2620 Tyler Avenue, El Monte, California 91733

$3,980,000

Property Type

Land

City

El Monte

Status

Active

DEVELOPER'S DREAM!! RARE OPPORTUNITY to acquire a flat rectangular 1.07 Acres of R3 zoned property with 205 feet of combined street frontage in prime centralized location in the City of El Monte. Currently there are some income producing multi-residential properties on the land and an on-site parking area. Value is mainly in the land and its redevelopment potential. Occupied units are on a month-to-month term to facilitate quick termination for investor's development plans. The property is comprised of three individual parcels with separate addresses which are to be sold together. APN: 8105013015 consists of 2620 Tyler Ave (2BR+1BA) and 2622 Tyler Ave (3BR+1BA). APN: 8105013016 consists of 2630 Tyler Ave (3BR+1BA) and 2630-1/2 Tyler Ave (1BR+1BA). APN: 8105013017 consists of 2634 Tyler Ave (2BR+1BA) and 2634-1/2 Tyler Ave (3BR+1BA). Property is located within blocks from El Monte High School, elementary schools, El Monte Community Center, El Monte Aquatics Center, County Library, local parks, markets, restaurants, and access to the freeway. Value is mainly in the land of the combined parcels which has the potential to be developed into 15 units (PUDs or Townhouses or Condos). Medium Density R3 Zone allows for 10-14 units per acre. Buyer(s) to independently verify all information with appropriate professionals and authorities including but not limited to the number of units, number of bedroom & bathroom counts, and intended uses and/or development requirements. In recent years, there are many new/newer development communities nearby (within approx. 1 mi radius) including the Solstice 70 Community at SEC of Tyler Av & Garvey Av., Clementine Community (40 units) on Santa Anita Av. just south of Garvey Av, KB Home Belcourt Place (82 SFR units); KB Home Jade (87 Townhome units), and Brookhaven by Century Communities (61 Townhomes almost sold out). Property to be sold "as is" in their present physical condition.