Skip To Content

6423 Monterey Rd

Los Angeles, CA 90042
  • $4,975,000
  • STATUS: Active
  • ON SITE: 126 Days
  • MLS #: 22-119925
UPDATED: 57 min ago
$4,975,000
  • 22
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,168
    SQFT
  • $489
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1966
County:

School Ratings & Info

Description

We are pleased to present a twelve (12) unit apartment building located at 6423 Monterey Road in Los Angeles, California. The subject property is situated in a prime Highland Park location, south of Arroyo Seco Parkway and west of Pasadena Avenue. Built in 1966, this property contains a great unit mix of two (2) one bedroom / one bathroom units and ten (10) two bedroom / one bathroom units. Two (2) of the units feature wrap around decks, and one (1) unit is a penthouse. The spacious units all feature private balconies, tall ceilings, gas range stoves, dishwashers, and in-unit laundry hookups. Ten (10) units are rehabbed with new flooring and fixtures throughout, stainless steel appliances, designer bathrooms with stylish fixtures, floor to ceiling windows, and breakfast bars. The offering will be delivered with RTI plans for the soft-story retrofit and a one bedroom ADU that will not impact any parking for the current tenants. The property itself comes with full on-site parking and great landscaping. Residents will enjoy living in Los Angeles without feeling like they are in a highly urban space. Tenants are in immediate proximity of outdoor recreation at Arroyo Seco Park, located just behind the subject property. Just beyond the park, the -110 Freeway allows easy commuting access to major employers across Los Angeles. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor to acquire a turn-key property with positive initial cash flow and RTI plans to build an ADU.

Monthly Payment Calculator



Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-25T23:43:08.557. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.markwiseproperties.com/homes/124895635
Print Image

6423 Monterey Rd Los Angeles, CA 90042

  • Price: $4,975,000
  • Status: Active
  • On Site: 126 Days
  • Updated: 57 min ago
  • MLS #: 22-119925
22
Beds
0
Baths
0
½ Baths
0.25
Acres
10,168
SQFT
$489
$/SQFT
1966
Built
Neighborhood:
Highland Park
County:
Los Angeles
Area:
Highland Park
Property Description
We are pleased to present a twelve (12) unit apartment building located at 6423 Monterey Road in Los Angeles, California. The subject property is situated in a prime Highland Park location, south of Arroyo Seco Parkway and west of Pasadena Avenue. Built in 1966, this property contains a great unit mix of two (2) one bedroom / one bathroom units and ten (10) two bedroom / one bathroom units. Two (2) of the units feature wrap around decks, and one (1) unit is a penthouse. The spacious units all feature private balconies, tall ceilings, gas range stoves, dishwashers, and in-unit laundry hookups. Ten (10) units are rehabbed with new flooring and fixtures throughout, stainless steel appliances, designer bathrooms with stylish fixtures, floor to ceiling windows, and breakfast bars. The offering will be delivered with RTI plans for the soft-story retrofit and a one bedroom ADU that will not impact any parking for the current tenants. The property itself comes with full on-site parking and great landscaping. Residents will enjoy living in Los Angeles without feeling like they are in a highly urban space. Tenants are in immediate proximity of outdoor recreation at Arroyo Seco Park, located just behind the subject property. Just beyond the park, the -110 Freeway allows easy commuting access to major employers across Los Angeles. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor to acquire a turn-key property with positive initial cash flow and RTI plans to build an ADU.
Exterior Features

Covered Parking 5 Cross Streets Arroyo Seco Parkway & Pasadena Avenue Lot Description LawnFencedSingle Lot Lot Location City Lot Size Area 10798 Other Structures None Parking Garage Covered ParkingDrivewayUncoveredParking SpaceBuilt-In Storage Patio Features Wrap Around PorchLiving Room BalconyPatio OpenDeck(S)Living Room Deck AttachedBalconyCoveredCovered PorchPorch - FrontPorch - Rear Pool Description None Pool YN No Spa None Spa YN No Tennis Court None Tennis YN No Total Parking 12 View Description HillsCity View YN Yes

Interior Features

Bathroom Features Shower Over TubTile Baths Total 12.00 Common Walls Attached Cooking Appliances OvenCooktop - GasRangeBuilt-InsMicrowave Cooling Air Conditioning Den No Dining Room No Equipment Built-InsFreezerDishwasherWasherDryerRefrigeratorRange/Oven Family Room No Flooring Wood Heating Wall Interior Features Built-InsLiving Room BalconyTurnkey Kitchen Features RemodeledMarble Counters Laundry In Unit Laundry Equipment Own Rooms Patio OpenBreakfast Bar

Property Features

Alley YN No Assessed Total Value 3091701 Gross Income 347030 Gross Operating Income 336619 Land Lease Type Fee Like Units1 2 Like Units2 7 Like Units3 2 Like Units4 1 Net Operating Income 231812.00 Number Of Buildings 1 Number Of Units 12 Property Condition Updated/RemodeledAdditions/Alter Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 104817 Type Of Units Market Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar1

Listing provided courtesy of Jason Tuvia DRE#01772495 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-25T23:43:08.557. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_22-119925-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_22-119925-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_22-119925-2.jpg
Logo
Mark Wise | Bennion Deville Homes
71691 Highway 111
Rancho Mirage CA, 92270