Description

We are excited to offer 5030 Farago Avenue, a four-unit multifamily investment located in Temple City, within proximity to El Monte and North El Monte. Built in 1954, the property features one 3-bedroom/1-bathroom front unit, followed by a 3-bedroom/2.5-bathroom unit that includes a bonus room/office, and rounded out with two 2-bedroom/2-bathroom units at the rear of the property. Sitting on a massive 15,762 square foot lot, the 3,963 square foot building is subject to the California Tenant Protection Act (AB 1482), allowing for rent increases of 5% plus CPI annually. Two of the units are substantially below market rates, allowing investors the opportunity to capture upside. The remodeled 3-bedroom/2.5-bathroom unit is roughly 1,600 square feet and will be delivered vacant, allowing for potential owner-user opportunities or the ability to lease the unit at market rate It has washer/dryer hook-ups inside the unit and includes a side and back yard. Each apartment is equipped with individual water heaters while one unit has central HVAC. All units have private yards, but only three have artificial grass installed. Utilities are conveniently separately metered for gas and electricity. There are three private 2-car garages, one private 1-car garage and additional space for on-site parking.