11441 Asher Street, El Monte, CA 91732
11441 Asher Street, El Monte, CA 91732
11441 Asher Street, El Monte, CA 91732
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John R Thompson

John R Thompson

+1(805) 796-5221
Listed by Ryan Loria • Triqor Group
$12,500,000
Est. payment /mo
39,989 SqFt
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Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 39,989 sqft

Price per Sqft $312

MLS Listing ID PW-26196840

Year Built 1963

Lot Size 1.386 Acres

Property Sub-Type Apartment

Source California Regional Multiple Listing Service (CRMLS)

Property Description

We are pleased to present the exclusive opportunity to acquire Asher Apartments, a well-maintained 65-unit multifamily community located in El Monte, California. Offered for sale for the first time in more than 40 years, this property represents a rare chance to acquire a generational asset with substantial value-add potential in one of the San Gabriel Valley's strongest rental markets. The property features spacious one-bedroom units with interior upgrades including laminate wood and tile flooring, updated kitchens and bathrooms. Residents benefit from a secure, gated community with controlled-access parking, an on-site laundry facility, individual water heaters, and a new roof installed in 2020. Currently operating at an attractive 6.0% cap rate, Asher Apartments offers approximately 25% upside in rental income. By repositioning the asset to market rents, an investor has the opportunity to increase cash flow and achieve an estimated 8.1% pro forma cap rate. Situated on an oversized parcel within El Monte's Qualified Opportunity Zone, the property also offers potential for future ADU development with the potential tax advantages associated with Opportunity Zone investments. We kindly ask that you please DO NOT DISTURB THE TENANTS.

Location

State CA

County Los Angeles

Area 619 - El Monte

Interior

Laundry Common Area

Exterior

Pool None

Community Features Sidewalks

Building

Lot Description Irregular Lot

Sewer Public Sewer

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John R Thompson

John R Thompson

+1(805) 796-5221

Broker/Owner License ID: 01200900

Broker/Owner License ID: 01200900

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11441 Asher Street