10914 Main StEl Monte, CA 91731

Property Details for 10914 Main St

Year built

1929

Property size (Sq ft)

13,472 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

Exceptional investment opportunity in El Monte, California, presents a mixed-use property at 10914 Main St, boasting 13,472 square feet on a 10,163 square foot lot. This property, built in 1929 and zoned EMC2, offers five units, currently including two long-term retail tenants on the ground floor and a vacant second floor. The second floor presents a significant value-add opportunity for conversion into approximately four to five residential or office units, subject to city approvals. The asking price is $2,600,000, translating to $192.99 per square foot. The property benefits from convenient access to city public parking directly behind the building, ensuring ample parking for tenants and customers. Its strategic location in the downtown El Monte district places it near prominent businesses, including a Chase Bank and the County Courthouse. The property features an approximate 63-foot frontage. Current gross income is $102,000 per year, with a potential cap rate of 6.34%, although the current cap rate is 2.26%. This property offers a compelling blend of established income and significant upside potential. The price per square foot of land is also $192.99. Further investigation into permitted uses is recommended by contacting the city.

Location Insight

City

El Monte

County

Los Angeles

State

California

Latitude

34.0744

Longitude

-118.037

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