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$ 12,500,000
Est. payment | /mo
1 Bed
1 Bath
1.39 Acres Lot
$ 12,500,000
Est. payment | /mo
1 Bed
1 Bath
1.39 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26196840
Bedrooms 1
Lot Size 1.386 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present the exclusive opportunity to acquire Asher Apartments, a well-maintained 65-unit multifamily community located in El Monte, California. Offered for sale for the first time in more than 40 years, this property represents a rare chance to acquire a generational asset with substantial value-add potential in one of the San Gabriel Valleys strongest rental markets. The property features spacious one-bedroom units with interior upgrades including laminate wood and tile flooring, updated kitchens and bathrooms. Residents benefit from a secure, gated community with controlled-access parking, an on-site laundry facility, individual water heaters, and a new roof installed in 2020. Currently operating at an attractive 6.0% cap rate, Asher Apartments offers approximately 25% upside in rental income. By repositioning the asset to market rents, an investor has the opportunity to increase cash flow and achieve an estimated 8.1% pro forma cap rate. Situated on an oversized parcel within El Montes Qualified Opportunity Zone, the property also offers potential for future ADU development with the potential tax advantages associated with Opportunity Zone investments. We kindly ask that you please DO NOT DISTURB THE TENANTS.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Going North on Peck Rd., Turn Right Onto Asher St., Property Will be on Your Left
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 8566022012
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Ryan Loria, DRE#02006138 Triqor Group
Nearby Locations
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Johnny Fitzmaurice