521 W Riggin St
Monterey Park, CA 91754
4 Units Monterey Park CA · Build-to-Rent Property For Sale · 4 Units

Rare opportunity to acquire a cash flow income property in highly sought after Monterey Park. Excellent investment metrics: $99,000 Gross Scheduled Income, 4.92% Cap Rate, 14.22 Gross Rent Multiplier. Well located asset only a few blocks to Ralphs Supermarket, Starbucks, and Atlantic Square, a 208,000 square foot community shopping center. Two (2) buildings, a front triplex (2+1, 2+1, 1+1) with on site parking and a rear house (3+2) with a private entrance, sweeping mountain views, and two car garage. Exterior renovations include: new roofs, new sub-roofing, new fascia board, new windows throughout, new exterior paint, new landscaping, and more. Interior renovations include: new flooring, new cabinets, new counter tops, remodeled bathrooms, remodeled master, remodeled kitchens, and more. Tenants enjoy residential spacious living, washer and dryer hookups in each unit, on site parking, and good access to nearby freeways: 60 freeway, the 710 freeway, and the 5 freeway. Monterey Park was named the third best American City to live in by Money Magazine in 2017, and has been thriving ever since. The multifamily rental market continues to demonstrate strength and growth due to the area's prime location near major freeways , rail transportation, retail and shopping centers, schools and colleges, as well as many parks, cultural venues/events, and numerous restaurants with renowned domestic and international cuisine.