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3420 Santa Anita AVE El Monte, CA 91731
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Key Details
Sold Price $4,432,500
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,958 sqft
Price per Sqft $342
MLS Listing ID SR21144335
Sold Date 12/27/21
HOA Y/N No
Year Built 1948
Lot Size 0.585 Acres
Acres 0.5849
Property Description
We are pleased to present the Santa Anita Garden apartments exclusively for sale. 18 units delivering a going in cap rate of 4.8% with 17% upside in rents. During the pandemic, El Monte rents actually grew while many other cities saw spikes in vacancy and drop in asking rents, per Costar. Alongside the BILLION Dollar Investment initiative of El Monte, the affordability vs other surrounding areas proves to be a strong investment foothold for landlords.
El Monte's new state of the art bus station facility sees 40,000 passengers making it the largest bus station west of Chicago, and with the Metro very close, tenants can truly be non-reliant on automobile ownership and expenditures. Situated on over half acre of land, individual hot water heaters, good walkability and growing community.
** For offering memorandum or questions about this opportunity, contact listing agent ***
Location
State CA
County Los Angeles
Area 619 - El Monte
Zoning EMR4YY
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Biking
Private Pool No
Building
Lot Description 16-20 Units/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 8579004009
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with Levon Alexanian • Keller Williams World Media Center