Detailed Introduction Of This Home
11513 Medina Ct, El Monte, a desirable 9-unit single-story bread and butter apartment complex in the heart of El Monte, California. This property represents an exceptional investment opportunity, offering stable cash flow potential and attractive long-term growth prospects in a thriving rental market. It is strategically located near major employment centers in the area such as Longo Lexus, Longo Toyota, El Monte Nissan, and many other shopping centers and major employers in the area. There is no local rent control which provides maximum allowable rent increases under California AB1482. Current rents are significantly below market providing ±30% rental upside through unit upgrades.
The property was built in 1959 and situated on a large ±12,092SF R4 zoned lot (ADUs upside possible, buyer to verify). It consists of two single-story buildings with a center walkway. It offers an easy to manage layout with all 1bed+1bath units. The property has been somewhat upgraded with double pane windows throughout, and some units have been updated as recently as 2014-2015. Each unit has laminate/vinyl wood flooring, updated kitchen with granite countertops, and new bathroom. Most of the plumbing in the units have been updated as needed.
Parking is provided via twelve open space parking. Each unit is individually metered for electricity and gas. Laundry is provided via a shared laundry room. The property is an easy apartment to rent due to its convenient location. It offers easy access to many local and national retailers and is just minutes away from FWY 10. The property is located on a side street right off intersection of Peck Rd and Ramona Blvd, and within walking distance to many major employment centers in San Gabriel Valley. It is also minutes away from Valley Blvd, a major retail corridor and close to many multi-million-dollar new developments such as Magellan Gateway (±501,000 SF business parks development on Temple City Blvd), Holiday Inn – a ±133 room hotel that was recently completed, El Monte Gateway Project (a development project consisting of ±485 units of housing and ±25,000 square feet of retail), and many more.
11513 Medina Ct benefits from its prime location, with proximity to major transportation routes, educational institutions, shopping centers, recreational areas, and employment hubs. The property's central location ensures convenient access to everything residents may need, contributing to its attractiveness as a rental property.