3711 Monterey Rd, El Sereno, CA 90032

Property Description

RENT INCREASED - new Cap Rate: 3.67% - Prime El Sereno triplex recently upgraded and fully-leased. Located on Monterey Road south of Hermon, east of Debbs Park, and tucked between the Monterey Hills and Rose Hills. This 3-unit property is priced like an SFR, so it has solid long term potential. Listed for less than $242K per unit, this triplex consists of a stand alone SFR which is a 2 bedroom/1 bath home (approx. 921 SF) and two-1 bedroom/1 bath units (approx. 604 SF each). All three units have well-designed and spacious floor plans, as well as laundry hook-ups in each unit. The front building is a side-by-side duplex (built in 1938) with a grass yard behind it, the back house is a stand alone SFR (built in 1952). Seller has recently invested into valuable improvements, including new shower stalls/tubs/tile in front unit bathrooms, as well as new windows in the west unit. Seller also renovated exterior of all buildings and improved the landscaping in November 2018. There is also a two-car detached garage between the dwellings that is perfect for leasing out to tenants for additional income, the garage is currently used by landlord for storage. Gross rental income is currently $3,704 per month/$44,448 per year. LA County records show combined SF at 2,129 for the 3 units, the lot is approximately 7,540 SF. This multi-unit property provides an excellent buy-and-hold opportunity for an astute investor.