Monterey Park, CA 91754 · APN 5252-004-065
UNITS
74
BUILDING SF
49,464
SF / UNIT
668
YEAR BUILT
1962
BEDROOMS
48
BATHROOMS
74
USE · CODE 0501
5+ UNITS
PROP 13 ASSESSED VALUES — USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE — NOT A VERIFIED CLOSING PRICE.
Outside LA RSO coverage on these records — most California multifamily over 15 years old falls under the AB 1482 statewide cap of 5% plus CPI, never more than 10% per year.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR) — NOT VERIFIED CLOSING PRICES.
Outside LA RSO coverage on these records — most California multifamily over 15 years old falls under the AB 1482 statewide cap of 5% plus CPI, never more than 10% per year. This is an inference from public assessor records, not a determination — confirm the certificate of occupancy date with the LA Housing Department or ZIMAS before you rely on it for pricing or notices.
County records list 74 units at 1501 Ridgecrest Way, classified as 5+ units across 49,464 square feet of building area, averaging about 668 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
The assessor roll gives a build year of 1962, which puts it in the pre-1979 stock that the LA Rent Stabilization Ordinance generally covers inside city limits. Age drives more than character here: it sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
The last recorded transfer was October 2020, at an estimated $17,249,999 — about $233,108 per unit. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
The current assessed value is $18,671,954 ($8,930,065 land, $9,741,889 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
Public records give you the frame — units, size, age, assessed value, when it last traded — but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
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