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… Read More 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. Read Less
Property listed by CB RICHARD ELLIS, ERIC CHEN 626-757-5717
Listing Snapshot
Days Online
125
Last Updated
Property Type
Apartment
Lot Size
0.29 Acres
Year Built
1953
MLS Number
CV25073511
30 Days Snapshot Of 91732
$751k
-5%
(avg) sold price
12
+20%
homes sold
82
+7%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1953, Building area total: 3,272, Levels: One, 1 story, 5 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Curbs, Sidewalks
Cooling
WallWindowUnits
Expenses
Electric expense: $1,254, Fuel expense: $554, Gardener expense: $1,200, Insurance expense: $3,750, Maintenance expense: $3,750, New taxes expense: $20,060, Operating expense: $39,963, Trash expense: $4,928, Water sewer expense: $3,467, Other expense: $1,000
Garage
1 space
Heating
WallFurnace
Income
Gross income: $110,220, Net operating income: $66,951
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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