Property Description

First time on the market in over 40 years! The King’s Lodge Motel is located in the heart of Monterey Park. A free-standing 14,576 square feet building comprising two stories sitting on a 36,745 square-foot lot which includes a detached private 2 bed 2 bathroom managers quarter at the back of the property. The Motel consists of 38 rooms (24X King Bedroom and 14X Double Queen). Conveniently located between the 10 and 60 freeways. Just 6 miles from Downtown Los Angeles and 17 miles from LAX. The City of Monterey Park was recently rated the “Best Place to Raise a Family” and this recognition marks the second time this year Monterey Park has been singled out as one of the best communities to live, work and play in the United States. Sale includes the land, building, and motel business. The motel provides very strong cash flow and robust property appreciation for the serious investor and operator. With continuous and returning local clientele. Projected to net over 6% Cap this coming year, this investment opportunity is second to none.

Additional Information
Moon Realty

Business Opportunity For Sale

340 Garfield Avenue, Monterey Park, California 91754

14,576 Sqft
Listing ID #AR21161161
Basic Details
Status : Active
DaysOnMarket : 161
Property Type : Business Opportunity
Listing Type : For Sale
Listing ID : AR21161161
Price : $7,800,000
Living Area : 14,576 Sqft
Lot Size : 36,744 Sqft
Year Built : 1971
Country : US
State : California
County : Los Angeles
City : Monterey Park
Zipcode : 91754
Price Per Square Foot : $535
ModificationTimestamp : 2021-12-30 17:34:57
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