Active
11515 11513 Medina Court
El Monte CA, 91731
$1,880,000
$403.78 per sqft
Active
4,656 sqft
Condo
Built in 1959
Listed by Han Chen with Growth Investment Group Pasade 626-594-4900
5.87% CAP and 7.34% Proforma CAP - One of the LOWEST PRICE PER UNIT and the Highest CAP Rate in El Monte. A desirable 9-unit single-story Value-add apartment complex in the heart of El Monte, California. It is strategically located in the heart of El Monte with proximity to major employment centers in the area such as Longo Lexus, Longo Toyota, El Monte Nissan, and many other shopping centers and major employers in the area. El Monte City Hall (police department, courthouse) is only a mile away, and it offers superb access to FWY 10. This location offers superb area amenities to tenants with a Walk Score of 81. There is no local rent control which provides maximum allowable rent increases under California AB1482. Current rents are significantly below market providing +-30% rental upside through unit upgrades.
The property was built in 1959 and situated on a large +-12,092SF R4 zoned lot (ADUs upside possible, buyer to verify). It consists of two single-story buildings with a center walkway. It offers an easy to manage layout with all 1bed+1bath units. The property has been somewhat upgraded with double pane windows throughout, and some units have been updated as recently as 2014-2015. Each unit has laminate/vinyl wood flooring, updated kitchen with granite countertops, and new bathroom. Most of the plumbing in the units have been updated as needed.
Parking is provided via twelve open space parking. Each unit is individually metered for electricity and gas. Laundry is provided via a shared laundry room. The property is an easy apartment to rent due to its convenient location. It offers easy access to many local and national retailers and is just minutes away from FWY 10. The property is located on a side street right off intersection of Peck Rd and Ramona Blvd, and within walking distance to many major employment centers in San Gabriel Valley. It is also minutes away from Valley Blvd, a major retail corridor and close to many multi-million-dollar new developments such as Magellan Gateway (+-501,000 SF business parks development on Temple City Blvd), Holiday Inn - a +-133 room hotel that was recently completed, El Monte Gateway Project (a development project consisting of +-485 units of housing and +-25,000 square feet of retail), and many more.
11515 Medina Ct benefits from its prime location, with proximity to major transportation routes, educational institutions, shopping centers, recreational areas, and employment hubs.
AR24003628
MLSⓇ ID
January 7, 2024
Listed
May 9, 2024
Updated
Map
11515 11513 Medina Court
El Monte CA, 91731
Interior Features
Total Stories
1
Appliances
Gas Range
Laundry Description
Common Area
Floor Description
Tile, Vinyl
Fireplace
Yes
Fireplace Description
None
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.28 Acres
Lot Features
Level, No Landscaping, Near Public Transit, Rectangular Lot, Street Level
Roof
Asbestos Shingle
Sewer
Public Sewer
Other Property Details
Area Name
619 - El Monte
Taxes
$18,516
Tax Frequency
Annually
Days on Market
107
Garage
No
Parking
Driveway
Parking Total
12
View
No
View Description
None
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
0
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
---|---|---|
4/23/2024 | Price Change | $1,880,000 -6% |
Listing Contact: 626-594-4900
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/9/2024 at 1:38 PM UTC