862-892 W Mines Ave - Apartments FOR SALE


Montebello, CA 90640
$6,150,000 USD
310-968-6049
862-892 W Mines Ave, Montebello, CA for Sale
$6,150,000 USD
Apartments - FOR SALE
1/20
null | 5.02% Cap Rate

862-892 W Mines Ave
Montebello, CA 90640


HIGHLIGHTS

  • 16 Spacious Unit built in 1988 with 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments | Averaging 1,188 square feet in each unit
  • Fantastic opportunity in Montebello | Prime investment at full occupancy 100% with a 5.02% Cap Rate on current rents
  • Many recent capital improvements where all units have central A/C & Heat, 2-Garage parking and private patios
  • Additional income from on-site laundry room | Separate water heaters for each unit and separately metered for gas and electricity
  • Outlined with eight extra large duplexes on a 28,868 square foot lot zoned MNR3YY | On West Mines Ave between Greenwood Ave and South Montebello Blvd
  • Only subject to the statewide AB1482 rent ordinance (with no local rent control) | Income flow for first time investor or exchange up-leg purchase

OVERVIEW

We are pleased to present a fantastic opportunity in Montebello, 16 Spacious Unit built in 1988 with 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments, and averaging 1,188 square feet in each unit. Prime investment at full occupancy 100% with a 5.02% Cap Rate 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. Separate water heaters for each unit and separately metered for gas and electricity. This complex is outlined with 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). Income flow for first time investor or exchange up-leg purchase. Situated on West Mines Avenue between Greenwood Avenue and South Montebello Boulevard. Minutes from the Pico Rivera Plaza off Whittier Blvd. Please do not walk on the property, do not disturb or engage tenants regarding the property. Drive by only, tenants are not aware of the sale, direct all questions to agent. For more information and to obtain a full marketing package (including rent roll, income/expense breakdown), please call/text/email. No showing appointments, all access is via offer subject to inspection. Please do not contact occupants, do not walk on property, drive by only.

FOR SALE DETAILS

PRICE

$6,150,000 USD

PRICE/SF

$323 USD /SF

# OF UNITS

16

PRICE/UNIT

$384,375

CAP RATE

5.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

16 Units Montebello 1988 Built 3BD+1.5BT Each

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.66 AC

LAND SF

28,868 SF

ZONING

MNR3YY

APN/PARCEL ID

6350-022-059

ASK ABOUT THIS PROPERTY

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

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

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

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