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Key Details
Sold Price $3,750,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV22034547
Sold Date 06/15/22
Bedrooms 8
HOA Y/N No
Lot Size 0.472 Acres
Property Description
We are pleased to exclusively offer for sale this 16 unit (+2 additional non-conforming units) multi-family investment property in the city of El Monte. The subject property is comprised 12 (2Bed/1Bath) units, 4(1Bed/1Bath) Units, and 2(Studios-Non Conforming). 16 of the units are separately metered for electricity and gas while the owner pays for electricity for the common area lighting and electricity and gas for the onsite laundry room. The property offers a total of 11,424 rental sqft of which are situated on a 20,569 sqft lot. Tenants enjoy gated automatic entry, onsite laundry facility and onsite covered parking. With a potential upside of 62% in rental income (assuming "substantial improvement" or similar repositioning of the property) a new investor can enjoy a 9+% cash return on investment with market rents in place.
We are pleased to exclusively offer for sale this 16 unit (+2 additional non-conforming units) multi-family investment property in the city of El Monte. The subject property is comprised 12 (2Bed/1Bath) units, 4(1Bed/1Bath) Units, and 2(Studios-Non Conforming). 16 of the units are separately metered for electricity and gas while the owner pays for electricity for the common area lighting and electricity and gas for the onsite laundry room. The property offers a total of 11,424 rental sqft of which are situated on a 20,569 sqft lot. Tenants enjoy gated automatic entry, onsite laundry facility and onsite covered parking. With a potential upside of 62% in rental income (assuming "substantial improvement" or similar repositioning of the property) a new investor can enjoy a 9+% cash return on investment with market rents in place.
Location
State CA
County Los Angeles
Area South El Monte (91733)
Zoning Assessor
Building
Lot Description Curbs, Sidewalks
Story 2
Level or Stories 2 Story
Others
Acceptable Financing Cash
Space Rent $1,300
Listing Terms Cash
Financing Cash
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Bought with KRISTOPHER GERMAN • RE/MAX 2000 REALTY