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    505 New Ave Monterey Park, CA 91755-1440
    Property profile & analytics

    505 New Ave, Monterey Park, CA 91755-1440

    View on Map
    • Apartment buildings
    • 4,380 SF
    • 0.25 lot acres
    Off-Market
    Last Sale Mar 19, 2024
    $1,720,000
    Property ID
    US09-7757393
    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
    $1,720,000
    Show details
    Cap Rate Potential
    4.1%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 505 New Ave

    Year built
    1947
    Construction
    WOOD
    Lot size
    0.25 lot acres
    Zone code
    MPR3*
    Property type
    Apartment buildings
    APN
    5258-012-023
    APU
    5258012023

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 19, 2024 $1,720,000 Benjamin Lin Jing Jing Tsai Yang Grant Deed —
    Jun 18, 2004 — Tsai,tr Tsai,john Quit Claim Deed · related —
    Feb 21, 2001 — John Tsai Tsai,j Quit Claim Deed · related —
    Oct 2, 1998 $24,000 Shan J Tsai Tsai,hui P Grant Deed · related —
    — — Shan J Tsai — Deed Of Trust · related $200k · Home Savings Of America

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,720,000
      ML approach
      $1,720,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,175,000
      6.5%
      $1,085,000
      7%
      $1,005,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,543,000
      Market price range: $716k - $1.54M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,245,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,665,000
      Change: +114% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,025,000
      Change: +62% Conversion: Difficult
      MEDICAL BUILDING
      $1,990,000
      Change: +60% Conversion: Moderate
      RETAIL STORES
      $1,680,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $1,660,000
      Change: +33% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,355,000
      Change: +9% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,285,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey Park
    County
    Los Angeles
    State
    California
    Longitude
    -118.109
    Latitude
    34.0676
    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
    $29,029
    $1,428,000
    $631,380
    $2,059,380
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,965,000
      10,983 SF

      220 Lincoln Ave

      APARTMENT HOUSE (5+ UNITS)
      220 Lincoln Ave, Monterey Park, CA 91755-1736
      View Details
    • Value Estimation
      $1,415,000
      10,789 SF

      515 New Ave

      APARTMENT HOUSE (5+ UNITS)
      515 New Ave, Monterey Park, CA 91755-1439
      View Details
    • Value Estimation
      $890,000
      4,749 SF

      328 Newmark Ave

      APARTMENT HOUSE (5+ UNITS)
      328 Newmark Ave, Monterey Park, CA 91755-2960
      View Details
    • Value Estimation
      $4,280,000
      11,191 SF

      202 Hellman Ave

      APARTMENT HOUSE (5+ UNITS)
      202 Hellman Ave, Monterey Park, CA 91755-1237
      View Details
    • Value Estimation
      $1,230,000
      6,693 SF

      504 Lincoln Ave

      APARTMENT HOUSE (5+ UNITS)
      504 Lincoln Ave, Monterey Park, CA 91755-1215
      View Details
    • Value Estimation
      $2,775,000
      23,424 SF

      318 Lincoln Ave

      APARTMENT HOUSE (5+ UNITS)
      318 Lincoln Ave, Monterey Park, CA 91755-1764
      View Details

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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
    • $2 SF/Yr
      119,427 SF

      Monterey Park Office Space Available

      Office building in Monterey Park, CA, offering 119,427 square feet.
      601 Potrero Grande Dr, Monterey Park, CA 91755
      View Details
    • $2 SF/Yr
      10,650 SF

      McCaslin Business Park Office Building

      10,605 SF office building with direct access.
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      View Details
    • Contact for pricing
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      1975 Potrero Grande Dr

      Office Spaces
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      View Details
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    505 New Ave
    Monterey Park, CA 91755-1440
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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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