Applied Realty, Inc.
Listed by Applied Realty, Inc.
$1,300,000
3128 & 3130 Mountain View Road
Details
APN 8565-018-004 (3128): 8565-018-040 (3130)
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,374
Units 3
Cap Rate 4.77%
NOI $66,813
Price per SqFt $415
Year Built 1933 / 1938
Buildings 2
Lot Size (SqFt) 9,139
Zoning EMR3YY (R3 Multifamily Permitted)
Multifamily | 3 Units | Only $385 per SF | Two Vacant Units
Marketing description
Two of three units delivered vacant and recently remodeled on adjacent R3 parcels in El Monte, priced at $1,300,000. Front 2BD/2BA house leased at $3,300 monthly. Rear duplex (two 2BD/1BA units) projected at $2,400 each. Projected GSI $97,200. Vacant delivery on the rear duplex lets the buyer set market rent at closing with no AB 1482 reset risk, no relocation exposure, no displacement cost. A rare open unit play in a submarket where tenant protection rules usually block immediate resets. Combined 9,139 SF R3 (EMR3YY) lot supports multifamily redevelopment. Cash flow today, land bank tomorrow. Tenants pay electric and gas. Owner covers water, sewer, trash, landscaping, insurance, taxes. Minutes to I-10, I-605, and SR-60. Walking distance to Metro El Monte Station, one of the largest transit hubs west of the Mississippi. Downtown LA sits 13 miles west, Pasadena 10 miles north, Industry and West Covina employment centers inside 15 minutes. San Gabriel Valley fundamentals stay strong: vacancy below LA County average, limited new supply, ongoing public investment via the El Monte Gateway master plan. Assessor reflects two SFRs on two parcels. Property currently operates as three units. Buyer to verify square footage, unit count, permits, and financials.
Investment highlights
- Two Vacant, Remodeled Units: The Rear Duplex Is Delivered 100% Vacant With Both Units Fully Renovated. New Owner Sets Rents At Full Market On Day ONE With No Rent Control Reset, No Relocation Costs, And No Displacement Risk.
- Freeway & Transit Access: Within Minutes Of The 1-10, 1-605, And Sr-60 Freeways And The Metro El Monte Station ONE Of The Largest Transit Hubs West Of The Mississippi.
- R3 Multifamily Zoning: Emr3yy Zoning Permits Multifamily Redevelopment Of The Combined +9,139 Sf Lot, Providing A Long-term Land Bank And Entitlement Story For Investors And Developers.
- Adjacent National Retail: The Property Is Directly Adjacent To A Retail Corridor Anchored By National Tenants - Driving Foot Traffic, Neighborhood Activity, And Tenant Convenience.
- Strong In-place Tenant: The Front House Generates $3,300/month From A Long-term Tenant, Providing Immediate Cash Flow While The Rear Units Are Leased Up.
- Tenant Pays Utilities: Tenants Are Responsible For Electricity And Gas, Limiting Owner-paid Expenses To Water, Sewer, Trash, Landscaping, Insurance, And Taxes.
- Price / lot sf $153
- Unit 1: 3128 (Front), 2 BD / 2 BA, Occupied, $3,300/mo
- Unit 2: 3130 (Rear), 2 BD / 1 BA, Vacant (Market), $2,400/mo
- Unit 3: 3130 (Rear), 2 BD / 1 BA, Vacant (Market), $2,400/mo
- Monthly total: $8,100
- Annual gross income: $97,200
- Gross Scheduled Income: $97,200
- Vacancy and Credit Loss (3%): ($2,916)
- Effective Gross Income: $94,284
- Total Operating Expenses: $27,471
- Net Operating Income: $66,813
Listing Contacts
Applied Realty, Inc.
Listed by Applied Realty, Inc.
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$66,813.00
$5,567.75/mo
Valuation Metrics
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DSCR
5.14%
Cap Rate
5.14%
ROI
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