Thank you
Kristopher German
RE/MAX 2000 REALTY
626-956-0188
We are pleased to offer for sale this multi-unit residential property in the city of South El Monte which boasts a unique combination of side by side Triplex & Fourplex, offering a diverse unit mix. Investors will appreciate the potential to utilize residential financing with 30-year fixed loans available for each parcel, enhancing the accessibility of this lucrative venture. The property features a thoughtfully designed layout including a 4-bedroom/2-bathroom cottage, two 3-bedroom/1-bathroom units, a 2-bedroom/1-bathroom cottage, two additional 2-bedroom/1-bathroom units, and a 1-bedroom/1-bathroom cottage, catering to a wide range of tenant needs. Spanning across two contiguous parcels, totaling over 17,000 square feet of land, this investment opportunity provides ample space for tenants to enjoy onsite open areas and convenient carport parking. Each unit within the property is individually metered for electricity and gas, offering convenience and flexibility for both tenants and ownership. Furthermore, the current ownership has undertaken significant capital improvements, including new roofs installed on the majority of structures including carports, complete remodeling of the 1-bedroom cottage with updates such as copper plumbing and new electrical, installation of a new water main line, and more. With a substantial 35% upside in rental income, this property presents a compelling opportunity for investors seeking to capitalize on the San Gabriel Valley rental market.
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Water Source : Public
Sewer : Public Sewer
Year Built: 1948
Building Area Total: 6,267
None
Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3924
Lot Size Source: Assessor
Lot Size Square Feet: 17092
Original List Price: 2,075,000
Listing Contract Date: 2024-02-27
Listing Agreement: Exclusive Right To Sell
Parcel Number: 8102024037
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Pending
Source Neighborhood: 657 - So. El Monte
Postal Code Plus 4: 1710
Directions: South of I-10, West of I-605; Near the Intersection of Fern St & Adelia Ave
Zoning: SER3*
Source Property Type: Residential Income
Area: 657 - So. El Monte
Property SubType: Apartment
Property Age: 76
Common Walls: 2+ Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
2429 Central Avenue, South El Monte, CA,91733 | $2,300,000 | -- | -- | -- | 30217 Sqft |
2503 Central Avenue, South El Monte, CA,91733 | $1,980,000 | -- | -- | -- | 28210 Sqft |
50 Harmony Drive, South El Monte, CA,91733 | $849,000 | 4 | 2 | 1,778 | 10778 Sqft |
11338 Farndon Street, South El Monte, CA,91733 | $830,000 | 3 | 2 | 1,318 | 6757 Sqft |
2514 Sastre Avenue, South El Monte, CA,91733 | $820,000 | 2 | 1 | 610 | 9656 Sqft |
2408 Edwards Avenue, South El Monte, CA,91733 | $2,350,000 | -- | -- | -- | 30283 Sqft |
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ByOwner last updated this listing 05/18/2024 @ 09:35
MLS: CV24039778
LISTED BY: Kristopher German, RE/MAX 2000 REALTY
SOURCE: CRMLS
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.