With a lot size of 9928 sqft, there is ample space for expansion, outdoor amenities, and supports the ADU potential and extensive parking.
Ample Parking: The property features a long driveway and plenty of parking space, accommodating all units, which is a valuable asset for multi-unit properties in urban areas.
Prime Location: Situated in a 'Great location in Monterey Park,' the property benefits from desirability, access to amenities, and strong rental demand in a sought-after Los Angeles County city.
Cons
Significant Price Reductions: The property has undergone multiple and substantial price reductions (from $1.399M to $1.2M), which may indicate initial overpricing, lack of buyer interest, or potential underlying issues.
Age of Property: Built in 1944, the property is 80 years old, suggesting potential for deferred maintenance, outdated systems (plumbing, electrical), and the need for significant capital expenditures for renovations or repairs.
Implied Urgency/Condition: The phrase 'Priced for quick sale' often signals seller urgency, which could imply the property requires immediate attention, has not attracted offers at higher price points, or may be sold in 'as-is' condition.