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Key Details
Sold Price $1,930,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV22086103
Sold Date 07/27/22
Bedrooms 9
Property Sub-Type Res Income 2-4 Units
Type of Financing Cash
Property Type Res Income 2-4 Units
Property Description
We are pleased to exclusively offer for sale this 6 unit multi-family investment located in the desirable rental community of El Monte. The subject property is comprised of all single story constructed units; 4 detached cottage style units and a duplex style structure. The unit mix consists of 2(3Bed/1Bath)s & 4(2Bed/1Bath)s for a total rentable square footage of 5,963 SqFt. The lot is a good size measuring 22,452 SqFt. Tenants enjoy private laundry hookups as well as onsite open space parking. The property has been under the current ownership for some time with the rental rates being kept well below market level. A new investor can take advantage of a potential 28% upside in rental income with the right tenant improvements. The San Gabriel Valley has recently experienced tremendous growth in market rental rates as tenants continue to move east of the greater Los Angeles area.
Location
State CA
County Los Angeles
Zoning Assessor
Direction North of I-10, West of I-605; Near Intersection of Valley Blvd & Rowland Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Acceptable Financing Cash
Listing Terms Cash
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Bought with YUAN CHEN Pinnacle Real Estate Group
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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