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$5,600,000
Est. payment /mo
48 Beds
32 Baths
19,013 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 19,013 sqft
Price per Sqft $294
MLS Listing ID 25521395
Bedrooms 48
HOA Y/N No
Year Built 1988
Lot Size 0.663 Acres
Property Description
$550,000 PRICE REDUCTION - 5.64% CAP RATE AND 11.07 GRM ON CURRENT RENTS. We are pleased to present a fantastic opportunity in Montebello, 16 Spacious Units built in 1988 consisting of Spacious 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments, averaging approximately 1,188 square feet each. This property is fully occupied and yields a 5.64% Cap Rate and 11.07 GRM on current rents. All units have central A/C & Heat, 2-Garage parking and private patios. This pride of ownership property has undergone many recent capital improvements such as; a new roof (in 2018), full copper plumbing (in 2019), and 11 of the 16 A/C Units were replaced (in the last 3 years). Additional income from on-site laundry room. The property also has separate water heaters and is separately metered for gas and electricity. This complex is comprised of eight extra large duplexes on a 28,868 square foot lot zoned MNR3YY. Situated on West Mines Avenue between Greenwood Avenue and South Montebello Boulevard. This property is only subject to the statewide AB1482 rent ordinance (with no local rent control).
Location
State CA
County Los Angeles
Area 674 - Montebello
Zoning MNR3YY
Interior
Cooling Central Air
Fireplace No
Laundry Laundry Room
Exterior
Parking Features Door-Multi, Garage
Total Parking Spaces 32
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 6350022059
Special Listing Condition Standard
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Listed by Shant Sherbetdjian Remax Commercial and Investment Realty