3817 Cogswell Rd - Apartments FOR SALE


El Monte, CA 91732
$7,500,000 USD
818-219-6146
3817 Cogswell Rd, El Monte, CA for Sale
$7,500,000 USD
Apartments - FOR SALE
1/12
null | 4.64% Cap Rate

3817 Cogswell Rd
El Monte, CA 91732


HIGHLIGHTS

  • Not Subject to Local Rent Control – Higher Allowable Annual Increases Under AB1482
  • Outstanding North El Monte Location, Next to Temple City
  • Desirable Unit Mix – Almost Entirely Two-Bedroom Apartments
  • Large Lot Over One Acre in Size
  • Spacious Floorplans – 25,285 Rentable Square Feet Spread Over 28 Units
  • Excellent Opportunity to Add Value – Current Rents Approximately 22% Below Market

OVERVIEW

Marcus & Millichap is pleased to announce the opportunity to purchase 3817 Cogswell Road, a 28-unit multifamily property situated within the San Gabriel Valley, in the city of El Monte, CA. The 25,285 square foot buildings house 28 units, of which 26 contain two bedrooms. Because El Monte is not subject to more restrictive local rent control laws, an owner can benefit from higher allowable annual rent increases under California AB1482. The spacious lot totals more than one acre in size, offering a new owner the potential opportunity to add ADUs for a substantial increase in income (Buyer to verify). Located near the intersection of Ramona Boulevard and Peck Road, the property offers tenants access to several nearby shopping and dining destinations, including The Shops at Santa Anita, The Shops at Montebello, and Plaza West Covina. The neighboring San Gabriel Valley cities of Arcadia, Pasadena, Alhambra, Montebello, and West Covina each boast numerous employment and retail centers, which residents can easily access via the nearby 10 and 605 Freeways as well as the El Monte Metrolink Station.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$297 USD /SF

# OF UNITS

28

PRICE/UNIT

$267,857

CAP RATE

4.64%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

No Local Rent Control | Mostly 2BR on 1+ Acre

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,418 SF

ZONING

R3, El Monte

APN/PARCEL ID

8567-003-043

ASK ABOUT THIS PROPERTY

Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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Rick RaymundoMarcus and MillichapMore Info
818-219-6146

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.