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2828 Consol AVE El Monte, CA 91733
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Key Details
Sold Price $3,750,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV22034547
Sold Date 06/15/22
HOA Y/N No
Year Built 1963
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.
Location
State CA
County Los Angeles
Area 619 - El Monte
Zoning EMR3YY
Interior
Fireplace No
Laundry Common Area, Inside
Exterior
Carport Spaces 18
Pool None
Community Features Curbs, Street Lights, Sidewalks
Total Parking Spaces 18
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8105002013
Energy Description 1358.0
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 KRISTOPHER GERMAN • RE/MAX 2000 REALTY