Skip To Content

340 S Garfield Avenue

Monterey Park, CA 91754
  • $7,800,000
  • STATUS: Active
  • ON SITE: 139 Days
  • MLS #: AR21161161
$7,800,000
  • 0
    BEDS
  • 0.84
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Business Opportunity
Built:
1971
County:

School Ratings & Info

Listing Agent: John Chang of Moon Realty


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.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-09T00:26:49.073. 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 Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/119619069
Print Image

340 S Garfield Avenue Monterey Park, CA 91754

  • Price: $7,800,000
  • Status: Active
  • On Site: 139 Days
  • MLS #: 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



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-09T00:26:49.073. 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 Zia Group | eXp Realty. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365841098-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365841098-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365841098-1.jpg
Logo
The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent: John Chang of Moon Realty