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801 803 E Newmark Ave

Monterey Park, CA 91755

$3,500,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1952

calendar_month Built

Property Description

First time on the market in over 70 years! Young Lewin Advisors is pleased to present 801 and 803 Newmark Ave, an 8 unit property on two contiguous parcels totaling a lot size of 35,833 with R3 zoning. 801 E Newmark consists of a conventional 6 unit single story building with two separate front houses,(built in 1915 and 1952) and two duplex's (all 2 bed/1 bath units) built in 1962 with a carport in the rear. 802 Newmark Ave consists of two single family houses in the front- a 3 bed house built in 1956 and a two bed house built in 1950. Behind the houses is a substantial amount of vacant land. The Newmark properties have development potential being on nearly an acre of land. The lot dimensions for 801 per the assessor are 60.48 feet by 300.4 feet, and for 803 are 58.5 feet by 300.4 feet for a total of 35,833 square feet. Per the R-3 guidelines of the Monterey Park Development Standards (buyer to verify) - you can build one unit per 3,000 square feet with a maximum of 2 stories not to exceed 30 feet. If developed together you could build 11 units by right - and with AB-1211 you could add up to 8 ADU's making a 19 unit development potentially.

Listing Information

List Price $3,500,000
Status Active
MLS PW25009779
Type Residential Income
Subtype Apartment
Year Built 1952
Lot Size 35,831
Structure Size N/A
Courtesy Of Younglewin Advisors, Inc.
Listing Agent Jackson Jorgensen DRE#02022727

Interior Features

Laundry Information
Location(s) Electric Dryer Hookup, Gas Dryer Hookup
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

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Listing information courtesy of: Jackson Jorgensen, Younglewin Advisors, Inc. 626-399-2415. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 15th, 2025 at 2:05 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.