Repositioned 12-Unit Condo Portfolio Generates Strong Returns
El Monte is an increasingly attractive market for multifamily investors, offering stable rental demand and excellent value-add opportunities. This case study highlights a successful sale of a 12-unit condominium portfolio at 2826 Cogswell Rd, El Monte, CA 91732, where strategic renovations and expert brokerage secured a $3,400,000 transaction for the seller.
El Monte Multifamily Investment: Transaction Overview
- Property Address: 2826 Cogswell Rd, El Monte, CA 91732
- Location: Prime El Monte rental market in Los Angeles County
- Property Type: 12-unit condominium portfolio
- Unit Breakdown:
- 10 units: 2-bed/1.5-bath, each with a 2-car garage
- 2 units: 3-bed/1.5-bath, each with a 2-car garage
- Sale Price: $3,400,000
- Seller’s Strategy: Purchased from the original developer, fully renovated, and repositioned for increased rental income
- Buyer Profile: New investor attracted by strong cash flow and long-term appreciation potential
- Broker Representation: James Torres represented both Buyer and Seller in this off-market transaction
Maximizing Property Value Through Strategic Repositioning
The seller initially acquired this multifamily asset from the original developer and implemented a comprehensive value-add strategy to enhance its appeal and cash flow. Renovations included:
- Unit Upgrades: New laminate flooring, kitchen cabinets, granite countertops, and modernized bathrooms.
- Exterior Enhancements: Fresh paint, new windows, and garage door replacements.
- Operational Efficiency: Tenants responsible for electricity and gas, while ownership covered water and trash, ensuring predictable operating expenses.
- Increased Rents: Post-renovation rental rates were significantly higher, boosting net operating income and overall valuation.
Navigating the Competitive El Monte Multifamily Market
- Finding the Right Buyer for a Condo Portfolio
El Monte’s multifamily market is competitive, particularly for turnkey rental properties. By leveraging an aggressive marketing strategy, James Torres sourced a well-qualified investor who recognized the long-term potential of this stabilized asset.
- Balancing Seller Goals with Investor Appeal
The seller sought to maximize returns after years of strategic property improvements, while the buyer was looking for an income-generating, low-maintenance investment. Through expert negotiation, we structured a deal that met both parties’ objectives, resulting in a smooth and profitable transaction.
- Off-Market Transaction with Dual Representation
Representing both the seller and buyer, James Torres facilitated a seamless sale, ensuring both sides had the necessary insights to close quickly. The deal structure allowed for an efficient process without extended market exposure.
Investment Takeaways: Why This Deal Stood Out
For the Buyer:
- Turnkey multifamily asset with strong cash flow
- Renovated units offering long-term appreciation potential
- El Monte’s stable rental market ensuring occupancy demand
For the Seller:
- Successful asset repositioning strategy yielding strong ROI
- Fast and efficient sale at a premium valuation
- Exit strategy executed with an experienced multifamily broker
Partner with an Experienced Los Angeles Multifamily Broker
This sale demonstrates how strategic property improvements and expert brokerage can drive value in the El Monte multifamily market. If you’re looking to buy or sell an apartment building in Los Angeles County, work with a trusted advisor who understands how to maximize investment potential.
For expert guidance on El Monte multifamily investments, contact James Torres at (562) 419-3515.
