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6024 Monterey Road
USD 4,375,000
Property ID: 23325653
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6024 Monterey Road ,90042
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icon 11900 SqFt
icon Built in 1995
icon USD 368/SqFt
icon 18 Beds
icon 16 Full
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Location Street View
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Interior Details
Bedrooms
18
Bathrooms
16
Interior Size
8854
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1995
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Detailed Introduction Of This Home
6024 Monterey Road is a well-maintained 14-unit property (built in 1995) situated in the heart of Highland Park. Northeast LA's Highland Park has experienced rapid growth in recent years while maintaining its historic roots and vibrant culture. This property is just 0.6 miles from Figueroa Street, the vibrant epicenter of Highland Park, home to a wide array of eclectic boutiques, charming cafes, art galleries, lively nightlife venues, and beloved dining experiences. Built in 1995, 6024 Monterey is not subject to local rent control and currently qualifies for an 8.8% annual rent increase (5% + CPI). This is the first time a 1990's+ constructed building has been put on the market in Highland Park since 2021. This well-maintained complex features (4) 2-bdrm. units and (10) 1-bdrm. units that reside on a spacious 11,900 SF lot with ample side-by-side covered and uncovered parking spaces that present an opportunity to add one or two ADUs (buyer to verify). Select units are renovated, including new windows, wood-laminate flooring, granite countertops, and updated appliances and cabinetry. 6024 Monterey presents approx. 30% rental upside compared to renovated units in the area. It is offered at $312,500 per unit, and at the listed price, stabilizes at a 5.73% CAP and 11.94 GRM with projected market rents. Property amenities include a well-maintained and secure environment with gated entry access and a convenient on-site laundry room.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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Photos (21)
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6024 Monterey Road
USD 4,375,000 18 Beds
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