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Listed by ARMANDO ARENAS • CENTURY 21 ALLSTARS
$2,999,999
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID MB-26235500
Year Built 1927
Property Sub-Type Mixed Use
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Exceptional opportunity to acquire a prominent 3-story commercial building featuring two established banquet ballrooms and seven income-producing storefront retail units, situated on a fully signalized corner in the heart of Montebello's thriving commercial district.
The centerpiece is the second-floor banquet and event operation, featuring two elegant vintage-style ballrooms with a combined capacity of 350 guests. The Grand Ballroom accommodates 250 guests, while the second ballroom accommodates 100, providing flexibility for events of varying sizes. Designed for full-service dinner events, the venue hosts weddings, quinceañeras, corporate functions, anniversaries and special celebrations. Amenities include a commercial kitchen, full-service bar with Type-47 liquor license, dressing rooms and house DJ equipment.
This well-established banquet business has operated for many years, developing a strong reputation and loyal clientele. Repeat business and referrals from satisfied past clients are significant drivers of the operation, providing a foundation for continued success and growth.
Seven leased ground-floor storefront retail units generate additional rental income, creating multiple revenue streams and an attractive opportunity for an owner-operator or investor.
CONVENIENT NEARBY PARKING: While the property has no on-site parking lot, the venue utilizes a nearby City public parking lot with approximately 46 spaces and an additional leased private parking lot with over 20 spaces. Both are located on 10th Street, just north of Whittier Boulevard, within easy walking distance. Parking is subject to availability and applicable lease arrangements.
The property's prominent corner location offers excellent visibility, strong street presence and convenient access throughout the San Gabriel Valley and Greater Los Angeles area.
A rare opportunity to acquire an established special-event destination complemented by income-producing commercial real estate, with potential for continued growth and long-term investment value.
IMPORTANT SALE TERMS: The Type-47 liquor license, furniture, fixtures and equipment (FF&E), business name and goodwill are offered separately through a bulk sale. Contact listing agent for pricing and details.
SELLER FINANCING AVAILABLE: Owner may carry a first trust deed with approximately 50% down payment, subject to seller approval of terms and buyer qualifications.
The centerpiece is the second-floor banquet and event operation, featuring two elegant vintage-style ballrooms with a combined capacity of 350 guests. The Grand Ballroom accommodates 250 guests, while the second ballroom accommodates 100, providing flexibility for events of varying sizes. Designed for full-service dinner events, the venue hosts weddings, quinceañeras, corporate functions, anniversaries and special celebrations. Amenities include a commercial kitchen, full-service bar with Type-47 liquor license, dressing rooms and house DJ equipment.
This well-established banquet business has operated for many years, developing a strong reputation and loyal clientele. Repeat business and referrals from satisfied past clients are significant drivers of the operation, providing a foundation for continued success and growth.
Seven leased ground-floor storefront retail units generate additional rental income, creating multiple revenue streams and an attractive opportunity for an owner-operator or investor.
CONVENIENT NEARBY PARKING: While the property has no on-site parking lot, the venue utilizes a nearby City public parking lot with approximately 46 spaces and an additional leased private parking lot with over 20 spaces. Both are located on 10th Street, just north of Whittier Boulevard, within easy walking distance. Parking is subject to availability and applicable lease arrangements.
The property's prominent corner location offers excellent visibility, strong street presence and convenient access throughout the San Gabriel Valley and Greater Los Angeles area.
A rare opportunity to acquire an established special-event destination complemented by income-producing commercial real estate, with potential for continued growth and long-term investment value.
IMPORTANT SALE TERMS: The Type-47 liquor license, furniture, fixtures and equipment (FF&E), business name and goodwill are offered separately through a bulk sale. Contact listing agent for pricing and details.
SELLER FINANCING AVAILABLE: Owner may carry a first trust deed with approximately 50% down payment, subject to seller approval of terms and buyer qualifications.
Location
State CA
County Los Angeles
Area 674 - Montebello
Zoning MNC2
Interior
Heating Central
Laundry Individual Room
Building
Lot Description Level with Street, Near Public Transit, Corner Lot
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John R Thompson
Broker/Owner License ID: 01200900
Broker/Owner License ID: 01200900