Just Closed | 3939 Maxson, El Monte, CA
Riverstone Apartment Homes at 3939 Maxson, El Monte, has closed for $10,825,000. The 45-unit property was sold to a long-term holder with plans to renovate the property.
El Monte is an emerging market in San Gabriel Valley, conveniently loated just north of the I-10 freeway and west of the I-605 freeway. The property consists of six, 2-story garden-style appartments comprising 40,183 square feet. Offering a favorable unit mix of 8 one-bedroom/one-bathroom, 22 two-bedroom/one-bathroom, and 15 three-bedroom/two-bathroom units, the investment offers significant immediate upside.
“El Monte’s central location and access to easy transportation makes this property especially attractive,” says Broker-Associate Sevak Amranyan.
Partner David Leibowitz and Associate Sevak Amranyan of IREA (Investment Real Estate Associates) represented both the Seller, 3939 Maxson LLC, and the Buyer, BAG Investments, Inc.
