7
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$3,350,000
$3,500,000 4.3%
Est. payment /mo
0.82 Acres Lot
Sold on 05/13/2025
801 803 E Newmark Ave Monterey Park, CA 91755
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UPDATED:
Key Details
Sold Price $3,350,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW25009779
Year Built 1952
Lot Size 0.823 Acres
Property Sub-Type Apartment
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.
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.
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Interior
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Pool None
Community Features Urban
Building
Lot Description Rectangular Lot
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Jackson Jorgensen • Younglewin Advisors, Inc. • jack@younglewin.com
Bought with Johnny Lam • Treeline Realty & Investment
Bought with Johnny Lam • Treeline Realty & Investment