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Listed by Ryan Loria • Triqor Group
$ 4,400,000
Est. payment /mo
Active
2921 Allgeyer Avenue El Monte, CA 91732
12,656 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,656 sqft
Price per Sqft $347
MLS Listing ID CRPW25157841
HOA Y/N No
Year Built 1959
Lot Size 0.776 Acres
Property Sub-Type Other
Source Datashare California Regional
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 Monte’s qualified opportunity zone which presents substantial development and ADU potential as well as potential tax benefits.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Other
Building
Lot Description Irregular Lot
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