2708 Penn Mar Ave El Monte, CA 91732
Mountain View NeighborhoodEstimated payment $8,793/month
Highlights
- No HOA
- Laundry Room
- 1-Story Property
- Cooling System Mounted To A Wall/Window
- Wall Furnace
- 5-minute walk to Mountain View Park
About This Home
We are proud to present 2708 Penn Mar Ave, a 5-unit multifamily property in the City of El Monte.
The property is located within the city of El Monte and not subject to any local rent control. The city of El Monte is located within the San Gabriel Valley and amongst the more dense rental markets in the area with over 60% of the housing stock being renter occupied. The city is situated just 15-miles from DTLA and only a few blocks from the 605- and 10 freeways. Tenants enjoy short commutes to many notable attractions like Dodger Stadium, Hollywood Blvd, Crypto.Com Arena, Sofi Stadium, and Intuit Dome. The city is also less than 30-miles from Long Beach and Los Angeles Airports. More intimately, tenants enjoy being walking distance to several retailers along Garey Ave and Valley Blvd like CVS, Food- 4-Less, Northgate Market, and more. El Monte High School and other grade schools and parks are also within a short walk from the property.
2708 Penn Mar Ave is a 5-unit multifamily property offering 4, 1-Bedrooms and 1, 2-Bedroom units. All units are single-story bungalow-style units averaging 600 and 850 square feet. The property sits on an expansive +/- 12,468 square foot lot and offers ample space for on-site parking via garage and covered parking. The property currently collects $9,185 per month from rents and has additional revenue stream potential from on-site parking and an on-site laundry facility. The opportunity is presented at a healthy 4.78% CAP Rate and 12.70 GRM with upside via annual increases or improvements to market rent over time.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1953
Lot Details
- 0.29 Acre Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Parking
- 4 Open Parking Spaces
- 1 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 3,272 Sq Ft Home
- 1-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
Listing and Financial Details
- Legal Lot and Block 21 / 2
- Tax Tract Number 13568
- Assessor Parcel Number 8106018013
- $1,792 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 5 Buildings
- 5 Units
Amenities
- Laundry Facilities
Building Details
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,254
- Fuel Expense $554
- Gardener Expense $1,200
- Insurance Expense $3,750
- Maintenance Expense $3,750
- Other Expense $1,000
- Trash Expense $4,928
- Water Sewer Expense $3,467
- New Taxes Expense $20,060
- Operating Expense $39,963
- Gross Income $110,220
- Net Operating Income $66,951
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/04/2025 04/04/25 | For Sale | $1,400,000 | +16.7% | $428 / Sq Ft |
| 12/23/2016 12/23/16 | Sold | $1,200,000 | -4.0% | $367 / Sq Ft |
| 10/28/2016 10/28/16 | Pending | -- | -- | -- |
| 10/07/2016 10/07/16 | For Sale | $1,250,000 | +56.1% | $382 / Sq Ft |
| 09/10/2015 09/10/15 | Sold | $801,000 | +19.7% | $245 / Sq Ft |
| 08/17/2015 08/17/15 | Pending | -- | -- | -- |
| 07/30/2015 07/30/15 | For Sale | $669,000 | -- | $204 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV25073511
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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