$2,050,000
$2,075,000
1.2%For more information regarding the value of a property, please contact us for a free consultation.
2529 Adelia AVE South El Monte, CA 91733
6,267 SqFt
Key Details
Sold Price $2,050,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 6,267 sqft
Price per Sqft $327
MLS Listing ID CV24039778
Sold Date 05/31/24
HOA Y/N No
Year Built 1948
Lot Size 0.392 Acres
Property Description
We are pleased to offer for sale this multi-unit residential property in the city of South El Monte which boasts a unique combination of side by side Triplex & Fourplex, offering a diverse unit mix. Investors will appreciate the potential to utilize residential financing with 30-year fixed loans available for each parcel, enhancing the accessibility of this lucrative venture. The property features a thoughtfully designed layout including a 4-bedroom/2-bathroom cottage, two 3-bedroom/1-bathroom units, a 2-bedroom/1-bathroom cottage, two additional 2-bedroom/1-bathroom units, and a 1-bedroom/1-bathroom cottage, catering to a wide range of tenant needs.
Spanning across two contiguous parcels, totaling over 17,000 square feet of land, this investment opportunity provides ample space for tenants to enjoy onsite open areas and convenient carport parking.
Each unit within the property is individually metered for electricity and gas, offering convenience and flexibility for both tenants and ownership. Furthermore, the current ownership has undertaken significant capital improvements, including new roofs installed on the majority of structures including carports, complete remodeling of the 1-bedroom cottage with updates such as copper plumbing and new electrical, installation of a new water main line, and more.
With a substantial 35% upside in rental income, this property presents a compelling opportunity for investors seeking to capitalize on the San Gabriel Valley rental market.
Location
State CA
County Los Angeles
Area 657 - So. El Monte
Zoning SER3*
Rooms
Ensuite Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup
Interior
Laundry Location Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Garage Spaces 2.0
Carport Spaces 4
Garage Description 2.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 14
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 8102024037
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Kristopher German • RE/MAX 2000 REALTY