Han Chen
Growth Investment Group Pasade
626-594-4900
5.87% CAP and 7.34% Proforma CAP - One of the LOWEST PRICE PER UNIT and the Highest CAP Rate in El Monte. A desirable 9-unit single-story Value-add apartment complex in the heart of El Monte, California. It is strategically located in the heart of El Monte with proximity to major employment centers in the area such as Longo Lexus, Longo Toyota, El Monte Nissan, and many other shopping centers and major employers in the area. El Monte City Hall (police department, courthouse) is only a mile away, and it offers superb access to FWY 10. This location offers superb area amenities to tenants with a Walk Score of 81. There is no local rent control which provides maximum allowable rent increases under California AB1482. Current rents are significantly below market providing ±30% rental upside through unit upgrades. The property was built in 1959 and situated on a large ±12,092SF R4 zoned lot (ADUs upside possible, buyer to verify). It consists of two single-story buildings with a center walkway. It offers an easy to manage layout with all 1bed+1bath units. The property has been somewhat upgraded with double pane windows throughout, and some units have been updated as recently as 2014-2015. Each unit has laminate/vinyl wood flooring, updated kitchen with granite countertops, and new bathroom. Most of the plumbing in the units have been updated as needed. Parking is provided via twelve open space parking. Each unit is individually metered for electricity and gas. Laundry is provided via a shared laundry room. The property is an easy apartment to rent due to its convenient location. It offers easy access to many local and national retailers and is just minutes away from FWY 10. The property is located on a side street right off intersection of Peck Rd and Ramona Blvd, and within walking distance to many major employment centers in San Gabriel Valley. It is also minutes away from Valley Blvd, a major retail corridor and close to many multi-million-dollar new developments such as Magellan Gateway (±501,000 SF business parks development on Temple City Blvd), Holiday Inn – a ±133 room hotel that was recently completed, El Monte Gateway Project (a development project consisting of ±485 units of housing and ±25,000 square feet of retail), and many more. 11515 Medina Ct benefits from its prime location, with proximity to major transportation routes, educational institutions, shopping centers, recreational areas, and employment hubs.
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Water Source : Public
Sewer : Public Sewer
Roof : Asbestos Shingle
Property Appliances: Gas Range
Fireplace: None
Flooring: Tile,Vinyl
Wall/Window Unit(s)
Air Conditioning
Wall Furnace
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1959
Building Area Total: 4,656
Roof: Asbestos Shingle
None
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2776
Lot Size Source: Assessor
Lot Size Square Feet: 12092
Original List Price: 1,880,000
Listing Contract Date: 2024-01-07
Listing Agreement: Exclusive Right To Sell
Parcel Number: 8568020020
Tax Year: 2023
Annual Tax: 18516
Garage Description: Driveway
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: 619 - El Monte
Directions: north west side of Ramona Blvd and Peck Rd intersection, side street Medina Ct
Source Property Type: Residential Income
Area: 619 - El Monte
Property SubType: Apartment
Property Age: 65
Common Walls: 2+ Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: ground
Property Attached: Yes
Levels or Stories: One
Building Total Stories: 1
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
10234 Olney Street, El Monte, CA,91731 | $445,000 | -- | -- | -- | 6577 Sqft |
3335 California Avenue, El Monte, CA,91731 | $1,690,000 | 9 | 4 | 3,451 | 15083 Sqft |
11523 Medina Court, El Monte, CA,91731 | $998,000 | -- | -- | 3,365 | 8319 Sqft |
9921 Loftus Dr, El Monte, CA,91731 | $980,000 | 7 | 3 | 2,534 | 5142 Sqft |
3338 Washington Avenue, El Monte, CA,91731 | $949,899 | 7 | -- | 2,994 | 7307 Sqft |
11354 Coffield Avenue, El Monte, CA,91731 | $898,000 | 4 | 1 | 1,564 | 10053 Sqft |
11132 Montecito Drive, El Monte, CA,91731 | $888,000 | 4 | 2 | 1,652 | 6525 Sqft |
3361 Meeker Avenue, El Monte, CA,91731 | $739,000 | 4 | 2 | 1,468 | 4886 Sqft |
4545 Cypress Avenue, El Monte, CA,91731 | $788,000 | 3 | 2 | 1,246 | 8037 Sqft |
11139 Kauffman Street, El Monte, CA,91731 | $1,850,000 | -- | -- | 4,114 | 15300 Sqft |
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ByOwner last updated this listing 05/30/2024 @ 00:30
MLS: AR24003628
LISTED BY: Han Chen, Growth Investment Group Pasade
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.