MONTEREY PARK, CALIF. (Oct. 19, 2022) – Coldwell Banker Commercial George Realty is pleased to announce that it represented both the buyer and seller in the sale of 507 N Chandler Ave., three single-story buildings comprising 7,200 square feet on a 1.3-acre parcel in Monterey Park. The sale price was $8.5 million.
The property is the former site of Happy Day Preschool, which was in operation for 75 years. Broker Shumei Kam, who facilitated the entire transaction, said the buyer is a private investor who is considering a mixed-use development of 72 condominiums and 10,000 square feet of commercial space on the first floor, subject to city approvals.
“This is the right location for a mixed-use project, located within walking distance to retail stores and entertainment,” said Kam. “Happy Day Preschool was a famous landmark of Monterey Park, and I am confident that this property’s next incarnation will also be an integral part of the community.”
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Kevin Guhl, email@example.com
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