2708 Penn Mar Avenue, El Monte, CA 91732 - MLS#CV25073511

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 1,400,000

Est. payment | -/mo

3 Beds

2 Baths

Save

$ 1,400,000

Est. payment | -/mo

Save

3 Beds

2 Baths

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV25073511

Bedrooms 3

Property Sub-Type Res Income 2-4 Units

Property Description

We are proud to present 2708 Penn Mar Ave, a 5-unit multifamily property in the City of El Monte. The property is located within the city of El Monte and not subject to any local rent control. The city of El Monte is located within the San Gabriel Valley and amongst the more dense rental markets in the area with over 60% of the housing stock being renter occupied. The city is situated just 15-miles from DTLA and only a few blocks from the 605- and 10 freeways. Tenants enjoy short commutes to many notable attractions like Dodger Stadium, Hollywood Blvd, Crypto.Com Arena, Sofi Stadium, and Intuit Dome. The city is also less than 30-miles from Long Beach and Los Angeles Airports. More intimately, tenants enjoy being walking distance to several retailers along Garey Ave and Valley Blvd like CVS, Food- 4-Less, Northgate Market, and more. El Monte High School and other grade schools and parks are also within a short walk from the property. 2708 Penn Mar Ave is a 5-unit multifamily property offering 4, 1-Bedrooms and 1, 2-Bedroom units. All units are single-story bungalow-style units averaging 600 and 850 square feet. The property sits on an expansive +/- 12,468 square foot lot and offers ample space for on-site parking via garage and covered parking. The property currently collects $9,185 per month from rents and has additional revenue stream potential from on-site parking and an on-site laundry facility. The opportunity is presented at a healthy 4.78% CAP Rate and 12.70 GRM with upside via annual increases or improvements to market rent over time.

Location

State CA

County Los Angeles

Zoning Assessor

Direction Merge onto I-10 W, Take exit 30 for Garvey Ave/Durfee Ave, Turn left onto Durfee Ave, Turn right onto Magnolia St, Turn left ont

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 1

Level or Stories 1

Others

Tax ID 8106018013

Listed by ERIC CHEN CB RICHARD ELLIS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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2708 Penn Mar Avenue El Monte, CA 91732