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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    244 Garvey Ave Monterey Park, CA 91755-1849

    • Office buildings
    • 308 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Jan 23, 2020
    $175,001
    Value Estimations
    $180,000
    Show details
    Cap Rate Potential
    3.7%
    Office buildings
    Location Intelligence
    Property ID
    US09-7801371
    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.

    Current Use by Public Records

    • California Bu Qi Consulting Co. / Corporate Office

    Property Details for 244 Garvey Ave

    Construction
    WOOD
    Lot size
    0.04 lot acres
    Property size
    308 SF
    Zone code
    MPC4*
    Property type
    Office buildings
    APN
    5257-022-003
    APU
    5257022003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $195,000
      ML approach
      $160,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $147,000
      Market price range: $70.4k - $147k
      AI Estimate
      $131,000
      Market price range: $25.4k - $131k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $185,000
      AUTO REPAIR, GARAGE
      $140,000
      MEDICAL BUILDING
      $140,000
      RETAIL STORES
      $120,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey Park
    County
    Los Angeles
    State
    California
    Longitude
    -118.12
    Latitude
    34.0623
    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
    $5,215
    $253,865
    $134,374
    $388,239
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $355,000
      1,753 SF

      120 Emerson Ave

      OFFICE BUILDING • 1,753 SF
      120 Emerson Ave, Monterey Park, CA 91755-1709
      View Details
    • Value Estimation
      $335,000
      418,229 SF

      1980 Saturn St

      OFFICE BUILDING • 418,229 SF
      1980 Saturn St, Monterey Park, CA 91755-7417
      View Details
    • Value Estimation
      $725,000
      27,824 SF

      2 Cupania Cir

      OFFICE BUILDING • 27,824 SF
      2 Cupania Cir, Monterey Park, CA 91755-7406
      View Details
    • Value Estimation
      $230,000
      425 SF

      223 Garvey Ave Ste, Unit 118

      OFFICE BUILDING • 425 SF
      223 Garvey Ave Ste, Monterey Park, CA 91755-1861
      View Details
    • Value Estimation
      $220,000
      465 SF

      223 Garvey Ave Ste, Unit 178

      OFFICE BUILDING • 465 SF
      223 Garvey Ave Ste, Monterey Park, CA 91755-1862
      View Details
    • Value Estimation
      $440,000
      3,141 SF

      1008 Garvey Ave

      OFFICE BUILDING (MULTI-STORY) • 3,141 SF
      1008 Garvey Ave, Monterey Park, CA 91755-3067
      View Details

    Similar Nearby for Sale

    • $4,800,000
      8,006 SF

      Monterey Park Retail/Office Building

      Two-story, 8,006 SF building in Monterey Park, California.
      745 E Garvey Ave, Monterey Park, CA 91755
      View Details
    • $768,000
      1,587 SF

      Monterey Park End-Unit Townhome

      Spacious tri-level townhome with modern upgrades in a prime location.
      522 N Nicholson Ave, Monterey Park, CA 91755
      View Details
    • $1,200,000

      Monterey Park Triplex with Income

      Triplex in great location with income potential and large lot.
      346 E Graves Ave, Monterey Park, CA 91755
      View Details
    • New
      $1,400,000
      2,923 SF

      Monterey Park Quadruplex For Sale

      Quadruplex in Monterey Park with value-add potential and long-term stability.
      425 Sefton Ave, Monterey Park, CA 91755
      View Details
    • New
      $1,200,000
      2,588 SF

      Monterey Park Triplex with Upside

      Triplex in Monterey Park with value-add and redevelopment potential.
      417 Sefton Ave, Monterey Park, CA 91755
      View Details
    • $799,000
      1,719 SF

      Monterey Park Move-In Ready Townhome

      Spacious 4-bedroom, 3-bathroom townhome with modern upgrades and mountain views.
      410 Russell Ave, Monterey Park, CA 91755
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Fully Leased Office Building

      Office building in Monterey Park, CA, currently 100% leased.
      735 W Emerson Ave, Monterey Park, CA 91755
      View Details
    • $2.00 SF/Yr
      15,256 SF

      Flexible Office Space Available

      Move-in ready office suites with various configurations and amenities.
      1166 W Garvey Ave, Monterey Park, CA 91755
      View Details
    • Contact for pricing
      800 SF

      1975 Potrero Grande Dr

      Office Properties & Spaces
      1975 Potrero Grande Dr, Monterey Park, CA 91755
      View Details
    • $54 SF/Yr
      2,823 SF

      Jade Plaza: Monterey Park Office/Retail

      Modern Office & Retail Suites in Prime Location
      301 Garvey Ave, Monterey Park, CA 91755
      View Details
    • $27 SF/Yr
      10,997 SF

      Infinite Professional Center: Rosemead

      Medical Office Suites Available, Rosemead, CA
      7422 Garvey Ave, Rosemead, CA 91755
      View Details
    • $2,661 /Mo

      Vacant Property in Good Location

      Vacant property suitable for office or retail use.
      745 E Garvey 201, Monterey Park, CA 91755
      View Details
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    Monterey Park, CA 91755-1849
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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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