Three-unit multifamily investment on two adjacent parcels in the heart of El Monte, offered at $1,499,999 ($500,000/unit, 5.15% cap, 13.74 GRM). The offering consists of a detached front house and a rear duplex, sitting together on a combined ±9,139 SF R3 (EMR3YY) lot that permits multifamily redevelopment — providing a long-term land bank and entitlement story for investors and developers.
Two of three units are delivered fully vacant and recently remodeled, allowing the new owner to set rents to market on day one — a rare opportunity in an LA County submarket where rent control and tenant protection statutes typically prevent immediate rent resets. The front house (3128) is a 2BD/2BA single-family residence leased at $3,300/month, providing immediate cash flow while the rear duplex is leased up. The rear duplex (3130) consists of two 2BD/1BA units underwritten at $2,900/month market rent each. Projected gross income: $109,200 annually.
Tenants pay electricity and gas. Owner pays water, sewer, trash, landscaping, insurance, and taxes. No rent-control reset risk on the vacant rear units, no relocation costs, no displacement exposure.
Location: immediate access to the I-10, I-605, and SR-60 freeways and the Metro El Monte Station — one of the largest transit hubs west of the Mississippi. Directly adjacent to a retail corridor anchored by national tenants, driving tenant convenience and neighborhood activity. Downtown LA is approximately 13 miles west; Pasadena is 10 miles north; Industry, Irwindale, and West Covina employment centers are within a 15-minute drive.
San Gabriel Valley multifamily fundamentals remain strong: 65,000+ market-rate units, vacancy well below LA County average, limited new supply, and ongoing public investment including the El Monte Gateway master plan. Assessor records reflect original 1933/1938 construction as two SFRs on two parcels; property currently operates as three units. Buyer to verify all square footage, unit count, permits, and financials.