1003 East Hellman Avenue

Monterey Park, CA 91755

$23,000,000
Price
3
Beds
68
Baths
47,920 Sq. Ft.
$480 / Sq. Ft.
47,920
Sq. Ft.
$480
per Sq. Ft.

Description

We are proud to present an exceptional opportunity to acquire 68 units that consists of three contiguous parcels located at 1003 E Hellman Avenue, 1013 E Hellman Avenue, and 1025 E Hellman Avenue in the city of Monterey Park. This vibrant location positions your investment at the heart of it all. The properties are situated on the south-west corner of North New Avenue and East Hellman and are within minutes away from a plethora of diverse restaurants, shopping centers, entertainment attractions and...We are proud to present an exceptional opportunity to acquire 68 units that consists of three contiguous parcels located at 1003 E Hellman Avenue, 1013 E Hellman Avenue, and 1025 E Hellman Avenue in the city of Monterey Park. This vibrant location positions your investment at the heart of it all. The properties are situated on the south-west corner of North New Avenue and East Hellman and are within minutes away from a plethora of diverse restaurants, shopping centers, entertainment attractions and Cal State University Los Angeles. Situated on a large 2.18-acre lot, the property is strategically located next to Mark Keppel High School in an area with the highest Asian population density in the United States. Built in 1949, 1959 and 1962 the properties are well-maintained situated on ±95,282 square feet of land and a total building size of ±47,920 square feet. The properties consist of a unit mix of one-bed/one-bathroom and two-bed/one-bathroom units averaging 713 square feet per unit. The smoke free units feature wall air conditioning and heating, wall-to-wall carpeting, vertical blinds, high-speed internet, balconies, secured screen doors, and kitchens with refrigerators, oven-range and disposals. The building features on-site laundry facilities, mature landscaping, secured gated access, surface and covered parking. The property is ideally located offering convenient access to the 10, 710, 5 and 110 freeways and neighboring cities in the San Gabriel Valley—Rosemead, Montebello, South San Gabriel and Alhambra. It is less than 10 miles from Downtown Los Angeles and just a short drive away from Pasadena, Hollywood and Beach Cities. Nearby shopping includes Home Depot, Costco and Target. Significant local landmarks within a short distance include: Dodger Stadium, Cyrpto.com Arena, LA Live, the Hollywood Bowl, Los Angeles Union Station and more. As prime income properties in a high-demand area, this offering presents stability and a rare chance to capitalize on a thriving market and is ideal for various investors whether it may be a first-time purchaser, seasoned investor, developer or looking for a 1031 exchange opportunity. Property features vary
  1. Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717

Property Details for 1003 East Hellman Avenue

Parking Spaces Total
70
Private Pool
No
Cooling Type
Wall/Window
Total Units
68.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
47920
Assessor Parcel Number
5258-010-036
LISTING UPDATED: 01/24/2025 09:26 AM

Property Details for 1003 East Hellman Avenue

StatusActive
MLS #CV25017683
Days on Market43
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
CountyLos Angeles County

Building Information for 1003 East Hellman Avenue

Building/Complex1003 E Hellman AveFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1962Building Size-

Property Information for 1003 East Hellman Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $1,399,027
  • Gross Scheduled Income: $1,399,027
  • Vacancy Allowance: 41971
  • Gross Operating Income: $1,357,056
  • Net Operating Income: $831,912
  • Laundry Income: $19,987
  • Gross Multiplier: 16.44
  • Cap Rate: 3.62
Expense Details
  • Operating Expense: $525,144
  • New Taxes Expense: $302,734
  • Gardener Expense: $5,835
  • Fuel Expense: $16,121
  • Licenses Expense: $3,323
  • Pest Control Expense: $2,050
  • Electric Expense: $3,270
  • Insurance Expense: $25,117
  • Maintenance Expense: $34,000
  • Professional Management Expense: $63,292
  • Other Expense: $13,600
  • Other Expense Description: Reserves
  • Trash Expense: $7,062
  • Water Sewer Expense: $48,741
  • Total Expenses: $525,144
Tax / Assessment Info
  • Tax Tract Number: 4197
  • Tax Census Tract: 4817.12
  • CFD/Mello-Roos Fee: $8,150
  • Tax Lot: G
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Additional Parcels Description: 5258-010-032, 5258-010-031
  • Lot Features: Lot Over 40000 Sqft
  • Number Of Units: 68
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 70
Unit Information
Unit 1
  • Unit Type Units Total: 39
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,530
  • Unit Type Total Rent: $716,160
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 29
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,905
  • Unit Type Total Rent: $662,880
  • Unit Type Pro Forma: 2353
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 68
  • Rent Controlled: Yes
  • Number Of Buildings: 6
  • Number Of Separate Electric Meters: 68
  • Number Of Separate Gas Meters: 68
  • Number Of Separate Water Meters: 1

Property History for 1003 East Hellman Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1003 East Hellman Avenue

Taxable ValueLand$2,068,899Additions$2,227,712Total$4,296,611
Tax Record2024$65,931 ($5,494 / month)
Home Facts
Total Finished SqFt36,038 SqFtAbove Grade Finished SqFt36,038 SqFtLot Size69,497 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningMPR3*CountyLOS ANGELESAPN5258-010-036

Schools near 1003 East Hellman Avenue

This home is within Garvey Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Emerson (Ralph Waldo) Elementary School
PublicK to 6

Garvey (Richard) Intermediate School
Public7 to 8

Mark Keppel High School
Public9 to 12

Duff Language Magnet Academy
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1003 East Hellman Avenue is a multi-family home for sale in Monterey Park, CA 91755. This property was listed for sale on January 23, 2025 by CB RICHARD ELLIS, it's currently listed at $23,000,000. This listing's school district is Garvey Elementary School District. Nearby schools include Emerson (Ralph Waldo) Elementary School, Garvey (Richard) Intermediate School and Mark Keppel High School. 1003 East Hellman Avenue is a 3-bed, 68-bath, 47,920 sqft multi-family home built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.