Srinivas Yalamanchili Acquires Multifamily Palm Garden Apartments In El Monte For $9.15M
10310 Valley Boulevard
$9,150,000
$286/SF
Building Size
31,961 SF
Asset Type
MultiFamily
Closing
Jun 12, 2026
AI
The asset involved in the transaction is a multifamily property located at 10310 Valley Boulevard in El Monte. The sale price was $9,150,000 for a community that comprises 91 units, offering a price per unit of $100,549. The total square footage of the property is 31,961, resulting in a price per square foot of $286.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,150,000
- Units: 91
- Price per Unit: $100,549
- Square Footage: 31,961
- Price per Square Foot: $286
- Buyer: Srinivas Yalamanchili
- Seller: Frank W Cornell
- Buyer's Representative: Mark Reynolds - Ally Commercial Real Estate
- Seller's Representatives: Cameron Greco & Rick Ramirez - Ally Commercial Real Estate
Ally Commercial Real Estate represented both the Buyer and Seller in the transaction of the Palm Garden Apartments. They executed a strategic off-market process, ensuring a smooth transition where Positive Investments will maintain the property's long-standing commitment to affordable senior housing. The community has a history dating back to the 1960s when it was initially developed as a motel before its conversion.
Players
El Monte MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.73%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93