6 UNITS | MONTEBELLO | 6.23% CAP & 10.99 GRM
6 Unit Apartment Building | $2,388,000 ($398,000/Unit) | 6.23% Cap Rate | Montebello, CA 90640
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,388,000
- Property Type
-
Multifamily
- Square Feet
- 5,408 SF
Listing Contacts
Shant Sherbetdjian
Verified Profile
- Property Info
Property Overview
We are pleased to present for sale, 6 Deluxe units in a highly desirable North Montebello location, consisting of spacious 2 and 3 bedroom units. Situated just North of Whittier Blvd, this investment opportunity yields excellent cash flow with a 6.23% Cap Rate and 10.99 GRM on scheduled rents. The building has a desirable unit mix of (Four) 3 bed + 1.75 bath and (Two) 2 bed + 1 bath units. With many recent capital improvements, some units have been renovated with new paint, windows, floors, shower, vanity and more. Tenants enjoy the convenience of on-site laundry and covered parking. The upper level units have vaulted ceilings. This property is a short distance to many shops and restaurants on Whittier Blvd. Buyer has the option to Assume the Current CHASE Loan ($925,000) at 3.41% Interest Rate Fixed until 12/2025. Property is subject to the statewide AB1482 rent ordinance, with no local rent control. Located on North 7th Street, between W Madison Ave and W Cleveland Ave. The major corridors of W Beverly Blvd and W Whittier Blvd crossing N Montebello Blvd. Please DO NOT WALK on property, drive by only, do not disturb tenants, they are not aware of sale, access to property is offer subject to inspection. For a marketing package, please send an email (or a text) to the office.
Property Details
- Class
- C
- Year Built
- 1960
- Stories
- 2
- Lot Size (sq. ft)
- 7,841 SF
- Units
- 6
Highlights
- 6 Deluxe units in a highly desirable North Montebello location, consisting of spacious 2 and 3 bedroom units
- This investment opportunity yields excellent cash flow with a 6.23% Cap Rate and 10.99 GRM on scheduled rents
- Situated just North of Whittier Blvd | (Four) 3 bed + 1.75 bath and (Two) 2 bed + 1 bath units
- Tenants enjoy the convenience of on-site laundry and covered parking | The upper level units have vaulted ceilings
- Buyer has the option to Assume the Current CHASE Loan ($925,000) at 3.41% Interest Rate Fixed until 12/2025
- This property is a short distance to many shops and restaurants on Whittier Blvd
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