8
See all 8 photos
$4,700,000
Est. payment /mo
3 Beds
2 Baths
New
2921 Allgeyer Avenue El Monte, CA 91732
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25157841
Bedrooms 3
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present The Greenwood Apartments, an 18-unit apartment community in El Monte, CA. This property features an ideal unit mix of large 1 and 2-bedroom units, gated entry, carport parking, individual gas and electric meters, as well as individual water heaters. The building has undergone several upgrades such as a new roof (2025), new electrical panels, new paint, and new windows. Interiors have been tastefully renovated with granite countertops, laminate wood flooring, upgraded bathrooms, and stainless-steel appliances. This multigenerational asset has been meticulously maintained and professionally managed throughout ownership and is on the market for the first time in 50 years. The property generates a current cap rate of 4.5%, 6.1% with market rents, offering an investor roughly 22% upside in rental income. Furthermore, the property sits on an oversized lot in El Montes qualified opportunity zone which presents substantial development and ADU potential as well as potential tax benefits.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Driving East On Garvey Ave., Turn Right Onto Valley Blvd., Turn Right Onto Allgeyer Ave., Property Will Be on Your Right
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 8106003026
Listed by Ryan Loria Triqor Group