2503 Central Avenue, South El Monte, California 91733, South El Monte, 91733 - 3 bed, 3 bath
ACTIVE$1,900,000
2503 Central Avenue, South El Monte, California 91733
3Beds
3Baths
1,780Sqft
28,210Lot
Year Built
1939
Close
-
List price
$1.9M
Original List price
$2M
Price/Sqft
$1,067
HOA
-
Days on market
-
Sold On
-
MLS number
AR24221665
Home ConditionPoor
Features
Good View: Mountain(s)
ViewMountain(s)
About this home
We found 2 Cons,3 Pros. Rank: price - $1.90M(97th), sqft - 1780(71th), beds - 3(50th), baths - 3(60th).
Huge r3 lot for sale, great potential , possible to build 10 units condo apartment, tenant occupied, rent at $3300 per month in m/m lease, purchase includes 8103-024-032.
Condition Rating
Poor
The property was built in 1939 and the images show an outdated kitchen and bathrooms. The overall condition appears to require substantial repairs and rehabilitation. Given the age and visible condition, it's likely that major systems are outdated and may need replacement.
Pros & Cons
Pros
Development Potential: The property features a large R3 lot, offering significant potential for multi-unit development, possibly up to 10 condo units.
Income Property: The property is currently tenant-occupied with a monthly rental income of $3,300, providing immediate cash flow.
Large Lot Size: The lot size of 28,210 sqft provides ample space for development or expansion.
Cons
Year Built: Built in 1939, the existing structure may require significant renovations or upgrades to meet modern standards.
Original List Price Reduction: The property's price has been reduced from its original listing price, which may indicate challenges in the market or property condition.