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Listed by Kristopher German • RE/MAX 2000 REALTY
$1,200,000
Est. payment /mo
2,442 SqFt
New
498 W Riggin Street Monterey Park, CA 91754
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Key Details
Property Type Single Family Home, Multi-Family
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 2,442 sqft
Price per Sqft $491
MLS Listing ID CRCV25169203
HOA Y/N No
Year Built 1948
Lot Size 6,823 Sqft
Property Sub-Type OTHER
Source Datashare California Regional
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 copper main water line, ensuring reduced maintenance costs. Located in a strong rental market with proximity to shops, schools, and transportation, this property is ready for expansion—just 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
Interior
Fireplace No
Laundry Gas Dryer Hookup, Other, In Kitchen
Exterior
View None
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