2708 Penn Mar Ave, El Monte 2708 Penn Mar Avenue
El Monte, CA 91732
For Sale
12,468 sqft
Sale Price
$1,275,000
Brochure
Property Website
Map
Multifamily For Sale - Available April 2025
Just Listed: 5 Units in El Monte | All Single Story Bungalow Style Unit
Prime Rental Location in San Gabriel Valley – Located just West of the 605-FWY less than 15-Miles from DTLA and Bordered by San Gabriel, Monterey Park, Rosemead, and Montebello cities
Convenient Location just Blocks from Heavy Retail Corridors on Garvey Ave and Valley Blvd – Property is Situated Less than a half mile from Several Big Name Retailers like CVS, Food-4-Less, Northgate Supermarket, Starbucks, and More
Attractive Parcel Configuration with All Single-Story Bungalow-Style Floorplans Spanning Across a ±12,500 SF Lot
Boasts Strong In-Place Rents for the Area - Averaging ± $1,837 per Month, the Property Offers a 5.38% CAP Rate and 11.57 GRM
6.35% CAP Rate and 10.37 GRM at Market Rents
Unit Mix Features 4, 1-Bedroom/1-Bathroom and 1, 2-Bedroom/1-Bathroom Units, Avg. 600 and 850 SF
Not Subject to any Local Rent Control – Allowing Higher Annual Rent Increases of 5% Plus Current CPI
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955
Kevin Sin
Lic: 02020968
CBRE Inc., as the Exclusive Advisor, is 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 5.38% CAP Rate and 11.57 GRM with upside via annual increases or improvements to market rent over time.
2708 Penn Mar Avenue is a prime El Monte income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
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 5.38% CAP Rate and 11.57 GRM with upside via annual increases or improvements to market rent over time.
2708 Penn Mar Avenue is a prime El Monte income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Geographic Overview
El Monte, California, is a city situated in the western San Gabriel Valley within Los Angeles County. Characterized by its urban setting, it occupies a land area of approximately 5.16 square miles. Geographically, El Monte is part of a cluster of cities that includes Alhambra, Arcadia, and San Gabriel, contributing to a densely populated region. The city’s location within the broader Los Angeles metropolitan area places it within a network of interconnected communities. Notably, El Monte has a significant Asian-American population, which contributes to the area’s diverse cultural landscape.
GENERAL ECONOMIC OVERVIEW
The San Gabriel Valley (SGV) is a thriving economic region within Los Angeles County, characterized by a diverse industrial base and a robust service sector. Key industries driving the SGV’s economy include manufacturing, trade, transportation, and warehousing. The region is home to numerous manufacturing facilities, particularly in the aerospace, electronics, and automotive sectors. Additionally, the SGV boasts a thriving retail and hospitality industry, supported by its proximity to major transportation hubs and popular tourist destinations.
Top employers in the SGV include major corporations in industries such as aerospace, healthcare, and technology. The region’s strong economic performance has fueled a steady population growth, leading to a strong demand for housing, particularly rental properties. This growing demand for rental housing presents a significant opportunity for multifamily investors seeking to capitalize on the SGV’s thriving real estate market.
El Monte City Economic Overview
El Monte, a densely populated city within the western San Gabriel Valley, Los Angeles County, spans roughly 5.16 square miles. Its urban setting and proximity to major transportation routes contribute to a diverse community and economic landscape. A significant Asian-American population shapes the city’s cultural and commercial character.
El Monte’s economy balances retail, services, and small businesses. Retail caters to the local population, while small businesses drive economic activity. The city actively promotes growth through business-friendly policies and support, leveraging its diverse demographics to foster specialized services and economic prosperity.
El Monte, California, is a city situated in the western San Gabriel Valley within Los Angeles County. Characterized by its urban setting, it occupies a land area of approximately 5.16 square miles. Geographically, El Monte is part of a cluster of cities that includes Alhambra, Arcadia, and San Gabriel, contributing to a densely populated region. The city’s location within the broader Los Angeles metropolitan area places it within a network of interconnected communities. Notably, El Monte has a significant Asian-American population, which contributes to the area’s diverse cultural landscape.
GENERAL ECONOMIC OVERVIEW
The San Gabriel Valley (SGV) is a thriving economic region within Los Angeles County, characterized by a diverse industrial base and a robust service sector. Key industries driving the SGV’s economy include manufacturing, trade, transportation, and warehousing. The region is home to numerous manufacturing facilities, particularly in the aerospace, electronics, and automotive sectors. Additionally, the SGV boasts a thriving retail and hospitality industry, supported by its proximity to major transportation hubs and popular tourist destinations.
Top employers in the SGV include major corporations in industries such as aerospace, healthcare, and technology. The region’s strong economic performance has fueled a steady population growth, leading to a strong demand for housing, particularly rental properties. This growing demand for rental housing presents a significant opportunity for multifamily investors seeking to capitalize on the SGV’s thriving real estate market.
El Monte City Economic Overview
El Monte, a densely populated city within the western San Gabriel Valley, Los Angeles County, spans roughly 5.16 square miles. Its urban setting and proximity to major transportation routes contribute to a diverse community and economic landscape. A significant Asian-American population shapes the city’s cultural and commercial character.
El Monte’s economy balances retail, services, and small businesses. Retail caters to the local population, while small businesses drive economic activity. The city actively promotes growth through business-friendly policies and support, leveraging its diverse demographics to foster specialized services and economic prosperity.
Total Space Available
12,468 sqft
Sale Price
$1,275,000
Amenity
The Shops at Montebello
Mall
5.2 miles
Highway
10 Freeway
1 miles
605 Freeway
1 miles
CommuterRail
El Monte Metrolink
1.8 miles
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955
Kevin Sin
Lic: 02020968