2307 Continental AVE South El Monte, CA 91733
0.41 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PF25094533
HOA Y/N No
Year Built 1960
Lot Size 0.415 Acres
Property Sub-Type Apartment
Property Description
The property consists of two freestanding units in the front and six units in the back. They are all single-story, bungalow-style units. There are seven 2bdr/1bath units. One unit is a legal 1bdr/1bath unit operating as a 2bdr/1bath unit. It may be possible to legalize this unit through the ADU program. Buyer to verify.
There are 8 dedicated covered parking spaces. However, the driveway has ample room to fit several more cars comfortably. It is independently metered for gas and electricity, and there are in-unit washer and dryer hookups. Although there have not been recent capital expenditures to the roof, electrical, or plumbing, the driveway was repaved two years ago at the cost of nearly $12,000. The buildings are of wood & stucco composition and have pitched roofs. Units utilize wall air-conditioning/heating units. The owner pays for water, sewer, trash and common area electricity. Tenants pay for their own gas and electricity usage.
2307 Continental Avenue represents a rare opportunity to acquire a generational asset with a desirable unit mix of a majority 2bdr 1bath single-story, bungalow-style units on an 18,026 R-3 zoned lot with ample parking. The asset yields strong-in place rental income in a tenant-dense submarket. A prospective Buyer may benefit from the attractive seller financing offered by acquiring the property with only 20% downpayment at 5.75% interest only for 10 years.
Location
State CA
County Los Angeles
Area 657 - So. El Monte
Zoning SER3*
Interior
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Parking Features Covered
Carport Spaces 8
Pool None
Community Features Sidewalks
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Total Parking Spaces 8
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 8104023002
Acceptable Financing Cash to New Loan, Owner May Carry
Listing Terms Cash to New Loan, Owner May Carry
Special Listing Condition Standard
