No Local Rent Control | Mostly 2BR on 1+ Acre | 3817 Cogswell Rd
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No Local Rent Control | Mostly 2BR on 1+ Acre 3817 Cogswell Rd
28 Unit Apartment Building $10,548,000 CAD ($376,714 CAD/Unit) 4.64% Cap Rate El Monte, CA 91732
Investment Highlights
- Not Subject to Local Rent Control – Higher Allowable Annual Increases Under AB1482
- Desirable Unit Mix – Almost Entirely Two-Bedroom Apartments
- Spacious Floorplans – 25,285 Rentable Square Feet Spread Over 28 Units
- Outstanding North El Monte Location, Next to Temple City
- Large Lot Over One Acre in Size
- Excellent Opportunity to Add Value – Current Rents Approximately 22% Below Market
Executive Summary
Marcus & Millichap is pleased to announce the opportunity to purchase 3817 Cogswell Road, a 28-unit multifamily property situated within the San Gabriel Valley, in the city of El Monte, CA. The 25,285 square foot buildings house 28 units, of which 26 contain two bedrooms. Because El Monte is not subject to more restrictive local rent control laws, an owner can benefit from higher allowable annual rent increases under California AB1482.
The spacious lot totals more than one acre in size, offering a new owner the potential opportunity to add ADUs for a substantial increase in income (Buyer to verify).
Located near the intersection of Ramona Boulevard and Peck Road, the property offers tenants access to several nearby shopping and dining destinations, including The Shops at Santa Anita, The Shops at Montebello, and Plaza West Covina. The neighboring San Gabriel Valley cities of Arcadia, Pasadena, Alhambra, Montebello, and West Covina each boast numerous employment and retail centers, which residents can easily access via the nearby 10 and 605 Freeways as well as the El Monte Metrolink Station.
The spacious lot totals more than one acre in size, offering a new owner the potential opportunity to add ADUs for a substantial increase in income (Buyer to verify).
Located near the intersection of Ramona Boulevard and Peck Road, the property offers tenants access to several nearby shopping and dining destinations, including The Shops at Santa Anita, The Shops at Montebello, and Plaza West Covina. The neighboring San Gabriel Valley cities of Arcadia, Pasadena, Alhambra, Montebello, and West Covina each boast numerous employment and retail centers, which residents can easily access via the nearby 10 and 605 Freeways as well as the El Monte Metrolink Station.
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $10,548,000 CAD | Apartment Style | Low Rise |
| Price Per Unit | $376,714 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Cap Rate | 4.64% | Building Size | 25,285 SF |
| Gross Rent Multiplier | 11.94 | Average Occupancy | 93% |
| No. Units | 28 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 2.14/1,000 SF |
| Price | $10,548,000 CAD |
| Price Per Unit | $376,714 CAD |
| Sale Type | Investment |
| Cap Rate | 4.64% |
| Gross Rent Multiplier | 11.94 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 25,285 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 2.14/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Tile Floors
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $2,367 CAD | 700 |
| 2+1 | 26 | $2,703 CAD | 900 |
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PROPERTY TAXES
| Parcel Number | 8567-003-043 | Total Assessment | $6,764,199 CAD (2024) |
| Land Assessment | $2,367,441 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $4,396,759 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
8567-003-043
Land Assessment
$2,367,441 CAD (2024)
Improvements Assessment
$4,396,759 CAD (2024)
Total Assessment
$6,764,199 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
zoning
| Zoning Code | R3, El Monte |
| R3, El Monte |
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No Local Rent Control | Mostly 2BR on 1+ Acre | 3817 Cogswell Rd
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