1504 W Beverly Blvd - Apartments FOR SALE


Montebello, CA 90640
$1,100,000 USD
310-968-6049
1504 W Beverly Blvd, Montebello, CA for Sale
$1,100,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

1504 W Beverly Blvd
Montebello, CA 90640


HIGHLIGHTS

  • Highly Desirable North Montebello Location (North of Beverly Blvd)
  • Desirable Unit Mix of Spacious (Two) 2 Bed + 1 Bath and (Three) 1 Bed + Bath Units
  • Family Owned and Operated Since 1982 | Under the Same Ownership for Over 40 Years!
  • All Units Have On-Site Covered Parking | Separate Water Heaters for Each Unit
  • Minimal Landlord Maintenance | Separately Metered for Gas & Electricity
  • Value-Add Opportunity with Realistic Rental Upside Potential of +/- 50%

OVERVIEW

**Price Reduced $140,000 | 13.06 GRM** Proudly offered for the first time in over 40 years, this plenty of value add opportunity for this 5-Unit property is located in the highly desirable North Montebello neighborhood, just north of Beverly Blvd. The property features an ideal unit mix of two spacious 2-bedroom, 1-bathroom units and three well-sized upper-level 1-bedroom, 1-bathroom units. The building has been family-owned and operated since 1982. All tenants benefit from on-site covered parking and enjoy living in a walkable area surrounded by shops, restaurants, and neighborhood amenities reflected in a strong Walk Score of 85. The property is subject only to California's statewide rent control under AB1482 (currently 8%) with no additional local rent control restrictions. This is a rare opportunity to acquire an asset in one of Montebello's most sought-after pockets. Please note, all 5 units are tenant occupied, do not disturb occupants, please do not walk on the property or engage with tenants regarding the property, they are not aware of sale, direct all questions to the listing agent. Interior videos available upon request. For more information and to obtain a full marketing package (including rent roll, income/expense breakdown), please either call/text/email the listing agent.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$307 USD /SF

# OF UNITS

5

PRICE/UNIT

$220,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Price Reduced $140K | 13.06 GRM | $220K/Unit

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,364 SF

ZONING

MNR3*

APN/PARCEL ID

5294-014-036

ASK ABOUT THIS PROPERTY

Shant SherbetdjianRE/MAX Commercial & Investment RealtyMore Info
310-968-6049

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Shant SherbetdjianRE/MAX Commercial & Investment RealtyMore Info
310-968-6049

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.