MULTIFAMILY PROPERTY IN EL MONTE, CALIF. SOLD FOR $12.4 MILLION

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El Monte, Calif. (January 12, 2022) — Coldwell Banker Commercial represented the buyer in the acquisition of The Flamingo Garden, a multifamily property located at 3711 Cogswell Rd. in El Monte, Calif. as part of a 1031 exchange. The property sold for $12.4 million.

Abu Majumder, executive vice president of Coldwell Banker Commercial JM Properties, represented the buyer in the transaction.

Situated in the San Gabriel Valley and east of Los Angeles, the three-story, 58-unit complex was built in 1987 and all units are each comprised of one-bedroom and one-bath. The property’s target tenant demographic are senior citizens.

“Multifamily properties in the Greater Los Angeles area, such as The Flamingo Garden, and southern California, continue to see increased investment activity and potential buyers’ overall confidence in their return on investment,” said Majumder. 

About Coldwell Banker Commercial Affiliates

Coldwell Banker Commercial JM Properties is the local affiliate of Coldwell Banker Commercial® and provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition, and disposition of all property types. Since 1906, the Coldwell Banker Commercial brand has been a premier provider of real estate, recognized globally as a company that puts the client first while delivering individual, distinctly different service. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com

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