248 N 1st Street, La Puente, California 91744, La Puente, 91744 - bed, bath

248 N 1st Street, La Puente, California 91744 home-pic-0
ACTIVE$3,595,000
248 N 1st Street, La Puente, California 91744
0Bed
0Bath
5,524Sqft
7,491Lot
Year Built
2024
Close
-
List price
$3.6M
Original List price
$3.85M
Price/Sqft
$651
HOA
-
Days on market
-
Sold On
-
MLS number
RS25068587
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros.

New 2024 Construction – Turnkey 19-Unit Fully Occupied Multifamily Asset in the Heart of Growing Downtown La Puente Welcome to a rare opportunity to own a brand-new 2024-built multifamily property consisting of 19 modern units, now 100% occupied and generating immediate income. Perfectly suited for investors looking for strong, stabilized cash flow, or organizations seeking high-quality housing solutions for city or non-profit programs, this property offers exceptional long-term potential. Strategically located in the heart of Downtown La Puente, this asset is positioned behind City Hall, across from La Puente High School, and steps away from a new condominium development, highlighting the area’s rapid transformation and rising demand. Each unit is designed with modern finishes and functional layouts, appealing to long-term tenants. The building features in-house laundry facilities, offering added convenience for residents and an additional source of revenue. Additional amenities include on-site parking, a highly desirable feature in this urban setting. With a layout ideal for both market-rate renters and affordable housing programs, the property is well-suited for partnerships with local municipalities, housing authorities, or non-profit organizations. With no deferred maintenance, full occupancy, and brand-new construction, this asset is a truly turnkey investment that’s ready to perform from day one. Whether you plan to lease at market rates or through a housing assistance program, this building is positioned to be a cash-flowing powerhouse. Don’t miss this rare opportunity to own a fully leased, new construction apartment building in a high-growth area of the San Gabriel Valley.

Price History

Date
Event
Price
08/02/25
$3,595,000
04/14/25
$3,849,000
Condition Rating
Excellent

The property is new construction (2024). The images show modern kitchens and bathrooms with new appliances and fixtures. The overall condition appears to be excellent, with no deferred maintenance.
Pros & Cons

Pros

New Construction: The property is a brand-new construction (2024), minimizing immediate maintenance concerns and potentially attracting higher-quality tenants.
Full Occupancy: The building is 100% occupied, providing immediate and stabilized cash flow for investors.
Prime Location: Located in the heart of Downtown La Puente, near City Hall and La Puente High School, offering convenient access to amenities and services.
Turnkey Investment: The property requires no deferred maintenance and is ready to perform from day one, making it a hassle-free investment.
Modern Units: Each unit features modern finishes and functional layouts, appealing to a wide range of tenants.

Cons

Price Reduction: The property has experienced a price reduction, which may indicate challenges in attracting buyers at the original price point.
Mixed Use: Mixed Use property might require specific expertise in managing both residential and commercial aspects, potentially limiting the pool of interested investors.
Lot Size: The lot size is relatively small compared to the building size, which might limit outdoor space or future expansion possibilities.

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