2921 Allgeyer Avenue new Save Request In-Person Tour Request Virtual Tour
El Monte,CA 91732
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 12,656 sqft
Price per Sqft $371
MLS Listing ID PW-25157841
Year Built 1959
Lot Size 0.776 Acres
Property Sub-Type Apartment
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
Area 619 - El Monte
Zoning EMR3YY
Interior
Laundry Common Area
Exterior
Parking Features Gated
Pool None
Community Features Sidewalks
Building
Lot Description Irregular Lot
Sewer Public Sewer