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Listed by Kristopher German • RE/MAX 2000 REALTY
$1,972,500
Est. payment /mo
3,916 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,916 sqft
Price per Sqft $503
MLS Listing ID CV-26169898
Year Built 1949
Lot Size 0.346 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Exceptional opportunity to acquire a 9-unit multi-family community in the highly desirable city of Montebello. Offered at $1,972,500, less than $220,000 per unit, this offering represents and outstanding value in one of the San Gabriel Valley's most supply-constrained rental markets. The property delivers excellent day-one cash flow with a current 6.86% CAP Rate, 10.20 GRM, and a 5.75% cash-on-cash return, while offering additional upside through market rent alignment with projected financials of a 7.15% CAP Rate, 9.90 GRM, and 6.57% cash-on-cash return.
Situated on a 15,056 sq. ft. lot, the property features a desirable unit mix consisting of one 2-Bedroom/1-Bath unit and eight 1-Bedroom/1-Bath units, providing stable occupancy. Tenants pay for electricity and gas, while residents enjoy ample open-space parking and a spacious common area, enhancing the property's overall rental appeal.
Conveniently located just off Beverly Boulevard, the property is within close proximity to Beverly Hospital, shopping, dining, and major retail, placing it in one of Montebello's strongest rental corridors.
Additional opportunity: The adjoining 9-unit property (MLS #CV26169882)is also available for purchase, allowing investors the rare chance to acquire 18 units across two separate parcels. Whether purchased individually or as part of the larger portfolio, this offering combines strong in-place cash flow, attractive pricing, and meaningful upside, making it an outstanding investment opportunity in the Montebello multifamily market.
Situated on a 15,056 sq. ft. lot, the property features a desirable unit mix consisting of one 2-Bedroom/1-Bath unit and eight 1-Bedroom/1-Bath units, providing stable occupancy. Tenants pay for electricity and gas, while residents enjoy ample open-space parking and a spacious common area, enhancing the property's overall rental appeal.
Conveniently located just off Beverly Boulevard, the property is within close proximity to Beverly Hospital, shopping, dining, and major retail, placing it in one of Montebello's strongest rental corridors.
Additional opportunity: The adjoining 9-unit property (MLS #CV26169882)is also available for purchase, allowing investors the rare chance to acquire 18 units across two separate parcels. Whether purchased individually or as part of the larger portfolio, this offering combines strong in-place cash flow, attractive pricing, and meaningful upside, making it an outstanding investment opportunity in the Montebello multifamily market.
Location
State CA
County Los Angeles
Area 674 - Montebello
Zoning MNC2*
Interior
Fireplaces Type None
Laundry None
Exterior
Parking Features Asphalt
Pool None
Community Features Gutters, Sidewalks
Utilities Available Sewer Available, Water Available, Electricity Available, Natural Gas Available
View Y/N No
View None
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900