steve chang, senior partner...steve chang, senior partner 626.381.9885 direct 626.491.2668 mobile...
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STEVE CHANG, Senior Partner
626.381.9885 Direct
626.491.2668 Mobile
DRE: 02028509
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agents, advisors, affiliates and/or any third party sources are provided without representation or
warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of
compliance with applicable governmental requirements, developability or suitability, financial
performance of the property, projected financial performance of the property for any party’s intended
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COMMERCIAL will not investigate or verify any such matters or conduct due diligence for a party
unless otherwise agreed in writing.
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BROKER OF RECORD
251 S. Lake Avenue, Suite 320
Pasadena, CA 91101
DRE: 01444805
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ADDRESS 2532 BRYCE ROAD
CITY EL MONTE, CA 91732
APN 8108-007-007
UNITS 5
UNIT MIX2 – 2 BED / 1 BATH SFR1 – 1 BED / 1 BATH SFR2 – 1 BED / 1 BATH
BUILDING SF 2,876
LOT SF 22,557
YEAR BUILT 1947
ZONING EM1B
AGGREGATE INVESTMENT PARTNERS is pleased to present the opportunity to purchase this 5 units multifamily in the city of El Monte, California. 2532Bryce Road is located in a quiet residential area just south of Five Points neighborhood. The property is consisted of 3 stand-alone single-familyresidences (SFR) and 1 duplex on a huge lot, offering its tenants great privacy. Property sold “As-Is” in its present condition, Seller will not pay or make anyrepairs/replacements.
2532 Bryce Road has a total building size of ±2,876 square feet, sitting on a huge ±22,557 square foot lot. The property is comprised of 3 houses and 1duplex, offering a great unit mix of (2) 2 Bed / 1 Bath, and (3) 1 Bed / 1 Bath. There is a total of 8 parking spaces including a 2-car garage at the front of theproperty. Buyer to verify all information herein. Broker/Agent and Seller does not guarantee its accuracy.
The property is well-located near the intersection of Durfee Avenue and Elliott Avenue, with easy access to the 10, 60, and 605 freeways. Only 13 miles toDTLA, the property is also close to 99 Cents Only Stores, CVS, Marshalls, Maxson Elementary School, and Mountain View Park.
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PRICING SELLER FINANCING THE ASSET
Price $1,275,000 Down 45% $575,000 Units 5
Price/Unit $255,000 Loan 55% $700,000 Year Built 1947
Price/SF $443.32 Amort Years interest only Gross SF 2,876
GRM 16.92 13.45 Interest Rate 4.00% Lot SF 22,557
Cap 3.65% 5.17% Payments ($2,333) APN 8108-007-007
Current Market
MONTHLY RENT SCHEDULE
Unit # Type Est. SF Current $/SF Total Market $/SF Total
2532 2 Bed / 1 Bath SFR 800 $1,400 $1.75 $1,400 $1,900 $2.38 $1,900
2534 1 Bed / 1 Bath 440 $1,000 $2.27 $1,000 $1,350 $3.07 $1,350
2534 1/2 1 Bed / 1 Bath 440 $1,100 $2.50 $1,100 $1,350 $3.07 $1,350
2536 1 Bed / 1 Bath SFR 448 $1,180 $2.63 $1,180 $1,400 $3.13 $1,400
2538 2 Bed / 1 Bath SFR* 748 $1,600 $2.14 $1,600 $1,900 $2.54 $1,900
* Currently owner occupied - to be delivered vacant $6,280 $7,900
ANNUALIZED INCOME Current Market
Gross Potential Rent $75,360 $94,800
Less Vacancy 3% ($2,261) 3% ($2,844)
Other Income (Laundry) $1,200
Effective Gross Income $73,099 $93,156
ANNUALIZED EXPENSES Current Market
Property Tax 1.311110% $16,717 $16,717
Insurance $0.35 per SF $1,000 $1,000
Utilities $500 per Unit $2,500 $2,500
Repairs & Maintenance3% of EGI $2,200 $2,800
Landscaping Estimated $1,000 $1,000
Rubbish Estimated $3,200 $3,200
Total Expenses $26,617 $27,217
Expenses/Unit $5,323 $5,443
Expenses/SF $9.25 $9.46
% of EGI 36.41% 29.22%
RETURN Current Market
NOI $46,483 $65,939
Less Debt ($28,000) ($28,000)
DSCR 1.66 2.35
Cashflow $18,483 $37,939
Cash on Cash 3.21% 6.60%
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The property is well-located near the intersection of Durfee Avenue and Elliott Avenue, with easy
access to the 10, 60, and 605 freeways. Only 13 miles to DTLA, the property is also close to 99 Cents
Only Stores, CVS, Marshalls, Maxson Elementary School, and Mountain View Park.
