498 W Riggin Street, Monterey Park, CA 91754

• 5 beds
• 2,442 sqft

Property Description

NEW PRICE! 3-Unit Triplex with approved permits to build 4th Unit ADU! The property presents an exceptional opportunity for investors or owner-users seeking strong existing income and value-add potential. The property features an ideal unit mix of one 1-bedroom/1-bath single-story unit and two 2-bedroom/1-bath units, totaling 2,442 rentable square feet on a 6,823 square foot lot. Each unit is separately metered for electricity and gas, and tenants enjoy garage parking and private interior laundry hookups, adding to long-term tenant appeal. What truly sets this offering apart is the rare opportunity to immediately increase value: approved plans and permits are in place for a 689 sq. ft. 1-bedroom ADU, allowing for a 4th income-generating unit. Major capital improvements have already been completed, including a new electrical panel for all units and a new copper main water line, ensuring reduced maintenance costs. Located in a strong rental market with proximity to shops, schools, and transportation, this property is ready for expansion-just bring your shovel and start building. Whether you're looking to grow your portfolio or live onsite while generating income, this Monterey Park property offers rare upside with permits already in hand.

Listing Status:

Active

Date Added:

July 28, 2025 at 05:00AM

Listing Office:

RE/MAX 2000 REALTY : 626-956-0188

Listing Agent:

Kristopher German : 626-427-0786

MLS ID:

CRCV25169203

Interior

• Laundry: Gas Dryer HookupOtherIn Kitchen

Exterior

• General: Other
• Parking: AssignedGarage Faces Rear

Location

• HOA Amenities: 0.0
• County: Los Angeles

Lot

• Zoning: MPR25266020020
• View: None
• Fencing: Wood

This listing courtesy of Kristopher German, RE/MAX 2000 REALTY