$ 1,200,000
-
$1,200,000
Price -
5
Bed -
3
Bath -
2,442
SqFt
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About the Listing 51247 - CV33418
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.
Listing Highlights for 498 W Riggin St
Status
Active
Days on Site
39
Property Type
Multi-Family
MLS ®
CV25169203
Year Built
1948
Total Square Footage
2,442
Lot/Acreage
0.16
County
Los Angeles
Area
641 - Monterey Park
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: 3 car
- Parking Spaces: 3
- Zoning: MPR2*
- Roof: Shingle
- Others: Second Garage Detached,2+ Total Units
- Sewer: Public Sewer
- Parking Features: Assigned,Garage Faces Rear
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5266020020
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
498 W Riggin St Monterey Park, CA 91754
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