Property
Beds
48
Full Baths
None
1/2 Baths
None
Year Built
1988
Sq.Footage
19,013
$550,000 PRICE REDUCTION - 5.68% CAP RATE AND 11.02 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 5.68% Cap Rate and 11.02 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). 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). Units are tenant occupied, interior photos provided.
Features & Amenities
Interior
-
Total Bedrooms
48
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air
Exterior
-
Garage
No
-
Parking
Attached, Garage
-
Pool
No
Area & Lot
-
Lot Size(acres)
0.6627
-
Property Type
Residential Income
Price
-
Sales Price
$5,600,000
-
Sq. Footage
19, 013
-
Price/SqFt
$294
HOA
-
Association
NO
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
Senior Community YN
NO
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Shant Sherbetdjian , Remax Commercial and Investment Realty
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