1251 College View Drive

Monterey Park, CA 91754

$3,100,000
Price
15
Beds
14
Baths
8,745 Sq. Ft.
$354 / Sq. Ft.
8,745
Sq. Ft.
$354
per Sq. Ft.

Description

Constructed in 1959 on a 15,192 square foot double lot, 1251 College View Drive is a two-story, 13-unit property with a total building size of 8,745 square feet. The property is separately metered for gas and electric, is serviced by a central water heater, and offers a gated pool, an on-site laundry facility, and covered and carport parking with storage bins. 1251 College View Drive boasts a strong unit mix of one bachelor/one-bathroom unit, ten one-bedroom/one-bathroom units, one two-bedroom/one-bathroom...Constructed in 1959 on a 15,192 square foot double lot, 1251 College View Drive is a two-story, 13-unit property with a total building size of 8,745 square feet. The property is separately metered for gas and electric, is serviced by a central water heater, and offers a gated pool, an on-site laundry facility, and covered and carport parking with storage bins. 1251 College View Drive boasts a strong unit mix of one bachelor/one-bathroom unit, ten one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, and one two-bedroom/two-bathroom unit. The units offer wall units for cooling. With current rents approximately 26% below market, a new owner is presented with the opportunity to increase rents to market upon vacancy or further increase rental income with complete unit renovations. There are no local rent control restrictions, but the property is subject to AB 1482. The property offers easy access to the 10, 60, and 710 freeways, providing ease of access to neighboring cities as well as Downtown Los Angeles, located less than 8 miles away. 1251 College View Drive is walking distance to East Los Angeles College (ELAC), which has a 2023 enrollment of 33,397 students.
  1. Listed by Priscilla Nee • DRE #01435254 • Brokerage DRE #00868409 • CB Richard Ellis, Inc.

Property Details for 1251 College View Drive

Water Front
None
Zoning
MPR3YY
Parcel Number
5253033043
Total Units
13.0
Living Area
8745
Source Living Area
Assessor
Area
Monterey Park (641)
Vacancy Rate
3%

Location

Listing Courtesy of CB Richard Ellis, Inc., Priscilla Nee, DRE #01435254
Add your commute
LISTING UPDATED: 04/24/2024 12:01 AM

Property Details for 1251 College View Drive

StatusActive
MLS #24-380549
Days on Market18
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
Lot Size0.35 AC / 15,192 SF
CountyLos Angeles County

Location

Listing Courtesy of CB Richard Ellis, Inc., Priscilla Nee, DRE #01435254
Add your commute

Building Information for 1251 College View Drive

Stories2Residences-Year Built1959Building Size-Lot Size0.35 AC / 15,192 SF

Payment Calculator

$18,885 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,918

Property Taxes

$1,967

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1251 College View Drive

Community / Development
Community / Development
  • Number Of Units: 13
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Multifamily
  • Security Features: None
  • Water Heaters: Yes
  • Water Heater Features: Central Water Heater
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $214,634
  • Net Operating Income: $126,224.00
  • Gross Income: $221,272
  • Gross Rent Multiplier: $14.17
  • Vacancy Allow Dollar: $6,638.00
  • Owner Pays: Gardener, Water
  • Total Annual Expense: 88409
  • Pool Expense: $2,980.00
  • Water Expense: $8,041.00
  • Gas Expense: $4,249
  • Electric Expense: $1,803.00
  • Other Expense: $2,600.00
  • Tax Expense: $42,740
  • Gardener Expense: $1,375
  • Expense Licenses: $300.00
  • Insurance Expense: $4,489
  • Management Expense: $10,732.00
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.3488
  • Lot Size Square Feet: 15192
Parking Details
Parking Details
  • Parking Garage: Carport, Covered Parking
  • Total Parking: 12
  • Covered Parking: 6
  • Carport Spaces Total: 6
  • Parking Features: Carport, Covered
Interior Features
Interior Features
  • Levels: Two
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Other
  • Laundry: Community
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Flat
  • New Construction: No
  • Construction Materials: Frame, Stucco, Wood Siding
  • Exterior Construction: Frame, Stucco, Wood Siding
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-16-2024
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $915.00
  • Unit Actual Rent: $915.00
  • Unit Projected Rent: $1,350.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,423.00
  • Unit Actual Rent: $14,225.00
  • Unit Projected Rent: $17,500.00
  • Like Units: 10
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,050.00
  • Unit Actual Rent: $1,588.00
  • Unit Projected Rent: $2,050.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,500.00
  • Unit Actual Rent: $1,500.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109

Property History for 1251 College View Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1251 College View Drive

Taxable ValueLand$949,330Additions$634,992Total$1,584,322
Tax Record2023$23,600 ($1,967 / month)
Home Facts
Total Finished SqFt8,745 SqFtAbove Grade Finished SqFt8,745 SqFtLot Size15,237 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningMPR3YYCountyLOS ANGELESAPN5253-033-043

Schools near 1251 College View Drive

This home is within Alhambra Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Brightwood Elementary School
PublicK to 8

Mark Keppel High School
Public9 to 12

Independence High (Alternative) School
Public9 to 12

Century High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1251 College View Drive is a multi-family home for sale in Monterey Park, CA 91754. This property was listed for sale on April 16, 2024 by CB Richard Ellis, Inc., it's currently listed at $3,100,000. This listing's school district is Alhambra Unified School District. Nearby schools include Brightwood Elementary School, Mark Keppel High School and Independence High (Alternative) School. 1251 College View Drive is a 15-bed, 14-bath, 8,745 sqft multi-family home built in 1959.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CB Richard Ellis, Inc., Priscilla Nee, DRE #01435254

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.