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Key Details
Sold Price $950,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV22135839
Sold Date 09/07/22
HOA Y/N No
Year Built 1937
Lot Size 5,858 Sqft
Property Description
We are pleased to offer for sale this 5 unit multi-family property in the city of El Monte. The subject property is comprised of 5 units spread across 3 separate structures. The front structure is a single story duplex that offers 2(1Bed/1Bath) units. The second structure is a two-story building with 2(1bed/1bath) units situated above four 1-car garages. The last structure is a single story 1Bed/1Bath unit. All units are separately metered for electricity and gas while the owner pays for water and trash. The current owner has held the property for a number of years and kept the rental rates well below market. With a substantial improvement approach, a new investor can reposition the subject property to earn nearly a 9% cash-on-cash return. This property can be purchased independently or in conjunction with the 2 unit duplex property (MLS#CV22135823) that shares the common driveway. There is also a 3rd contiguous parcel for sale as well (MLS#CV22135853) All combined the 3 properties offer 8 units and a total lot size of 20,682 Zoned R4.
Location
State CA
County Los Angeles
Area 619 - El Monte
Zoning EMR4YY
Interior
Fireplace No
Laundry Electric Dryer Hookup, Gas Dryer Hookup, Inside
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 8577011022
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Dan Tan • TANDEM REAL ESTATE. INC.