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Listing Details

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On Market
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MLS #
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School Ratings & Info

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 ***

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-16T19:34:59.243. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
www.homesinthehighdesert.com/homes/118946691
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3420 Santa Anita Avenue El Monte, CA 91731

  • Price: $4,550,000
  • Status: Active
  • Updated: 30 min ago
  • ID#: SR21144335
0
Beds
0
Baths
0
½ Baths
0.58
Acres
1948
Built
Neighborhood:
619 - El Monte
County:
Los Angeles
Area:
619 - El Monte
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 ***
Exterior Features

Lot Features 16-20 Units/Acre Number Of Separate Electric Meters 19 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Cap Rate 4.72 Common Interest None Community Features Biking Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 309648 Gross Scheduled Income 309648 Insurance Expense 0 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New LoanConventional1031 Exchange Net Operating Income 214607 New Construction YN No Number Of Separate Gas Meters 19 Number Of Separate Water Meters 1 Operating Expense 88848 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Emr4yy

Listing provided courtesy of Levon Alexanian of Keller Williams World Media Center


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-16T19:34:59.243. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
 
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RE/MAX Freedom
12180 Ridgecrest Rd. Building E Ste. 522
Victorville CA, 92395