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$ 2,145,000
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Active
233 N 7th Street Montebello, CA 90640
5,408 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,408 sqft
Price per Sqft $396
MLS Listing ID CL24433013
HOA Y/N No
Year Built 1960
Lot Size 7,819 Sqft
Acres 0.18
Property Sub-Type Other
Property Description
*$243,000 PRICE IMPROVEMENT* Presenting, 6 Deluxe units in a highly desirable North Montebello location, consisting of spacious 2 and 3 bedroom units, ALL OCCUPIED UNITS. Bring your Exchange Buyers, this is a great exchange upleg-purchase! Situated just North of Whittier Blvd, this investment opportunity yields excellent cash flow with a 6.84% Cap Rate and 10.16 GRM on current 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 (check out the interior photos!). Tenants enjoy the convenience of on-site laundry and covered parking. The upper level units have vaulted ceilings. This property is within a short distance to many shops and restaurants on Whittier Blvd. Buyer has the option to Assume the Current CHASE Loan ($916,000) at 3.41% Interest Rate Fixed until 12/2025 or obtain conventional financing. Property is subject to the statewide AB1482 rent ordinance (Currently 8.9%), with no local rent control.
Location
State CA
County Los Angeles
Zoning MNR3
Interior
Fireplace No
Laundry See Remarks
Building
New Construction No
Others
Tax ID 6346012022
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Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty