Monterey Park Four-Unit
For Sale
$1,200,000
829 Hershey Ave, Monterey Park, CA 91755
Four units in excellent condition with upgrades and amenities.
Property Size2,326 SF
Lot Size0.17 Acres
Days on Market274
Property Features for 829 Hershey Ave
General Information
Standard status
Active
Size
2,326 SF
Lot size
0.17 Acres
Property subtype
Investment
Building Details
Building Size
2,326 SF
Year Built
1915
Stories
1
Units
4
Listing Agency:
(909) 282-0628
Listed By:
Yingli Thurston
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 26 at 9:20AM
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 Yingli Thurston
Investment Insights
Based on property information with market context.
Located in a desirable area of Monterey Park, this single-story, four-unit property presents an investment opportunity. The property features a safety fire sprinkler system and all units are in excellent condition. Kitchens have been upgraded with quartz countertops. Dual pane windows and laminated wood floors are present throughout. A security gated side entry enhances privacy. On-site coin-operated laundry facilities are available. Each unit includes a refrigerator and two mini-split AC units. The property is conveniently located near schools, stores, and offers easy access to the freeway.
Key Highlights
- Prime location in a desirable part of Monterey Park, close to schools, stores, and freeway access.
- Rare single‑story 4‑unit property, ideal for investment.
- All units are in excellent condition and include a refrigerator and 2 mini‑split AC units.
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
$40,620
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
3.39%
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%
$812,400
$812.4K
Cap Rate 7%
$580,286
$580.3K
Cap Rate 9%
$451,333
$451.3K
Market Conditions
NOI Build-Up for 2,326 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
$62.8K $27.00/SF
− Vacancy
−$4.8K −$2.05/SF
EGI
$58.0K $24.95/SF
− OpEx
−$17.4K −$7.48/SF
NOI
$40.6K $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%
$812,400
Cap Rate 7%
$580,286
Cap Rate 9%
$451,333
Alternative Uses
Best Use
Multifamily LT 5
$580.3K
$507.8K – $677.0K
NOI $40,620 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$534.7K
$467.8K – $623.8K
NOI $37,427 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,173 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,644
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?
Quadplex - Four units in excellent condition with upgrades and amenities.
Where is this quadplex located?
The property is located at 829 Hershey Ave Monterey Park, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime location in a desirable part of Monterey Park, close to schools, stores, and freeway access.; Rare single‑story 4‑unit property, ideal for investment.; All units are in excellent condition and include a refrigerator and 2 mini‑split AC units.