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# EMPLOYERS EMPLOYEES
1 El Monte City School District 731
2 El Monte Union High School 623
3Mountain View Elementary School District
670
4 Longo Toyota-Lexus 475
5 City of El Monte 429
6 Driftwood Dairy 300
7 El Monte Adult School 300
8 San Gabriel Transit 300
9 M.C. Gill 250
The El Monte Planning Commission signed off on a project which would
replace a surface parking lot just north of the 10 Freeway with a hulking
mixed-use complex. The project, slated for a 3.58-acre site at 3333-3335
Santa Anita Avenue, is the signature component of the Gateway Specific Plan
which surrounds Metro's El Monte Station - the largest bust terminal west of
the Mississippi River. Its developer, Sherman Oaks-based Grapevine
Development, has proposed the construction of a 12-story, 157-foot-high
building containing:
• a 175-room hotel
• approximately 235,000 square feet of retail and office space
• a 37,000-square-foot gym; and
• parking for 1,104 vehicles.
Renderings of the proposed development, called "The Vine at The
Gateway," depict a boxy mid-rise structure featuring a three-level retail
concourse capped by a Marriott Residence Inn hotel. AO, formerly known as
Architects Orange, is designing the building, which would employ a mix of
materials including glass, metal panels, stone, aluminum, and wood.
Parking for the Vine is to be located on eight levels, including two below-
ground and six above-grade. The garage would be largely blocked from
view by decorative screens and habitable spaces placed along street
frontages. The City of El Monte has granted the project an exemption from
further review under the California Environmental Quality Act. A listing for
commercial space on the property lists the completion date for the Vine as
sometime in 2024.
Hollywood Community Housing Corporation celebrated the completion of
a new development serving homeless veterans and low-income families in
El Monte.
The Palo Verde Apartments, located at 4704 Peck Road, consists of a four-
story structure featuring 49 residential units with on-site supportive
services, including case management, substance abuse treatment,
educational classes, and linkages to mental and physical healthcare.
The $25.7-million project - designed by Shelter LLP and built by Alpha
Construction - will be operated in partnership with nonprofit service
providers Housing Works and New Direction for Veterans.
The project is seeking LEED Platinum Certification from the U.S. Green
Building Council, and incorporates features such as a solar hot water
system, photovoltaic panels, and recycled materials to that end.
On a 2.3-acre parcel next to the El Monte Bus Station, concrete and rebar are
now rising for a mixed-use development known as The Paseo at the
Gateway.
The project, which is being developed by Grapevine Advisors, will consist of
a four-story building on a featuring 208 market-rate apartments and 25,000
square feet of ground-floor retail space. Plans call for a mix of studio, one-,
and two-bedroom apartments - each of which will come with a stainless steel
appliance package and in-unit washer-dryer sets.
SVA Architects is designing the project, which will sit atop two levels of
parking - one of which will be located underground - and feature a podium-
level amenity deck. Wide sidewalks will wrap around the low-rise structure,
creating space for outdoor dining and seating. The project will also connect
to a nearby bike trail along the path of the Rio Hondo.
The Paseo is budgeted at approximately $99 million.
The project is the second phase of a 60-acre planned development to the
north of the El Monte Bus Station, which rises on the former El Monte city
yard. Construction is already complete for a 132-unit affordable apartment
building on an adjacent parcel.
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DEMOGRAPHIC DATA 1 Mi 3 Mi 5 Mi
Total Households 9,223 59,161 146,987
Total Population 37,290 232,730 545,247
Population White 11,080 86,089 194,899
Population Black 340 1,680 6,441
Population Hispanic 25,605 147,128 303,850
Population Asian 9,583 62,939 168,462
Population Pacific Islander 2 203 556
Population American Indian 250 1,279 2,573
Population Other 15,587 76,916 160,997
Persons Per Household 4 3.9 3.7
Average Household Income $51,782 $63,756 $68,984
Average House Value $461,582 $475,256 $490,246
Average Age 31.6 33.6 34.9
Average Age Male 30.6 32.6 33.5
Average Age Female 32.9 34.7 36.4
