Duplex with Attached
For Sale
$1,199,990
423 Florence Ave, Monterey Park, CA 91755
Two-unit residential property with separate front and rear dwellings, updated finishes, and an attached garage.
Property Size2,316 SF
Lot Size0.18 Acres
Days on Market16
Property Features for 423 Florence Ave
General Information
Standard status
Active
Size
2,316 SF
Total Parking Spaces
2
Lot size
0.18 Acres
Property subtype
Duplex
Zoning
R2
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/3BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Building Size
2,316 SF
Year Built
1936
Listing Agency:
RE/MAX ELITE REALTY
Listed By:
YANHUA LIU · License #02080444
Source:
Archetyperealty
Added: Aug 13
Changed: Aug 25
Last Checked: Aug 26 at 1:43PM
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 ELITE REALTY
Investment Insights
Based on property information with market context.
Built in 1936, this duplex includes two residential units on a 7,850 square feet lot in an R2-zoned neighborhood. The front residence measures approximately 800 square feet and has 1 bedroom and 1 full bathroom. The rear residence offers approximately 1,516 square feet with 3 bedrooms and 3 full bathrooms, including two bedrooms with private bathrooms. The rear unit has been freshly painted. Both units include recessed lighting, dual-pane windows, laminate flooring, and kitchens finished with granite countertops. An attached 2-car garage provides on-site parking and storage.
The property is located near Mark Keppel High School, parks, shopping, dining, and the 10 Freeway in Monterey Park, California.
The property is located near Mark Keppel High School, parks, shopping, dining, and the 10 Freeway in Monterey Park, California.
Key Highlights
- Two residential units on a 7,850 square feet lot
- Front unit: approximately 800 square feet with 1 bedroom and 1 full bathroom
- Rear unit: approximately 1,516 square feet with 3 bedrooms and 3 full bathrooms
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
$40,446
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
3.37%
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%
$808,920
$808.9K
Cap Rate 7%
$577,800
$577.8K
Cap Rate 9%
$449,400
$449.4K
Market Conditions
NOI Build-Up for 2,316 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
$62.5K $27.00/SF
− Vacancy
−$4.8K −$2.05/SF
EGI
$57.8K $24.95/SF
− OpEx
−$17.3K −$7.48/SF
NOI
$40.4K $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%
$808,920
Cap Rate 7%
$577,800
Cap Rate 9%
$449,400
Alternative Uses
Best Use
Multifamily LT 5
$577.8K
$505.6K – $674.1K
NOI $40,446 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$532.4K
$465.8K – $621.1K
NOI $37,266 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,798 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,356
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with separate front and rear dwellings, updated finishes, and an attached garage.
Where is this duplex located?
The property is located at 423 Florence Ave Monterey Park, CA.
What is the asking price?
The asking price for this property is $1,199,990.
What are key features of this property?
This property features: Two residential units on a 7,850 square feet lot; Front unit: approximately 800 square feet with 1 bedroom and 1 full bathroom; Rear unit: approximately 1,516 square feet with 3 bedrooms and 3 full bathrooms
