3817 Cogswell Rd El Monte, CA 91732-2453

This exceptional 28-unit apartment building, located at 3817 Cogswell Road in El Monte, California, presents a compelling investment opportunity. The property boasts 25,285 square feet of rentable space spread across three, two-story buildings on a spacious 45,418 square foot lot (over one acre). Built in 1979, the property features a desirable unit mix, primarily consisting of two-bedroom apartments. The asking price is $8,000,000, representing a price per unit of $285,714 and a price per square foot of $316.39. The current Net Operating Income (NOI) is $341,828, yielding a 4.27% cap rate, with a pro-forma cap rate of 6.46%. Benefiting from its location in El Monte, which is not subject to restrictive local rent control, the property allows for higher allowable annual rent increases under California AB 1482. The property's strategic location near the intersection of Ramona Boulevard and Peck Road provides convenient access to major freeways (10 and 605) and public transportation (El Monte Metrolink Station), as well as numerous shopping and dining options at The Shops at Santa Anita, The Shops at Montebello, and Plaza West Covina. The large lot size presents a potential opportunity for the addition of Accessory Dwelling Units (ADUs), further enhancing income potential (buyer to verify). The property is zoned EMR3*. The Los Angeles County Assessor's Parcel Number (APN) is 8567-003-043. This fee simple ownership offers significant upside potential for a savvy investor. Current rents are approximately 22% below market, indicating substantial room for rent growth.