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Frank Chen
Mobile Phone:
626-826-9280
fchen41@gmail.com

DRE# 01408328
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Frank Chen
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Mobile Phone:
626-826-9280
fchen41@gmail.com

DRE# 01408328
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11323 Schmidt Road,  El Monte CA, 91733 (Residential Income)

Status: Sold
MLS#: CV17271447
1of
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Last Updated: 6/17/2019 1:57 AM
Description for 11323 Schmidt Road El Monte, CA 91733
The Schmidt Road Apartments is located south of the I-10 Freeway between Peck Road and Mountain View Road. It is conveniently located near the I-10, 60, and I-605 Freeways. The property is ideally situated 1.5 miles from Greater El Monte Community Hospital and Metrolink Station, and walking distance to many dining and retail establishments, primary and secondary schools, and public parks. The Schmidt Road Apartments is currently at 100% occupancy rate with upside potential in rent with all units being able to generate an additional monthly rent of $225 for one-bedroom unit and $225 for two-bedroom unit. This would generate an increased total of $2,000 per month based on the current rental market, which would lead to an approximately 18% increase in income. The Schmidt Road Apartments is a stable income-producing property and a great long-term investment. It is located in a desirable, non-rent controlled area and offers growth and stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.
Price
Sold Price:
$1,975,000
Sold Date:11/09/2018
Los Angeles
CV17271447
Closed
Description
The Schmidt Road Apartments is located south of the I-10 Freeway between Peck Road and Mountain View Road. It is conveniently located near the I-10, 60, and I-605 Freeways. The property is ideally situated 1.5 miles from Greater El Monte Community Hospital and Metrolink Station, and walking distance to many dining and retail establishments, primary and secondary schools, and public parks. The Schmidt Road Apartments is currently at 100% occupancy rate with upside potential in rent with all units being able to generate an additional monthly rent of $225 for one-bedroom unit and $225 for two-bedroom unit. This would generate an increased total of $2,000 per month based on the current rental market, which would lead to an approximately 18% increase in income. The Schmidt Road Apartments is a stable income-producing property and a great long-term investment. It is located in a desirable, non-rent controlled area and offers growth and stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.
Listing Information
Property Type: Cluster, Other
0.38 Acres 16,471 sq.ft. $305.4
1959
9 Total
Neighborhood
Room Information
Gas Dryer Hookup
Exterior / Lot Features
None
No Pool
EMR3YY
Suburban
Driving Directions
South of the I-10 Freeway between Peck Road and Mountain View Road
Financial Considerations
8105016024
$134,400 Income ,$47,683Expense
Listing Price History

El Monte Real Estate

El Monte is located in California. El Monte, California 91733 has a population of 116,732.

The median household income in El Monte, California 91733 is $40,930. The median household income for the surrounding county is $55,870 compared to the national median of $53,482. The median age of people living in El Monte 91733 is 35 years.

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Courtesy: ERIC CHEN - CB RICHARD ELLIS
Licensed in: DRE# 01489184
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