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2843 Meeker, El Monte, California 91732, El Monte, 91732 - 3 bed, 2 bath

2843 Meeker, El Monte, California 91732 home-pic-0
ACTIVE$1,798,000$3,065/sqft
2843 Meeker, El Monte, California 91732
3Beds
2Baths
3,065Sqft
12,313Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Diversified Income Streams: The property offers a unique combination of residential, commercial, and land lease income, providing multiple revenue sources and enhanced financial stability.
Top Cons:
Age of Property: Built in 1934, the property may require significant capital expenditure for updates, repairs, or modernization of its infrastructure and systems.

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: The residential unit, built in 1934, is significantly aged. While functional and tenant-occupied, the kitchen features dated wood cabinets, older countertops, and utilitarian lighting, with only one visibly newer appliance (range). The bedroom shows worn carpet and basic finishes. The overall aesthetic is very outdated, and the property's age suggests a high likelihood of needing substantial rehabilitation for major systems (plumbing, electrical, HVAC) and significant cosmetic updates to meet modern standards. The listing's own analysis notes the property 'may require significant capital expenditure for updates, repairs, or modernization of its infrastructure and systems,' aligning with the 'poor' condition criteria.
Year Built
1934
Close
-
List price
$1.8M
Original List price
$1.8M
Price/Sqft
$587
HOA
-
Days on market
-
Sold On
-
MLS number
AR26012775
Home ConditionPoor
Features
Patio
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
The residential unit, built in 1934, is significantly aged. While functional and tenant-occupied, the kitchen features dated wood cabinets, older countertops, and utilitarian lighting, with only one visibly newer appliance (range). The bedroom shows worn carpet and basic finishes. The overall aesthetic is very outdated, and the property's age suggests a high likelihood of needing substantial rehabilitation for major systems (plumbing, electrical, HVAC) and significant cosmetic updates to meet modern standards. The listing's own analysis notes the property 'may require significant capital expenditure for updates, repairs, or modernization of its infrastructure and systems,' aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Diversified Income Streams: The property offers a unique combination of residential, commercial, and land lease income, providing multiple revenue sources and enhanced financial stability.
Strong Investment Potential: Described as an 'excellent investment opportunity with good CAP rate,' the property offers immediate income and significant long-term growth potential through value-add opportunities.
Prime Corner Lot Location: Situated on a well-sized corner lot with 'prime Garvey Avenue frontage' for the commercial units, ensuring high visibility and accessibility.
Tenant Flexibility: All tenants are on month-to-month leases, providing the owner with flexibility for future repositioning, redevelopment, or rent adjustments to maximize returns.
Established Commercial Tenant: One commercial unit is occupied by a 'long-established hair salon,' indicating a stable and reliable income source from a proven business.

Cons

Age of Property: Built in 1934, the property may require significant capital expenditure for updates, repairs, or modernization of its infrastructure and systems.
Potential for Tenant Turnover: While month-to-month leases offer flexibility, they also carry a higher risk of tenant turnover and potential vacancy periods compared to properties with long-term lease agreements.
Management Complexity: Managing a mixed-use property with residential, commercial, and land lease components, each with separate meters, can be more complex and time-consuming than a single-use property.
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