Description
SB 79 LIVE - 18-Unit Stabilized Multifamily + Immediate Transit-Oriented Redevelopment Upside. This 18-unit single-story apartment building (all studios, approximately 400 sq ft each) offers both strong current cash flow and immediate by-right density upside under the state's new transit-oriented development law. Built in 1968 on a flat 0.61-acre rectangular lot with gated access, carport/open parking, on-site laundry income, separate electric meters, and an on-site manager unit. Owner-reported average rents of approximately $1,050 per unit remain well below current El Monte studio market rents (approximately $1,300-$1,550). Strategically located just 0.48 miles (straight-line) from El Monte Station (Metrolink + Metro J Line BRT). Zoned EMR-4 and now eligible for SB 79 density, height, and parking standards in a qualifying TOD zone. Potential to redevelop into 60-75+ units with incentives - a significant equity creation opportunity for value-add investors and developers. Ideal for buyers seeking stabilized income today with a clear, state-backed path to higher density. Important: Buyers and buyer's agents must independently verify all information, including but not limited to unit sizes, actual rents and expenses, zoning, environmental conditions, flood zone status, tenant estoppels, and SB 79 eligibility (professional survey confirmation required). No representations or warranties are made by the seller, listing agent, or any party. Property is sold "AS-IS, WHERE-IS."
Details
| MLS # | TR26056692 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1968 |
| Days On Site | 209 |
| Listing Provided By | Imax Realty & Mortgage Inc. | Leonard Hsu |
Features
| SQ Feet | 7,200 |
|---|---|
| Story(s) | 1 |
| Units | 18 |
| Acreage | 0.61 |
Exterior
| Lot Features | Sixteen To Twenty Units Acre |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | El Monte |
| Zip Code | 91731 |
| Area | 619 El Monte |
| Listing VS Median (in 91731) | |
Price: $4,500,000 low | high Med: $1,136,000 sqft: 7,200 low | high Med: 2,358 $ / sqft: $625 low | high Med: $482 On site: 209 low | high Med: 28 | |
Market Activity 91731
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | El Monte |
| Zip Code | 91731 |
| Area | 619 El Monte |
| Listing VS Median (in 91731) | |
Price: $4,500,000 low | high Med: $1,136,000 sqft: 7,200 low | high Med: 2,358 $ / sqft: $625 low | high Med: $482 On site: 209 low | high Med: 28 | |