601 West Riggin Street
601 West Riggin Street
Closed 7/24/23
Closed 7/24/23
Description
Monterey Park. This impressive triplex features three separate units, with two units
offering 2 bedrooms and 1 bathroom each, and the third unit with 1 bedroom and 1
bathroom. The units have unique layouts, and they all come with long-term tenants,
ensuring a steady stream of income. The total living space of nearly 2,500 square feet
and the over 8,000 square feet lot size provide plenty of space for comfortable living. The...Welcome to an exceptional investment opportunity in the highly desirable area of
Monterey Park. This impressive triplex features three separate units, with two units
offering 2 bedrooms and 1 bathroom each, and the third unit with 1 bedroom and 1
bathroom. The units have unique layouts, and they all come with long-term tenants,
ensuring a steady stream of income. The total living space of nearly 2,500 square feet
and the over 8,000 square feet lot size provide plenty of space for comfortable living. The detached garage with 3 parking spaces and extra storage space offers
convenience and security for tenants. The property generates a rental income of $
per month, with potential to increase further to market rent. Additional income can be
generated from leasing out the extra parking space and storage shed. These features
make this an ideal investment opportunity for investors looking to earn stable passive
income. The location of this triplex offers easy access to major freeways such as the 60 and 10,
as well as local amenities, including shopping centers, restaurants, schools, and
college. Tenants can enjoy a comfortable living experience in well-maintained living
spaces with plenty of natural light and ample closet space. The backyard is a good size,
providing ample space for outdoor activities such as barbecues. This triplex sits on a large lot, allowing for potential expansion or development, making it
an excellent investment opportunity. With a desirable location and the potential for
increased rental income, this investment property is not to be missed. Don't miss your
chance to own this fantastic investment property and take advantage of the rental
market's increasing demand in the City of Monterey Park.
- Listed by Milan Lai • DRE #01514674 • Brokerage DRE #01884917 • Keller Williams Signature Realty
Property Details for 601 West Riggin Street
Location
Sold By Century 21 Peak, Herbert Rivas, DRE #01165301
Property Details for 601 West Riggin Street
| Status | Closed |
|---|---|
| MLS # | TR23074258 |
| Days on Market | 50 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1948 |
| Lot Size | 0.18 AC / 8,001 SF |
| County | Los Angeles County |
Location
Sold By Century 21 Peak, Herbert Rivas, DRE #01165301
Building Information for 601 West Riggin Street
Payment Calculator
$7,041 per month
30 year fixed, 7.25% Interest
$6,276
$765
$0
Property Information for 601 West Riggin Street
- Tenant Pays: Electricity, Gas, Repairs, Telephone
- Gross Income: $64,860
- Gross Scheduled Income: $64,860
- Vacancy Allowance: 0
- Gross Operating Income: $64,860
- Net Operating Income: $51,020
- Cap Rate: 4.0
- Financing: Conventional
- Operating Expense: $13,420
- New Taxes Expense: $8,800
- Gardener Expense: $720
- Fuel Expense: $0
- Licenses Expense: $200
- Electric Expense: $0
- Insurance Expense: $1,300
- Trash Expense: $720
- Water Sewer Expense: $1,680
- Total Expenses: $13,420
- Tax Tract Number: 14542
- Tax Census Tract: 4827.01
- CFD/Mello-Roos Fee: $0
- Tax Lot: 16
- Community Features: Curbs
- Room Type: All Bedrooms Down, All Bedrooms Up
- Bedroom Features: All Bedrooms Down, All Bedrooms Up
- Laundry: Yes
- Laundry Features: Gas & Electric Dryer Hookup
- Fireplace Features: None
- Fireplace Rooms: None
- Flooring: Carpet, Laminate
- Entry Location: 3
- View Description: None
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- Lot Features: 2-5 Units/Acre
- Number Of Units: 3
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 3
- Parking: Yes
- Parking Garage: Assigned, Garage
- Parking Garage Spaces: 3
- Carport Spaces: 0
- Parking Features: Assigned, Garage, On Site
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,920
- Unit Type Total Rent: $1,920
- Unit Type Pro Forma: 2300
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,000
- Unit Type Total Rent: $2,000
- Unit Type Pro Forma: 2300
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,485
- Unit Type Total Rent: $1,485
- Unit Type Pro Forma: 1650
- Unit Type Type: 3
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 3
- Number Of Separate Gas Meters: 3
- Number Of Separate Water Meters: 1
- Number With Range: 3
- Number Wall AC: 3
Property History for 601 West Riggin Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 601 West Riggin Street
Schools near 601 West Riggin Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 7 to 12 |
Rating | School | Distance |
|---|---|---|
Bella Vista Elementary School PublicK to 5 | ||
Macy Intermediate School Public6 to 8 | ||
Schurr High School Public9 to 12 | ||
Montebello Community Day School Public7 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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Listing Courtesy of Keller Williams Signature Realty, Milan Lai, DRE #01514674
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.