Log In/Sign Up
Your email has been sent.
Asher Apartments 11441 Asher St 65 Unit Apartment Building $12,500,000 ($192,308/Unit) 6.04% Cap Rate El Monte, CA 91732
Investment Highlights
- Multi-Generational Asset, First Time on The Market in Over 40 Years
- 6% Cap Rate on Current, 8.1% with Market Rents
- Located in a Qualified Opportunity Zone
- Priced Under $200,000 Per Unit, With Approx. 25% Upside in Rents
- Gated Community with Recently Replaced Roof and Individual Water Heaters
Executive Summary
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.
Property Facts
| Price | $12,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $192,308 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.39 AC |
| Cap Rate | 6.04% | Building Size | 39,989 SF |
| Gross Rent Multiplier | 10.07 | No. Stories | 2 |
| No. Units | 65 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.63/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | EMR4YY - General Commercial | ||
| Price | $12,500,000 |
| Price Per Unit | $192,308 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| Gross Rent Multiplier | 10.07 |
| No. Units | 65 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.39 AC |
| Building Size | 39,989 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.63/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | EMR4YY - General Commercial |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 65 | $1,540 | 600 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 8566-022-012 | Improvements Assessment | $3,876,741 |
| Land Assessment | $706,702 | Total Assessment | $4,583,443 |
Property Taxes
Parcel Number
8566-022-012
Land Assessment
$706,702
Improvements Assessment
$3,876,741
Total Assessment
$4,583,443
1 of 19
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Contact the Sale Advisor
Asher Apartments | 11441 Asher St