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321 N New Ave, Monterey Park, CA 91755
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321 N New Ave Monterey Park, CA 91755

$2,220,000 Sold Price as of 03/17/2023
  • 16 Beds
  • 8 Baths
  • 6,180 Sq.Ft.
Sold
$2,220,000 Sold Price as of 03/17/2023 Refinance Your Mortgage
Map preview of 321 N New Ave, Monterey Park, CA 91755

Property Overview: 321 N New Ave Monterey Park, CA has 16 bedrooms, 8 bathrooms, 6,180 living square feet and 8,492 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Rare opportunity! First time on the market since 1984! 321 New Ave is a 7 unit multifamily building with 2 x (3 Bed + 1.5 Bath units) and 5 x (2 Bed + 1 Bath units) all separately metered for electric and gas. This property sits on a flat 8,492 SF lot and has 9 parking spaces (4 covered + 5 open). Laundry onsite and each unit has their individual storage units. Easy access to 10 FWY and 60 FWY. Money Magazine (Time Money) ranks Monterey Park #3 "Best Places to Live" in the entire United States. Money Magazine used scoring based on the cities’ economy, cost of living, education, housing, crime, amenities and ease of living.

Listed by DONALD LA | BRE #01928418 | KW Executive
Co-listed by JOLIE MACH | BRE #02119203 | KW Executive
Last checked: 3 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 229

Home details

Lot Sq. Ft
8,492
HOA Dues
$0/mo
Year built
1963
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
WS22116897
City
Monterey Park
County
Los Angeles
Time on Site
685 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,425
  • Total Rent: $2,425
  • Pro Forma/Market Rent: $5,200
Unit Breakdown 2
  • # of Units: 5
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,500
  • Total Rent: $9,500
  • Pro Forma/Market Rent: $11,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.36%
  • Gross Rent Multiplier: 16.07
  • Gross Scheduled Income: $143,100
  • Net Operating Income: $100,167
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $42,933
  • Electric: $490
  • Gas/Fuel: $1,725
  • New Taxes: $29,513
  • Trash: $0
  • Gardener: $805
  • Insurance: $1,752
  • Professional Management: $0
  • Water/Sewer: $6,624

Property Details for 321 N New Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Laundry Information
  • Has Laundry
  • Outside
Room Information
  • Flooring: Carpet
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Assigned, Carport, Driveway
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 7
  • Parcel Number: 5258007066
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: 321 N New Avenue, Monterey Park
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Monterey Park Agent

Sale History for 321 N New Ave

Last leased for $2,200 on May 16th, 2023

  • May, 2023

  • May 16, 2023

    Date

    Leased

    CRMLS: WS23062804

    $2,200

    Price

  • Apr 14, 2023

    Date

    Active

    CRMLS: WS23062804

    $2,200

    Price

  • Listing provided courtesy of CRMLS

    New Remodeled, downstairs unit, 2 Beds /1 Bath apartment with one car parking space in the City of Monterey Park. New stove/oven in the kitchen. Laminated wood flooring throughout entire unit. Onsite laundry. Unit with split A/C unit and wall heater. Very convenient location close to shops, post office, school, the I-10 freeway and more!

  • March, 2023

  • Mar 17, 2023

    Date

    Sold

    CRMLS: WS22116897

    $2,220,000

    Price

  • Jun 2, 2022

    Date

    Active

    CRMLS: WS22116897

    $2,300,000

    Price

  • August, 2020

  • Aug 7, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • August, 2010

  • Aug 3, 2010

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 321 N New Ave

Assessed Value (2020): $153,282
Year Land Value Improved Value Assessed Value
2020 $24,629 $128,653 $153,282

Home Value Compared to the Market

This property vs the competition

321 N New Ave sold on March 17, 2023 for 170.59% higher than the current median sold price for the city of Monterey Park which is $850,000. The median sold price per/sqft for Monterey Park is $631 and this home is sold at $372.17 per/sqft which puts the price per square foot 41.02% lower than the current median sale per square foot for the city of Monterey Park.

About 321 N New Ave

Detailed summary of property

321 N New Ave is a multi family that recently sold in Monterey Park, CA 91755. This multi family property offered 16 bedrooms, 8 bathrooms, roughly 6,180 living square feet, and sits on an approximately 8,492 square foot lot. 321 N New Ave was first listed on ArdentRealEstateGroup.com on June 2, 2022. The homeowner sold the property for $2,220,000. Home in Monterey Park are selling for a median price of $850,000 and a median price per square foot of $631. Based on Ardent Real Estate Group's Monterey Park Market Data, this home is sold 170.59% higher than the current median priced home. Local homes that are currently for sale include 430 N El Molino Ave, 2853 Cincinnati St and 316 N Fickett St. While the average home in Monterey Park, CA is selling in 61 days, 321 N New Ave has a days on market of 229 days. There are currently 66 homes for sale in the Monterey Park real estate market and 34 of them are single family homes while 25 of them are condos and 7 are townhomes. For more information on this home for sale at 321 N New Ave Monterey Park, CA 91755 contact Ardent Real Estate Group and we will put you in touch with one of our Monterey Park agents.

Public Facts for 321 N New Ave

Public county record property details
Beds
16
Baths
9
Year built
1963
Sq. Ft.
6,180
Lot Size
8,492
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
34
APN
5258-007-066

The source for these homes facts are from public records.

91755 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,049,000
Median List Price/Sq.Ft.
$570
Median Sold Price
$1,070,000
Median Sold Price/Sq.Ft.
$521
Total Inventory
21
Median Sale to List Price %
118.9%
Avg Days on Market
22
Loan Type
Conventional (83.33%), FHA (0%), VA (0%), Cash (16.67%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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