498 W Riggin Street new Save Request In-Person Tour Request Virtual Tour
Monterey Park,CA 91754
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25169203
Bedrooms 5
Property Sub-Type Res Income 2-4 Units
Property Description
Just listed 3-Unit Triplex plus approved permits to build 4th Unit ADU! The property presents an exceptional opportunity for investors or owner-users seeking strong existing income and value-add potential. The property features an ideal unit mix of one 1-bedroom/1-bath single-story unit and two 2-bedroom/1-bath units, totaling 2,442 rentable square feet on a 6,823 square foot lot. Each unit is separately metered for electricity and gas, and tenants enjoy garage parking and private interior laundry hookups, adding to long-term tenant appeal. What truly sets this offering apart is the rare opportunity to immediately increase value: approved plans and permits are in place for a 689 sq. ft. 1-bedroom ADU, allowing for a 4th income-generating unit. Major capital improvements have already been completed, including a new electrical panel for all units and a new sewer line, ensuring reduced maintenance costs. Located in a strong rental market with proximity to shops, schools, and transportation, this property is ready for expansionjust bring your shovel and start building. Whether you're looking to grow your portfolio or live onsite while generating income, this Monterey Park property offers rare upside with permits already in hand.
Location
State CA
County Los Angeles
Zoning Assessor
Direction East of Atlantic Blvd. North of 60 Freeway
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5266020020