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Listed by Jennie Leung • Keller Williams Signature Realty
$1,450,000
Est. payment /mo
6,279 SqFt
New
11122 Bonwood Road El Monte, CA 91733
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UPDATED:
12/13/2024 12:02 AM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,279 sqft
Price per Sqft $230
MLS Listing ID TR-24221847
Year Built 1958
Lot Size 6,279 Sqft
Property Description
We are proud to present a unique 12-unit investment opportunity at 11122 and 11126 Bonwood Ave., El Monte--a prime asset in the thriving West San Gabriel Valley listed at $2,900,000. These two adjacent, two-story courtyard-style communities, built in 1958, boast excellent curb appeal and stable cash flow. Combined, the properties sit on a total lot size of 12,734 sqft, featuring an approximate total building size of 10,204 sqft, with twelve spacious two-bedroom, one-bathroom units averaging ?850 sqft each (buyer to verify), totaling 24 bedrooms and 12 bathrooms. Each unit offers an open floor plan, a welcoming living room, and generously sized bedrooms, fostering a comfortable and community-oriented atmosphere among tenants, many of whom have lived here for over a decade. The properties share a secure courtyard, a greenbelt front yard, twelve rear parking spots, and additional street parking. Both buildings are separately metered, with a total of 14 gas meters, 14 electrical meters, and 2 water meters, and they include a shared laundry facility for additional income. With two APN numbers (8105019034 and 8105019035), this combined investment offers various opportunities to maximize income, including rental increases, laundry income, and upgrades to units or amenities. El Monte's absence of a local rent control ordinance allows for annual rent increases of up to 10% or 5% + CPI per California AB1482. Additionally, owning this income property allows investors to maximize various tax benefits, including cost segregation. Located near Durfee and Rush Rd, this property is ideally positioned close to local shopping and dining options, such as CVS, Superior Grocers, Marshalls, Panda Express, Starbucks, and El Monte Community Hospital. Surrounded by Temple City, Arcadia, San Gabriel, and Rosemead, this complex is just 15 miles from Downtown Los Angeles and 29 miles from Ontario Airport, with seamless access to the 60, 10, and 605 freeways, the El Monte Metrolink Station, public transportation, and all major San Gabriel Valley amenities. This dual-building investment offers a unique opportunity for investors seeking steady income growth in a high-demand area.
Location
State CA
County Los Angeles
Zoning EMR3*
Interior
Heating Forced Air
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry Community
Exterior
Parking Features Gated
Pool None
Community Features Sidewalks
Utilities Available See Remarks
Building
Lot Description Rectangular Lot
Sewer Public Sewer
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