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    340 S Garfield Avenue

    Monterey Park, CA 91754
    • $7,800,000
    • STATUS: Active
    • ON SITE: 96 Days
    • ID#: AR21161161
    UPDATED: 66 min ago
    $7,800,000
    • 0
      BEDS
    • 0.84
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Business Opportunity
    Built:
    1971
    County:

    School Ratings & Info

    Description

    First time on the market in over 40 years! The King's Lodge Motel is located in the heart of Monterey Park. A free-standing 14,576 square feet building comprising two stories sitting on a 36,745 square-foot lot which includes a detached private 2 bed 2 bathroom managers quarter at the back of the property. The Motel consists of 38 rooms (24X King Bedroom and 14X Double Queen). Conveniently located between the 10 and 60 freeways. Just 6 miles from Downtown Los Angeles and 17 miles from LAX. The City of Monterey Park was recently rated the "Best Place to Raise a Family" and this recognition marks the second time this year Monterey Park has been singled out as one of the best communities to live, work and play in the United States. Sale includes the land, building, and motel business. The motel provides very strong cash flow and robust property appreciation for the serious investor and operator. With continuous and returning local clientele. Projected to net over 6% Cap this coming year, this investment opportunity is second to none.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-27T21:29:13.81. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bob Kelly Team | Berkshire Hathaway Home Services Ca. Properties. Licensed in the State of California, USA.
    www.bobkellyteam.com/homes/119619069
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    340 S Garfield Avenue Monterey Park, CA 91754

    • Price: $7,800,000
    • Status: Active
    • Updated: 66 min ago
    • ID#: AR21161161
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.84
    Acres
    1971
    Built
    Neighborhood:
    641 - Monterey Park
    County:
    Los Angeles
    Area:
    641 - Monterey Park
    Property Description
    First time on the market in over 40 years! The King's Lodge Motel is located in the heart of Monterey Park. A free-standing 14,576 square feet building comprising two stories sitting on a 36,745 square-foot lot which includes a detached private 2 bed 2 bathroom managers quarter at the back of the property. The Motel consists of 38 rooms (24X King Bedroom and 14X Double Queen). Conveniently located between the 10 and 60 freeways. Just 6 miles from Downtown Los Angeles and 17 miles from LAX. The City of Monterey Park was recently rated the "Best Place to Raise a Family" and this recognition marks the second time this year Monterey Park has been singled out as one of the best communities to live, work and play in the United States. Sale includes the land, building, and motel business. The motel provides very strong cash flow and robust property appreciation for the serious investor and operator. With continuous and returning local clientele. Projected to net over 6% Cap this coming year, this investment opportunity is second to none.
    Exterior Features

    Sign On Property YN No

    Property Features

    Additional Parcels YN No Business Type Hotel/MotelHospitality Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New Loan1031 ExchangeOwner May CarrySubject To Other

    Listing provided courtesy of John Chang of Moon Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-27T21:29:13.81. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bob Kelly Team | Berkshire Hathaway Home Services Ca. Properties. Licensed in the State of California, USA.
     
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