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    1935 Potrero Grande Dr Monterey Park, CA 91755-7445
    Property profile & analytics

    1935 Potrero Grande Dr, Monterey Park, CA 91755-7445

    View on Map
    • Apartment buildings
    • 66,102 SF
    • 1.90 lot acres
    Off-Market
    Last Sale Jun 11, 2024
    $36,600,000
    Property ID
    US09-7359152
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $36,600,000
    Show details
    Cap Rate Potential
    2.9%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Monterey Park Senior Village / Community Center

    Property Details for 1935 Potrero Grande Dr

    Year built
    2002
    Construction
    WOOD
    Lot size
    1.90 lot acres
    Zone code
    MPCM*
    Property type
    Apartment buildings
    APN
    5276-022-008
    APU
    5276022008

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 11, 2024 — Monterey Park Phase II LP Monterey Park Senior Village LP Intrafamily Transfer · related —
    Jun 10, 2024 $36,600,000 Monterey Park Phase II LP Monterey Park Senior Village LP Grant Deed —
    May 18, 2020 — Monterey Pk Senior Vlg LP — Deed · related $13.9M · Prudential Huntoon Paige Assoc
    Jun 8, 2018 — Monterey Pk Senior Vlg LP — Deed · related $8.4M · Hunt Mtg Ptrs LLC
    Mar 30, 2001 — Park Senior Village Monterey — Trustees Deed · related $10.6M · Bank Of America
    Dec 12, 2000 — Monterey,park Senior Vill Community Friends, Trustees Deed · related $8.8M · Shs Capital LP
    Mar 1, 1989 $990,000 Ultimate Exchang Miu Trustees Deed —
    Mar 1, 1989 $110,000 Chang Phillip&me Chan Trustees Deed · related $650k · Chan Paul C&
    — — Park Senior Village Monterey — Deed Of Trust · related $300k · Monterey Park City (ca)
    — — Park Senior Village Monterey — Deed Of Trust · related $2.9M · Prudential Multifamily Mtg INC
    — — Monterey Pk Senior Vlg LP — Deed Of Trust · related $13.9M · Prudential Huntoon Paige Assoc
    — — Park Senior Vllg LP Monterey — Deed Of Trust · related $983k · Housing Authority
    — — Monterey Pk Senior Vlg LP — Deed Of Trust · related $8.4M · Hunt Mtg Ptrs LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $36,600,000
      ML approach
      $36,600,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $43,045,000
      NEIGHBORHOOD: SHOPPING CENTER
      $40,230,000
      AUTO REPAIR, GARAGE
      $30,575,000
      MEDICAL BUILDING
      $30,050,000
      RETAIL STORES
      $25,335,000
      OFFICE BUILDING
      $25,025,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Monterey Park
    County
    Los Angeles
    State
    California
    Longitude
    -118.103
    Latitude
    34.0428
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $20,497
    $3,737,582
    $8,690,049
    $12,427,631
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      20,477 SF

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      1025 Hellman Ave

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      411 Orange Ave

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation
      $800,000
      4,919 SF

      119 Sierra Vis St

      APARTMENT HOUSE (5+ UNITS)
      119 Sierra Vis St, Monterey Park, CA 91755-1932
      View Details
    • Value Estimation
      $14,645,000
      85,890 SF

      234 Rural Dr, Unit A

      APARTMENT HOUSE (5+ UNITS)
      234 Rural Dr, Monterey Park, CA 91755-4507
      View Details
    • Value Estimation
      $4,065,000
      33,327 SF

      127 Alhambra Ave

      APARTMENT HOUSE (5+ UNITS)
      127 Alhambra Ave, Monterey Park, CA 91755-1955
      View Details

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      Multifamily property in prime location with high rental income.
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    Similar Nearby for Lease

    • Contact for pricing
      17,700 SF

      Divisible Office Space Available

      Second floor office space with elevator access, build-to-suit options.
      588 Atlas Ave, Monterey Park, CA 91755
      View Details
    • $1.50 SF/Yr
      6,655 SF

      Versatile Office/Retail Space Available

      1,400 SF office/retail space suitable for various uses.
      207 E Pomona Blvd, Monterey Park, CA 91755
      View Details
    • $1,500 /Mo

      Convenient Parking in Monterey Park

      High-visibility building with ample parking near downtown Monterey Park.
      223 E Garvey Ave, Monterey Park, CA 91755
      View Details
    • Contact for pricing
      800 SF

      1975 Potrero Grande Dr

      Office Spaces
      1975 Potrero Grande Dr, Monterey Park, CA 91755
      View Details
    • $1,600 /Mo

      Convenient Location in Monterey Park

      High visibility building with parking near downtown Monterey Park.
      223 E Garvey Ave, Monterey Park, CA 91755
      View Details
    • Contact for pricing

      New Retail and Office Space

      New plaza with retail and office spaces for lease.
      301 E Garvey Ave, Monterey Park, CA 91755
      View Details
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    Monterey Park, CA 91755-7445
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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