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$ 2,490,000
Est. payment | /mo
5,188 SqFt
$ 2,490,000
Est. payment | /mo
5,188 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,188 sqft
Price per Sqft $479
MLS Listing ID CL25509123
HOA Y/N No
Year Built 1959
Lot Size 6,077 Sqft
Acres 0.14
Property Sub-Type Other
Property Description
Maywood Property Group is pleased to offer this rare investment opportunity: a 10-unit apartment building in the rapidly growing city of El Monte. Built in 1959, this well-maintained property features (9) one- bedroom, one-bathroom units and (1) charming studio unit. With the potential to add two to four ADUs, pending city approval, this asset presents a unique value-add opportunity. The property is situated at the end of a private cul-de-sac, directly adjacent to Cogswell Elementary School, making it highly attractive to long-term tenants. 11102 Bonwood Road has maintained a historically low vacancy rate due to strong rental demand, and it is currently being offered at an attractive near 6% cap rate on existing rents.The property has already seen significant improvements, with (7) out of (10) units remodeled, yet still offers additional upside potential. Investors can increase revenue by updating the remaining (3) units, adding an on- site washer and dryer for supplementary laundry income (as the laundry room is already built), and monetizing garage parking spaces, either by leasing them to tenants or converting them into additional ADUs. With its strong current cash flow and multiple avenues for increased returns, this property is a compelling opportunity for savvy investors lo
Location
State CA
County Los Angeles
Zoning EMR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 8105019030
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Listed by Nicholas Hayner • Maywood Property Group