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Listed by KEVIN HURLEY • Keller Williams Realty/Pasadena
$ 4,400,000
Est. payment | /mo
0.33 Acres Lot
$ 4,400,000
Est. payment | /mo
0.33 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRWS25122153
Year Built 1964
Lot Size 0.334 Acres
Source California Regional MLS
Property Description
Presenting a rare opportunity to acquire a 20-unit multifamily asset at 6431 Monterey Road, ideally located in the highly desirable Hermon neighborhood of Northeast Los Angeles. Nestled between the vibrant community of Highland Park and just one block from the charming city of South Pasadena, this property offers an exceptional location with convenient access to neighborhood amenities, transit options, and major freeways. The building features an excellent unit mix of one-bedroom and two-bedroom units, with both one and two-bathroom layouts. In a rental market known for its extremely low turnover, properties in this pocket seldom come to market, making this a truly unique investment opportunity. The current ownership has implemented a RUBS (Ratio Utility Billing System) program, creating a path for additional income on future vacancies. Structural improvements include the completion of the mandatory soft-story seismic retrofit, offering peace of mind and compliance for prospective buyers. Several units have been refurbished, and the property is fully parked with a total of 20 parking spaces-10 open and 10 tuck-under. There is also potential for ADU development (buyer to verify). Additional amenities include an on-site laundry facility and significant upside in rents, making 6431
Location
State CA
County Los Angeles
Area 632 - Highland Park
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Community Facility
Exterior
Garage Spaces 20.0
Pool 31, None
View None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 5312002022
Special Listing Condition Not Applicable
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Ben Dodge
REALTOR® | Lic# DRE 01959374