401 Pomelo Avenue, Monterey Park, California 91755, Monterey Park, 91755 - bed, bath
ACTIVE$2,330,000
401 Pomelo Avenue, Monterey Park, California 91755
0Bed
0Bath
4,378Sqft
19,137Lot
Year Built
1954
Close
-
List price
$2.33M
Original List price
$2.33M
Price/Sqft
$532
HOA
-
Days on market
-
Sold On
-
MLS number
AR25127062
Home ConditionFair
Features
Good View: Mountain(s)
ViewMountain(s)
About this home
We found 3 Cons,6 Pros. Rank: price - $2.33M(95th), sqft - 4378(95th), beds - undefined(5th), baths - undefined(5th).
This convenience location is close to all with easy access to FWY 10 and 60. Well maintained 5 individual detached buildings of 6 units with plenty of open air parking for tenants. Each unit has own meter for gas and electricity and built-in laundry and dryer hook-up. This property is excellent for income generation with tremendous up-side or multi-units condominium re-development.
Condition Rating
Fair
The property was built in 1954, making it 70 years old. While the exterior appears well-maintained based on the provided images, there are no interior photos available. The MLS listing explicitly notes 'Undisclosed Interior Condition' and suggests the units 'could be dated and require renovation to achieve market-rate rents.' This indicates that while the property is functional and income-generating, the interiors, including kitchens and bathrooms, are likely outdated in style and features, requiring updates rather than major structural repairs. This aligns with the 'Fair' category, where a home is aged but maintained, with major components functional but showing signs of being outdated, and requiring minor updates or repairs.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19137, living area = 4378.
High Income Generation Potential: The property features 6 units with individual utility meters and laundry hook-ups, explicitly noted for excellent income generation.
Significant Redevelopment Opportunity: A large 19,137 sqft lot offers substantial potential for multi-unit condominium redevelopment.
Strategic Location & Accessibility: Conveniently located with easy access to FWY 10 and 60, enhancing tenant demand and property value.
Individual Unit Amenities: Each unit benefits from separate gas/electricity meters and built-in laundry hook-ups, simplifying tenant utility management and reducing landlord overhead.
Well-Maintained with Ample Parking: The property consists of well-maintained buildings and provides plenty of open-air parking for tenants.
Cons
Property Age: Built in 1954, the age of the property may necessitate future capital expenditures for system upgrades or modernization.
Undisclosed Interior Condition: The description lacks details on the interior condition of the 6 units, which could be dated and require renovation to achieve market-rate rents.
Sub-type Classification Ambiguity: Listed as 'Single Family Residence' despite being a 6-unit property, potentially requiring thorough due diligence regarding zoning and financing.