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12145 Wanda Street, El Monte, California 91732, El Monte, 91732 - 6 bed, 4 bath

12145 Wanda Street, El Monte, California 91732 home-pic-0
ACTIVE$920,000
12145 Wanda Street, El Monte, California 91732
6Beds
4Baths
1,752Sqft
6,132Lot
Year Built
1975
Close
-
List price
$920K
Original List price
$1M
Price/Sqft
$525
HOA
-
Days on market
-
Sold On
-
MLS number
TR25050261
Home ConditionFair
Features
View-

About this home

Possibly Over-Priced:The estimated price is 21% below the list price. We found 3 Cons,5 Pros. Rank: price - $920.0K(79th), sqft - 1752(59th), beds - 6(97th), baths - 4(85th).

Are you a smart investor or home buyer? !!!!!!!!!!!!!!Great location in North El Monte. Gated house located in a quite and safe community. Easy access to highway I-10 and I-605. Close to school, shopping centers and Asian supermarket. The single house was built in 1943 with 638 SQFT, owner started to make addition 1114 SQFT and complete renovation of the original one in 2006 with permits, replaced the roof and install laminated wood floor, installed gas pipe, double pane windows**** County accessor put 1975 as the Effective Year Built****Owner lives in 3 bedrooms and 2 baths with spacious living room, remodeled kitchen with big dining table. Tenants live in a 2 bedrooms, 1 bath with separate entrance and kitchen. (Please refer to the floor plan on the 19th picture) ******Kitchen was remodeled 6 years ago with new granite countertop and new cabinets, range hood*****Detached garage with 180 SQFT permitted addition ( not included in the 1752 SQFT building) and laundry area has been converted to a bedroom with living room and bathroom for rental income. ******It's easy for the new owner to convert the house back to a 5 bedroom 3 baths single house with a 2 car detached garage***** Or live in the 3 bedroom main house and rent out the other 2 bedroom unit and the garage conversion unit for about $4000 monthly income.*****Assume 20% down, 6.5% 30 years rate fix, monthly payment $4,550.89, property tax $900 monthly, with 50% DTI (Debit to Income Ratio) , buyers need $10901.78 monthly income to be approved for loan; with $4000 monthly rental income, buyers need $8,101.78 monthly income only. ******Seller is willing to help to get the permits for the JADU and ADU before escrow closings if additional rental income required to be qualified for the mortgage loans.****You may buy it with your relatives or friends together since the house could be divided into 3 units with separate entries.

Condition Rating
Fair
The property, originally built in 1943 with an effective year built of 1975, underwent an extensive renovation in 2006 (18 years ago) and a kitchen remodel 6 years ago. The main kitchen features modern black cabinets, granite countertops, and stainless steel appliances, presenting a good condition. However, at least one bathroom (as seen in image 6) appears dated with older fixtures, white tile with black trim, and signs of wear on the walls, indicating a need for updates. While the laminated wood flooring is a positive, the overall age of the original structure and the inconsistent level of updates across all areas, particularly the bathrooms, suggest that minor updates and repairs are required to bring the entire property to a more contemporary standard. The 2006 renovation falls within the 15-30 year range for a 'Fair' condition property.
Pros & Cons

Pros

Exceptional Rental Income Potential: The property is configured for multi-unit living (main house, 2-bed unit, garage conversion) with an estimated $4,000 monthly income, significantly aiding mortgage qualification. The seller is also willing to assist with JADU/ADU permits before closing.
Strategic Location & Accessibility: Located in North El Monte within a gated community, offering easy access to major highways (I-10, I-605) and close proximity to schools, shopping centers, and Asian supermarkets.
Extensive Renovations & Upgrades: The property underwent significant additions and a complete renovation in 2006 with permits, including a replaced roof, laminated wood flooring, gas pipe installation, and double-pane windows. The kitchen was also remodeled 6 years ago.
Flexible Living Arrangements: The property offers versatile configurations, allowing for conversion back to a 5-bedroom, 3-bath single house, owner-occupancy with rental income, or co-ownership with separate entries for multiple families/investors.
Gated Community & Security: Situated in a quiet and safe gated community, providing enhanced privacy and security for residents.

Cons

Significant Overpricing/Valuation Gap: The listing price of $920,000 is substantially higher than the estimated property value of $725,535.06, indicating a -21% estimation ratio, which may deter potential buyers or complicate financing.
Unclear Permitting Status of Rental Units: While renovations and additions were done with permits, the description implies that the separate rental units (2-bedroom unit and garage conversion) may not yet be fully permitted as legal JADUs or ADUs, as the seller offers to assist with obtaining these permits before escrow closing. This could lead to future legal or financial complications for the buyer.
Older Original Structure: Despite extensive renovations and an effective year built of 1975, the original house structure dates back to 1943. This older foundation and core infrastructure might present unforeseen maintenance issues or require more significant upkeep compared to newer constructions.

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