South El Monte is located in a strong market for 5+ unit multifamily loans. Multifamily loans in South El Monte are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in South El Monte are some of the lowest nationally. South El Monte apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in South El Monte.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in South El Monte are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.12% - 6.36% |
| 7 Year Fixed | 6.05% - 6.29% |
| 10 Year Fixed | 6.14% - 6.38% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in South El Monte.
The city of South El Monte in Los Angeles County has a population of 20,574. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median South El Monte resident is 34 years old with a yearly income of $22,567. The average family has 4.4 members and a median household income of $52,204. South El Monte has a 11% higher education rate. The unemployment rate in South El Monte is 5.8%.
49.2% of South El Monte households are renters.
41.7% median household income spent on rent.
Bedrooms |
Los Angeles County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,488 | $1,137 | $737 |
| 1 bedroom | $1,746 | $1,291 | $813 |
| 2 bedroom | $2,238 | $1,635 | $1,015 |
| 3 bedroom | $2,974 | $2,254 | $1,325 |
| 4 bedroom | $3,243 | $2,613 | $1,521 |
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