$7,800,000
340 S Garfield Ave, Monterey Park, CA 91754
0 Beds
0 Baths
n/a sqft

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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.
  • Price:
  • $7,800,000
  • Acreage:
  • 0.84
  • Year Built:
  • 1971
  • Listing ID #:
  • AR21161161
  • Street Address:
  • 340 S Garfield Ave
  • City:
  • Monterey Park
  • State:
  • California
  • Postal Code:
  • 91754
  • County:
  • Los Angeles
  • Community:
  • Monterey Park
  • Listing Status:
  • Active
  • Listing Type:
  • Business Opportunity
  • Year Built:
  • 1971
  • Year Built Source:
  • Assessor
  • Business Type:
  • Hospitality, Hotel/Motel
  • Year Established:
  • 1980
  • Approximate Lot Size Range Source:
  • Assessor
  • Lot Square Footage:
  • 36744.00
  • Days On Market:
  • 180
  • Previous Listing Price:
  • 8000000.00
  • Price Per Square Foot:
  • 535.13
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listings Provided by John Chang of Moon Realty 01917274
  • CRISNET

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