3811 Monterey Road is strategically located in the highly sought-after Monterey Hills submarket, which is adjacent to Highland Park, Pasadena, and Downtown Los Angeles. With three private homes on a single lot, totaling 2,375 SF of building on a huge 9,985 SF lot. The subject property is comprised of a one bedroom + one bath house, a two bedroom + one bath house and a three bedroom + two bath house. The current owners just put brand new roofing on all three homes. This value-add opportunity, allows an investor the opportunity to increase income and value by renovating and re-tenanting the property to achieving market rents. This area is surrounded by attractive apartments and just short drive to increasingly popular restaurants which draws a wide range of creative professional tenants. Its proximity to USC Medical Center and the Biotech Corridor also draws many researchers, students, and young professionals. * Buyer to verify all information with city. Per title Square Footage shows 1,436.
Multi-familyProperty Type
1922Year Built
9,985 sq ftLot Size
$560Est. Price/Sq.Ft.
Listed by Daniel Hirth•DRE #01515796• KW Advisors
•310-300-2838 (agent)
•Daniel@HirthGroup.com (agent)
Bought with Daniel Hirth•DRE #01515796• KW Advisors
As the MLS and public records start to fill up, we'll list the details here.
Public record
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
—
Year renovated
—
Sq. Ft.
—
Year built
—
Style
Multi-Family (2-4 Unit)
County
Los Angeles County
APN
—
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Apr 11, 2023.
Property details
Parking
Garage
None
Parking
# of Parking Spaces (Total): 4
Interior
Equipment
Other
Heating & Cooling
No Cooling
Other Heat
Multi-Unit Income
Gross Income: 42924
Gross Operating Income: $41,636
Net Operating Income: $28,206
Multi-Unit Expenses
Total Annual Expense: $13,431
Multi-Unit Other Financial Information
Gross Rent Multiplier: 17.68
Vacancy Rate: 3
Scheduled Actual: Scheduled
Multi-Unit Information
Unit Type Type: 1, 2, 3
Type Of Units: Mixed Units
# of Buildings: 3
Unit 1 Information
# of Beds: 1
# of Baths: 1.00
Rent: $1,345
Projected Rent: $1,595
Actual Rent: $1,345
# of Units: 1
Unit 2 Information
# of Beds: 2
# of Baths: 1.00
Rent: $1,056
Projected Rent: $1,795
Actual Rent: $1,056
# of Units: 1
Unit 3 Information
# of Beds: 3
# of Baths: 2.00
Rent: $1,176
Projected Rent: $1,995
Actual Rent: $1,176
# of Units: 1
Exterior
Building Information
Total Floors: 1
Ground Level
Detached/No Common Walls
Security Features: Gated
Property Information
Property Type: Residential Income
Property Condition: Fixer
Land Information
Other Structures: None
Lot Information
Lot Size (Sq. Ft.): 9,985
Lot Size (Acres): 0.2295
Zoning: LARD3
Lot Description: Fenced, Lot Shape-Irregular, No Landscaping
Financial
Assessment Information
Assessed Total Value: $299,891
Assessed Land Value: $234,291
Assessed Land %: 78.13
Assessed Improvement Value: $65,600
Assessed Improvement %: 21.87
Assessor Parcel Number: 5302-028-030
Location
Community Information
# of Units in Complex (Total): 3
Location Information
Directions: Located on Monterey Road and a short drive to Downtown Los Angeles
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: —
Style: Multi-Family (2-4 Unit)
Year Built: —
Year Renovated: —
County: Los Angeles County
APN: —
Home facts updated by county records on Apr 11, 2023
Other
Documents & Disclosures
Disclosures: As Is
Around this home
Schools
Huntington Drive Elementary School
Public K-6 • Assigned • 0.6mi
6/10
El Sereno Middle School
Public 6-8 • Assigned • 0.9mi
7/10
Abraham Lincoln Senior High School
Public 9-12 • Assigned • 1.4mi
6/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Local insights from Redfin agents
The LA market is rewarding realistic pricing and good strategy. Buyers have more choices and are taking their time, while sellers who price correctly are still getting results. The days of simply “testing the market” are behind us—in this market,...
LA's real estate market stays a top-tier profit machine through the mid point of26! Strong demand, tight inventory, and the city's allure drive steady 3-7% appreciation. High equity and robust rents make it ideal for long-term investors seeking...
reliable, high-value wealth growth in this iconic City.