Multifamily
3817 Cogswell Rd
3817 Cogswell Rd, El Monte, CA 91732
Listing Price: $7,500,000
Investment 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 AB 1482.
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.
3817 Cogswell Rd
Investment 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
- Potential for ADU Development for Dramatic Boost to Cash Flow (Buyer to Verify)
- Attractive GRM When Compared to Similar El Monte Sales
Listing Price: $7,500,000
Investment 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
- Potential for ADU Development for Dramatic Boost to Cash Flow (Buyer to Verify)
- Attractive GRM When Compared to Similar El Monte Sales
Investment 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 AB 1482. 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.
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