3923 Durfee AveEl Monte, CA 91732

This exceptional investment opportunity presents a 15-unit apartment building situated on a substantial 21,109 square foot lot in El Monte, California. Built in 1959, the property consists of two single-story buildings and boasts a newly installed roof (March 2024). Currently zoned R3, the property is permitted for Adult Residential Care Facilities (ARF) and has operated as such for 21 years. The property's strategic location offers convenient access to major freeways, including Interstates 10, 60, 91, and 605, as well as proximity to the San Gabriel Valley Airport. The fully gated property features 15 rooms and 6 bathrooms, presenting a strong foundation for continued operation as an ARF or potential redevelopment. The large lot size presents significant development potential, with possibilities including the construction of multiple townhomes (verification required) or expanding the existing structure to maximize the number of ARF or multifamily units by adding a second story (verification required). The property's location in El Monte, near Rio Hondo College and other educational institutions, adds to its appeal. This is a rare chance to acquire a well-maintained, income-generating property with substantial upside potential in a desirable location. The asking price is $2,400,000.