500 S 6th Street,Montebello, CA 90640
Montebello, CA 90640
Description
PRICE REDUCED $262,000 ! We are pleased to present for sale Property 4 of 6 within a newly launched 47-unit multifamily portfolio. This well-positioned multifamily asset features 11 spacious two-story, townhome-style units, each offering 2 bedrooms and 1.5 bathrooms, an attractive layout that continues to appeal to long-term tenants. Situated on a prominent corner location, the property benefits from strong street presence and visibility, and it is being offered for the first time in 13 years, presenting a rare opportunity in a tightly held submarket. Currently bringing in 5.93% Cap Rate and 11.10 GRM on Current Rents. The all-electric building sits on a large 16,417 square foot lot, providing operational efficiency along with long-term upside potential. With solid in-place income and approximately 39% rental upside, investors have a clear value-add opportunity through strategic rent increases. Additional features include on-site parking, secured entry, private outdoor spaces in select units, and an on-site laundry facility readily available to add machines and generate supplemental income. The property also offers convenient access to the 60, 605, 710, and 5 freeways, enhancing its appeal to commuters. Subject only to AB 1482 and not local rent control, this asset provides a favorable regulatory environment, making it a strong opportunity to acquire a stable, income-producing property with meaningful upside. As part of a six-property, 47-unit portfolio, investors also have the flexibility to purchase individually or as part of a larger investment strategy. Properties do not have to be sold together. ** Check out the property video link.
Details
| MLS # | 26698721 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1962 |
| Days On Site | 131 |
| Listing Provided By | Remax Commercial and Investment Realty | Shant Sherbetdjian |
Features
| Bed(s) | 22 |
|---|---|
| Bath(s) | 22 |
| SQ Feet | 10,556 |
| Car Port | Yes |
| Story(s) | 2 |
| Units | 11 |
| Building(s) | 1 |
| Zoning | MNR3YY |
| Acreage | 0.38 |
Parking
| Parking Features | Carport, Uncovered |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Montebello |
| Zip Code | 90640 |
| Area | 674 Montebello |
| Listing VS Median (in 90640) | |
Price: $2,638,000 low | high Med: $1,095,000 sqft: 10,556 low | high Med: 3,200 $ / sqft: $250 low | high Med: $360 On site: 131 low | high Med: 120.5 | |
Market Activity 90640
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Montebello |
| Zip Code | 90640 |
| Area | 674 Montebello |
| Listing VS Median (in 90640) | |
Price: $2,638,000 low | high Med: $1,095,000 sqft: 10,556 low | high Med: 3,200 $ / sqft: $250 low | high Med: $360 On site: 131 low | high Med: 120.5 | |
 | $2,850,000413 W WhittierMontebello, CA 90640 |