439 S New Ave, Monterey Park, CA 91755

Property Description

If you are looking for location and future land value for development then this is it! (7) Units consisting of 4 stand alone buildings. Zoned R-3 with with a huge 22,827 square feet lot and a wide 78 X 294 foot deep. According to the owner, there's a possibility to build 7 PUDS, with no need to build a retaining wall or dig underground; buyer needs to verify with city. The front main house is a large single family 4 bed and 2.75 bath at 3,198 sq ft and has been remodeled with permits and has central air/heat, with a bonus den that can be used as a 5th bedroom and a huge basement below easily a living space and also has it's own separate private driveway, a 3 car garage below and private front and backyard enclosed. Below is a Mother in law, 1 bedroom with access to the front and backyard with guest parking. The center has a stand alone house 1 bedroom + den and 1 bath with it's own private enclosed backyard. The back has twin duplexes, 4 units total with large 2 bedroom/1 bath and it's own common area. 5 carport parking and plenty of parking spaces. Rents are below market, with upside potential. This is a project waiting to be fully realized!