This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/1
2629 Gage Avenue, El Monte, CA 91733
$6,800,000
2629 Gage Avenue, El Monte, CA 91733View this property at 2629 Gage Avenue, El Monte, CA 91733
2629 Gage AvenueEl MonteCA91733
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/1
Property Description
We are pleased to exclusively offer for sale this multi-family investment opportunity in the vibrant city of El Monte. This newly listed property features a collection of 29 units, showcasing true pride of ownership. The subject property predominantly consists of two-story townhouse-style units (28 Units), complemented by a quaint 2-Bedroom/1-Bathroom cottage, all extremely spacious in size. Occupying an oversized lot of 47,437 square feet, the property offers an expansive 24,734 square feet of rental space, designed to cater to the modern tenant's needs.
The entire property benefits from copper plumbing, ensuring durability and reducing maintenance concerns. Ample car-port parking and generous open spaces address the practical needs of residents, while the onsite laundry facility and private backyards in each unit add a touch of convenience and privacy to their living experience. Tenants are responsible for their own electricity and gas, allowing for easier management of utilities.
Currently offered at 13 GRM and a 4.72% CAP Rate, a standout feature of this investment is the significant potential for a 40% increase in rental income, with all units currently poised for a rental adjustment (April 2024.) This opportunity is further enhanced by attractive private seller financing terms; 35% Down Payment, 6.5% Interest-Only Payments, Due in 10 years. This investment offers not only a stable income stream but also a considerable upside in rental income, making it an ideal choice for discerning investors seeking growth and sustainability in their portfolio.
Full Property Details
Full Property Details for 2629 Gage Ave
General
- Sold For: $6,800,000
- Status: Closed
- Type: Multi-Family
- MLS ID: CV24042328
- Added to Site: 76 day(s) ago
Rooms
Other Rooms
- Laundry: Community, Inside
Additional Information
- Pool Description: None
Location
- Area: 619 - El Monte
- County: Los Angeles
- Development Name: 619 - El Monte
- Driving Directions: South of I-10, West of I-605; Near the Intersection of Elliott Ave & Gage Ave
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 29
- # Electric Meters: 29
Structural Information
- Entry Location: 1
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 24,734
- Year Built: 1937
Unit Information
Unit 1
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Number of Units: 2
- Total Bathrooms: 2
- Bedrooms: 2
Unit 3
- Number of Units: 3
- Total Bathrooms: 2
- Bedrooms: 2
Unit 4
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 2
Unit 5
- Number of Units: 2
- Total Bathrooms: 2
- Bedrooms: 2
Unit 6
- Number of Units: 3
- Total Bathrooms: 2
- Bedrooms: 2
Unit 7
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 2
Unit 8
- Number of Units: 2
- Total Bathrooms: 2
- Bedrooms: 2
Unit 9
- Number of Units: 3
- Total Bathrooms: 2
- Bedrooms: 2
Unit 10
- Total Bathrooms: 2
- Bedrooms: 2
Unit 11
- Total Bathrooms: 2
- Bedrooms: 2
Unit 12
- Total Bathrooms: 2
- Bedrooms: 2
Unit 13
- Total Bathrooms: 2
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 1.089
- Lot Size Source: Assessor
- Zoning: EMR3YY
- Lot Description: 26-30 Units/Acre, Lot Over 40000 Sqft
Financial Considerations
- Price Per Sq. Ft.: $274.93
- Price Per Unit: 244828
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Re/Max 2000 Realty, Kristopher German
Get Pre-Approved Today
Schools
Schools serving 2629 Gage Ave
School Districts:El Monte Union High School District, Mountain View Elementary School District
Rating | Name | Grades | Distance |
---|---|---|---|
10620 Schmidt Rd, S El Monte, CA 91733 | K-6 | 0.2 mi | |
Kranz Intermediate School
12460 Fineview St, El Monte, CA 91732 | 7-8 | 1.4 mi | |
3048 Tyler Ave, El Monte, CA 91731 | 9-12 | 0.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2629 Gage Ave
Date
Details
Price
Change
Source
3/27/2024
Sold
$6,800,000
-4.23%
MLS
3/01/2024
Listed
$7,100,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2629 Gage Avenue, El Monte, CA 91733 (MLS# CV24042328) is a Multi-Family property that was sold at $6,800,000 on March 27, 2024. Want to learn more about 2629 Gage Avenue? Do you have questions about finding other Multi-Family real estate for sale in El Monte? You can browse all El Monte real estate or contact a Coldwell Banker agent to request more information.