3923 Durfee AveEl Monte, CA 91732

Property Details for 3923 Durfee Ave

Year built

1959

Construction

WOOD

Lot size

0.48 AC

Property size (Sq ft)

4,548 SF

Zone code

EMR3*

Property type

Residential income properties

Property subtype

Residential income homes

APN

8549-018-014

APU

8549018014

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,511,159

  6.5%

  $1,394,916

  7%

  $1,295,279

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,334,932

  Geo Method

  $1,340,514

• Alternative Use

  Use

  Valuation

  Residential

  $1,394,916

  Hospitality

  $1,277,736

  Educational

  $1,063,061

  Medical

  $1,099,621

  Retail

  $1,653,650

Location Insight

City

El Monte

County

Los Angeles

State

California

Latitude

34.0724

Longitude

-118.008

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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