2708 Penn Mar Ave, El Monte — Sale in El Monte, CA

  • Price: $1.3M
  • Listing type: For sale
  • Asset type: Business
  • Location: El Monte, CA 91732

Description

Just Listed: 5 Units in El Monte | All Single Story Bungalow Style Unit CBRE Inc., as the Exclusive Advisor, is proud to present 2708 Penn Mar Ave, a 5-unit multifamily property in the City of El Monte. ​​​​​​​ The property is located within the city of El Monte and not subject to any local rent control. The city of El Monte is located within the San Gabriel Valley and amongst the more dense rental markets in the area with over 60% of the housing stock being renter occupied. The city is situated just 15-miles from DTLA and only a few blocks from the 605- and 10 freeways.  Tenants enjoy short commutes to many notable attractions like Dodger Stadium, Hollywood Blvd, Crypto.Com Arena, Sofi Stadium, and Intuit Dome. The city is also less than 30-miles from Long Beach and Los Angeles Airports. More intimately, tenants enjoy being walking distance to several retailers along Garey Ave and Valley Blvd like CVS, Food-4-Less, Northgate Market, and more. El Monte High School and other grade schools and parks are also within a short walk from the property.  2708 Penn Mar Ave is a 5-unit multifamily property offering 4, 1-Bedrooms and 1, 2-Bedroom units. All units are single-story bungalow-style units averaging 600 and 850 square feet. The property sits on an expansive ±12,468 square foot lot and offers ample space for on-site parking via garage and covered parking. The property currently collects $9,185 per month from rents and has additional revenue stream potential from on-site parking and an on-site laundry facility. The opportunity is presented at a healthy 5.38% CAP Rate and 11.57 GRM with upside via annual increases or improvements to market rent over time.  2708 Penn Mar Avenue is a prime El Monte income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.

Market Context

This commercial property in El Monte, CA is listed for sale at $1,275,000. It has been on the market for 12 days. Compare it against other commercial property listings for sale in El Monte, CA — view the full market.

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