Duplex with Tandem
For Sale
$1,198,000
Pending
351 S Lincoln Ave, Monterey Park, CA 91755
Each residence has separate gas and electricity meters, while water service is shared.
Property Size2,590 SF
Days on Market145
Property Features for 351 S Lincoln Ave
General Information
Standard status
Pending
Size
2,590 SF
Total Parking Spaces
4
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1963
Listing Agency:
RE/MAX Premier Properties
(626) 229-2200
Listed By:
Jerry Sun · License #01338788
(626) 589-0997
Source:
Exitrealty
Added: Apr 12
Changed: Aug 31
Last Checked: Aug 31 at 2:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Premier Properties
Investment Insights
Based on property information with market context.
Built in 1963, this duplex contains two distinct residences totaling approximately 2,590 sq.ft., with 5 bedrooms and 2.5 bathrooms. The front home spans two stories and includes three bedrooms, 1.5 bathrooms, central A/C, an additional wall A/C, a fireplace, granite kitchen counters, a breakfast nook, laundry space, a deck, and a private yard. The rear home is single-story with two bedrooms and one bathroom, along with a wall A/C, freestanding fireplace, granite counters, tile flooring, laundry access, and a private enclosed deck. Skylights are featured in both bathrooms.
Separate gas and electricity meters serve each unit, while water is shared. Tandem parking accommodates up to 4 vehicles, and additional storage is available. The property is near Garfield Avenue, Garvey Avenue, dining, shopping, Costco, Atlantic Times Square, parks, schools, and the 10 Freeway.
Separate gas and electricity meters serve each unit, while water is shared. Tandem parking accommodates up to 4 vehicles, and additional storage is available. The property is near Garfield Avenue, Garvey Avenue, dining, shopping, Costco, Atlantic Times Square, parks, schools, and the 10 Freeway.
Key Highlights
- Two‑unit duplex with approximately 2,590 sq.ft. of living space
- 5 bedrooms and 2.5 bathrooms across both residences
- Front unit: 3 bedrooms, 1.5 bathrooms, two stories, deck, and private yard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,231
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$904,620
$904.6K
Cap Rate 7%
$646,157
$646.2K
Cap Rate 9%
$502,567
$502.6K
Market Conditions
NOI Build-Up for 2,590 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.9K $27.00/SF
− Vacancy
−$5.3K −$2.05/SF
EGI
$64.6K $24.95/SF
− OpEx
−$19.4K −$7.48/SF
NOI
$45.2K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$904,620
Cap Rate 7%
$646,157
Cap Rate 9%
$502,567
Alternative Uses
Best Use
Multifamily LT 5
$646.2K
$565.4K – $753.9K
NOI $45,231 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$595.4K
$520.9K – $694.6K
NOI $41,675 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,067 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 91755, CA
27,637
Population
9,316
Households
3
Avg Household Size
44
Median Age
32%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
8,637
Density / Sq Mi
$74,362
Median Household Income
$37,778
Median Earnings
$1,811
Median Rent
$761,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has separate gas and electricity meters, while water service is shared.
Where is this duplex located?
The property is located at 351 S Lincoln Ave Monterey Park, CA.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,590 sq.ft. of living space; 5 bedrooms and 2.5 bathrooms across both residences; Front unit: 3 bedrooms, 1.5 bathrooms, two stories, deck, and private yard
