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Listed by Ryan Loria • Triqor Group
$4,400,000
Est. payment /mo
0.78 Acres Lot
Price Dropped by $300K
2921 Allgeyer AVE El Monte, CA 91732
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25157841
Year Built 1959
Lot Size 0.776 Acres
Source California Regional MLS
Property Description
We are pleased to present The Greenwood Apartments, an 18-unit apartment community in El Monte, CA. This property features an ideal unit mix of large 1 and 2-bedroom units, gated entry, carport parking, individual gas and electric meters, as well as individual water heaters. The building has undergone several upgrades such as a new roof (2025), new electrical panels, new paint, and new windows. Interiors have been tastefully renovated with granite countertops, laminate wood flooring, upgraded bathrooms, and stainless-steel appliances. This multigenerational asset has been meticulously maintained and professionally managed throughout ownership and is on the market for the first time in 50 years. The property generates a current cap rate of 4.5%, 6.1% with market rents, offering an investor roughly 22% upside in rental income. Furthermore, the property sits on an oversized lot in El Monte's qualified opportunity zone which presents substantial development and ADU potential as well as potential tax benefits.
Location
State CA
County Los Angeles
Area 619 - El Monte
Interior
Laundry Laundry Area
Exterior
Pool None
Building
Lot Description Irregular
Water District - Public
Others
Tax ID 8106003026
Special Listing Condition Not Applicable
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