For Sale
$2,400,000

3923 Durfee AveEl Monte, CA 91732

15-Unit Multifamily, High-Growth Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
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.

Highlights

  • Excellent freeway access (Interstates 10, 60, 91, and 605).
  • Near San Gabriel Valley Airport.
  • Fully gated 15-unit apartment building.
  • R3 zoning; permitted for Adult Residential Care Facility (ARF) use for 21 years.
  • New roof installed March 2024.
  • Large 21,109 sq ft lot; potential for townhome development or multifamily expansion (verification required).

Property Details for 3923 Durfee Ave

Property type
Apartment buildings
Year Built
1959
Buildings
2
Stories
1
Units
15

Location Insight

City
El Monte
County
Los Angeles
State
California
Latitude
34.0724449
Longitude
-118.0077365
3923 Durfee Ave, El Monte, California

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3923 Durfee Ave
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