Property Detail

Description

SB79 - 18-Unit Multifamily Investment Property – Stabilized Cash Flow + Major Transit-Oriented Redevelopment Potential. Built in 1968, this single-story apartment building (all studios, approximately 400 sq ft each) sits on a flat, rectangular lot with gated access, carport/open parking, on-site laundry income, separate electric meters, and an on-site manager unit. Currently producing strong cash flow with owner-reported average rents of approximately $1,050 per unit (well below current El Monte studio market rents of $1,272–$1,575). Strategically located just 0.48 miles (straight-line) from El Monte Station (Metrolink commuter rail + Metro J Line BRT). This transit-adjacent site is zoned EMR-4 (high-density multifamily) and positioned for potential intensification under SB 79 (Abundant & Affordable Homes Near Transit Act, effective July 1, 2026), which may allow ministerial approvals for higher density, height, and reduced parking standards in qualifying TOD zones. Ideal for value-add investors or developers seeking to maximize equity through redevelopment (60–75+ units possible with incentives). Buyers and buyer’s agents must independently verify EVERY detail including (but not limited to) unit sizes, actual rents/expenses, zoning, environmental conditions, flood zone status, tenant estoppels, SB 79 eligibility (requires professional survey confirmation), and all legal/financial aspects. No representations or warranties are made by the seller, listing agent, or any party. Property is presented “AS-IS, WHERE-IS.”