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2843 Meeker, El Monte, California 91732, El Monte, 91732 - bed, bath

2843 Meeker, El Monte, California 91732 home-pic-0
ACTIVE$1,798,000$3,065/sqft
2843 Meeker, El Monte, California 91732
0Bed
0Bath
3,065Sqft
12,313Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Diversified Income Streams: The property generates revenue from a commercial duplex, a residential unit, and a leased parking lot, ensuring multiple sources of stable cash flow.
Top Cons:
Property Age: Built in 1934, the property is older, which may necessitate higher maintenance costs or require significant capital investment for system upgrades and modernization.

Compared to the nearby listings

Price:$1.80M vs avg $1.17M (+$629,000)89%
Size:3,065 sqft vs avg 2,616 sqft78%
Price/sqft:$587 vs avg $53567%

More Insights

Built in 1934 (92 years old).
Condition: Built in 1934, the property's residential unit shows significant age and wear. The kitchen features dated light wood cabinets, older laminate/granite-look countertops, an older black refrigerator, and utilitarian lighting. The flooring consists of dated ceramic tile in main areas and worn carpet in the bedroom. While functional and tenant-occupied, the overall condition suggests a lack of substantial renovation for several decades, likely requiring significant capital investment for system upgrades and modernization, aligning with the 'poor' category.
Year Built
1934
Close
-
List price
$1.8M
Original List price
$1.8M
Price/Sqft
$587
HOA
-
Days on market
-
Sold On
-
MLS number
AR26011009
Home ConditionPoor
Features
View-

About this home

Excellent investment opportunity with good CAP rate. This income-producing corner lot offers a rare combination of residential and commercial uses with strong, stable cash flow. The property features a commercial duplex with prime Garvey Avenue frontage located at 11534 Garvey Ave. One unit is occupied by a long-established hair salon that has successfully operated at this location for many years. Located behind the commercial building is a tenant-occupied single-family residence at 2843 Meeker Ave. Separate utility meters for the residential and the commercial units. In addition, a large rear lot is currently leased to a nearby auto shop for parking, providing supplemental rental income. Both the commercial duplex, the residential unit, and leased lot contribute to consistent monthly revenue. All tenants are on month-to-month leases, offering flexibility for future repositioning, redevelopment, or rent adjustments. This well-sized corner lot presents strong upside potential and multiple value-add opportunities, making it ideal for investors seeking both immediate income and long-term growth.

K
Kai Kyi
Listing Agent

Price History

Date
Event
Price
06/08/15
Sold
$730,000
10/04/06
Sold
$650,000
Condition Rating
Poor
Built in 1934, the property's residential unit shows significant age and wear. The kitchen features dated light wood cabinets, older laminate/granite-look countertops, an older black refrigerator, and utilitarian lighting. The flooring consists of dated ceramic tile in main areas and worn carpet in the bedroom. While functional and tenant-occupied, the overall condition suggests a lack of substantial renovation for several decades, likely requiring significant capital investment for system upgrades and modernization, aligning with the 'poor' category.
Pros & Cons

Pros

Diversified Income Streams: The property generates revenue from a commercial duplex, a residential unit, and a leased parking lot, ensuring multiple sources of stable cash flow.
Strong Investment Potential: Described as an 'excellent investment opportunity with good CAP rate' and offering 'strong upside potential and multiple value-add opportunities' for long-term growth.
Prime Commercial Location: Features commercial frontage on Garvey Avenue and is a desirable corner lot, enhancing visibility and business prospects for the commercial units.
Flexible Lease Terms: All tenants are on month-to-month leases, providing the owner with significant flexibility for future repositioning, redevelopment, or rent adjustments.
Established Commercial Tenant: One commercial unit is occupied by a long-established hair salon, indicating proven commercial viability and stability for a key income stream.

Cons

Property Age: Built in 1934, the property is older, which may necessitate higher maintenance costs or require significant capital investment for system upgrades and modernization.
Tenant Turnover Risk: While flexible for the owner, month-to-month leases can also lead to less long-term tenant commitment and potentially higher turnover compared to properties with longer-term contracts.
Complex Management: Managing a mixed-use property with commercial, residential, and parking tenants, each with separate meters, can be more complex and demanding than a single-use property.
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