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12145 Wanda Street, El Monte, California 91732, El Monte, 91732 - bed, bath

12145 Wanda Street, El Monte, California 91732 home-pic-0
ACTIVE$920,000
12145 Wanda Street, El Monte, California 91732
0Bed
0Bath
1,932Sqft
6,132Lot
Year Built
1975
Close
-
List price
$920K
Original List price
$900K
Price/Sqft
$476
HOA
-
Days on market
-
Sold On
-
MLS number
TR25104722
Home ConditionFair
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 39% below the list price. We found 3 Cons,5 Pros. Rank: price - $920.0K(79th), sqft - 1932(64th), beds - undefined(3th), baths - undefined(3th).

Great location in North El Monte. Gated house located in a quite and safe community. Easy access to highway I-10 and I-605. Close to school, shopping centers and Asian supermarket. The single house was built in 1943 with 638 SQFT, owner started to make addition 1114 SQFT and complete renovation of the original one in 2006 with permits, replaced the roof and install laminated wood floor, installed gas pipe, double pane windows**** County accessor put 1975 as the Effective Year Built****Owner lives in 3 bedrooms and 2 baths with spacious living room, remodeled kitchen with big dining table. Tenants live in a 2 bedrooms, 1 bath with separate entrance and kitchen. (Please refer to the floor plan on the 28th picture) ******Kitchen was remodeled 6 years ago with new granite countertop and new cabinets, range hood.****Detached garage with 180 sqft permitted addition ( not included in the 1752 SQFT building) and laundry area has been converted to a bedroom with living room and bathroom for rental income. ******It's easy for the new owner to convert the house back to a 5 bedroom 3 baths single house with a 2 car detached garage***** Or live in the 3 bedroom main house and rent out the other 2 bedroom unit and the garage conversion unit for about $4000 monthly income.*****Assume 20% down, 6.5% 30 years rate fix, monthly payment $4,550.89, property tax $900 monthly, with 50% DTI (Debit to Income Ratio) , buyers need $10901.78 monthly income to be approved for loan; with $4000 monthly rental income, buyers need $8,101.78 monthly income only. ******Seller is willing to help to get the permits for the JADU and ADU before escrow closings if additional rental income required to be qualified for the mortgage loans.****You may buy it with your relatives or friends together since the house could be divided into 3 units with separate entries.

Condition Rating
Fair
The property underwent an extensive renovation in 2006, which is 18 years ago, placing it within the 'Fair' category's renovation timeline (15-30 years ago). While the kitchen was remodeled more recently (6 years ago) with modern features like granite countertops and new cabinets, the overall property's major systems and finishes from the 2006 renovation are showing their age. The laminated wood flooring, also from 2006, is functional but not new. The bathrooms are not explicitly stated to have been recently updated. The property appears well-maintained and move-in ready, but the age of the primary renovation suggests some components may be outdated or nearing the end of their expected lifespan, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Income Potential: The property offers significant rental income potential, with existing separate units (2-bedroom unit and garage conversion) estimated to generate $4000 monthly, and the seller's willingness to assist with JADU/ADU permits.
Recent Renovations & Upgrades: The property underwent a complete renovation in 2006 with permits, including a replaced roof, new flooring, gas pipe installation, and double-pane windows. The kitchen was also remodeled 6 years ago with new granite countertops and cabinets.
Flexible Living Arrangements: The layout allows for versatile use, either as a large 5-bedroom, 3-bath single-family home or as multiple independent units with separate entrances, catering to multi-generational living or owner-occupancy with rental income.
Desirable Location & Accessibility: Situated in a 'Great location in North El Monte,' a quiet and safe community with easy access to major highways (I-10 and I-605), schools, shopping centers, and an Asian supermarket.
Enhanced Security: The property is a gated house, providing an added layer of security and privacy for residents.

Cons

Significant Overpricing: The listing price of $920,000 is substantially higher than the estimated property value of $561,012, indicating a potential overvaluation of approximately 39% which could impact appraisal and buyer interest.
Complex Construction History: Originally built in 1943, the property underwent significant additions and renovations in 2006, with the county assessor listing 1975 as the 'Effective Year Built.' This multi-stage construction history might raise questions about consistency and long-term maintenance.
Unsecured Rental Unit Permits: While offering rental units, the description implies that formal JADU/ADU permits for these units are not yet secured, with the seller only 'willing to help to get the permits before escrow closings,' posing a potential hurdle for legality and financing.

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