540 E Garvey Avenue

  • Monterey Park

  • $995,000
  • Acres
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Commercial Sale Details

Description & Essential
Description
The subject property consists of 3 retail units in the front building and 1 automotive unit in the rear building. The 4 total units are occupied by 3 tenants (the trophy tenant occupies 2 units). All tenants have been there longer than 10 years. All leases are NNN. All tenants are established and pay rent in a timely manner. Tenants have separate meters and the property is very easy to manage. Although there has been no vacancy at this location for over a decade, because of the small unit sizes (420 sf for the retail) the units are easy to keep rented. The property is well located on a corner in the desirable neighborhood of Monterey Park, CA. One of the tenants has a 8.5% rental increase coming up later this year. The property could also be a good fit for an owner user because 65% of the building will be on a month to month term by the end of 2018. Parking in the rear of the lot as well.
Essential
MLS #DW18071387
Price Per SqFt$404.47
Sub-TypeRetail
CountyLos Angeles
StateCA
Area641 - Monterey Park
StatusActive Under Contract
Sale TypeStandard
Number Of Units4
Number Of Buildings1
Building StatusExisting
Land UseRetail
Listing BrokerageApex Properties
Listing AgentChris Comfort
Listing Agent BRE #01407997

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Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, June 5, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.