6423 Monterey Road

Los Angeles, CA 90042

$4,760,000
Last Sold Price
22
Beds
12
Baths
10,168 Sq. Ft.
$468 / Sq. Ft.
10,168
Sq. Ft.
$468
per Sq. Ft.

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...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.
  1. Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 6423 Monterey Road

Zoning
LAR1
Cross Streets
Arroyo Seco Parkway & Pasadena Avenue
Parcel Number
5312002021
Total Units
12.0
Living Area
10168
Source Living Area
Vendor Enhanced
Area
Highland Park (632)
Vacancy Rate
0

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495

Sold By Re/Max Omega, Peggy Fong Chen, DRE #01461698

Add your commute
LISTING UPDATED: 07/05/2022 03:31 PM

Property Details for 6423 Monterey Road

StatusSold
MLS #22-119925
Days on Market165
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1966
Lot Size0.25 AC / 10,798 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495

Sold By Re/Max Omega, Peggy Fong Chen, DRE #01461698

Add your commute

Building Information for 6423 Monterey Road

Stories2Residences-Year Built1966Building Size-Lot Size0.25 AC / 10,798 SF

Payment Calculator

$30,880 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,977

Property Taxes

$4,903

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6423 Monterey Road

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Market
  • View: Yes
  • View Description: Hills, City
  • View: Hills, City Lights
  • Property Condition: Updated/Remodeled, Additions/Alter
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Submit
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $336,619
  • Net Operating Income: $231,812.00
  • Gross Income: $347,030
  • Cap Rate: 4.66%
  • Gross Rent Multiplier: $14.34
  • Financial Info as Of: 05/09/2022
  • Vacancy Allow Dollar: $10,411.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 104817
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.2479
  • Lot Size Square Feet: 10798
  • Lot Features: Lawn
  • Lot Description: Lawn, Fenced, Single Lot
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Covered Parking, Driveway, Uncovered, Parking Space, Built-In Storage
  • Total Parking: 12
  • Covered Parking: 5
  • Open Other Spaces Total: 7
  • Parking Features: Covered, Driveway, Uncovered, Parking Space, Built-In Storage
Interior Features
Interior Features
  • Rooms: Patio Open, Breakfast Bar
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Wood
  • Equipment: Built-Ins, Freezer, Dishwasher, Washer, Dryer, Refrigerator, Range/Oven
  • Interior Features: Built-Ins, Living Room Balcony, Turnkey
  • Kitchen Features: Remodeled, Marble Counters
  • Bathroom Features: Shower Over Tub, Tile
  • Common Walls: Attached
  • Cooking Appliances: Oven, Cooktop - Gas, Range, Built-Ins, Microwave
  • Laundry: In Unit
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Patio Features: Wrap Around Porch, Living Room Balcony, Patio Open, Deck(s), Living Room Deck Attached, Balcony, Covered, Covered Porch, Porch - Front, Porch - Rear
  • New Construction: No
  • Other Structural Features: Balcony, Barbecue Private, Sliding Glass Doors
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 01-19-2022
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,689.00
  • Unit Actual Rent: $1,689.00
  • Unit Projected Rent: $2,450.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,436.00
  • Unit Actual Rent: $2,436.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 7
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,695.00
  • Unit Actual Rent: $2,695.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 2
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,200.00
  • Unit Actual Rent: $3,200.00
  • Unit Projected Rent: $3,300.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,576,161.00
  • Assessed Improvement Percent: 50.98
  • Assessed Land Value: $1,515,540.00
  • Assessed Land Percent: 49.02
  • Assessed Total Value: $3,091,701.00

Property History for 6423 Monterey Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 6423 Monterey Road

Taxable ValueLand$3,560,000Additions$1,200,740Total$4,760,740
Tax Record2023$58,837 ($4,903 / month)
Home Facts
Total Finished SqFt10,168 SqFtAbove Grade Finished SqFt10,168 SqFtLot Size10,705 SqFtStyleMulti-Family Res (5+ Units)Year Built1966ZoningLAR1CountyLOS ANGELESAPN5312-002-021

Schools near 6423 Monterey Road

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 12
Charter - 9 to 12
Public - 6 to 8
Rating
School
Distance
Bushnell Way Elementary School
PublicK to 5

Benjamin Franklin Senior High School
Public6 to 12

Los Angeles International School
Charter9 to 12

Luther Burbank Middle School
Public6 to 8

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.

Similar Homes

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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 Marcus & Millichap, Jason Tuvia, DRE #01772495

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.