For Sale
$2,338,000

233 7Th StMontebello, CA 90640

6-Unit Multifamily, Excellent Cash Flow

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional six-unit apartment building presents a compelling investment opportunity in the desirable North Montebello area of Los Angeles County, California. Located at 233 N 7th St, Montebello, CA 90640, this property boasts a desirable unit mix, including four spacious three-bedroom, one-and-three-quarter-bathroom units and two two-bedroom, one-bathroom units. All units are currently occupied, generating a strong cash flow with a 6.11% cap rate and an 11.15 GRM on scheduled rents. The 5,408 square foot building sits on a 7,819 square foot lot and includes six parking spaces and on-site laundry facilities. Recent capital improvements have enhanced several units, featuring new paint, windows, flooring, showers, and vanities. Upper-level units feature vaulted ceilings. The property is conveniently located near Whittier Boulevard, offering easy access to numerous shops and restaurants. An assumable Chase loan of $925,000 is available at a fixed 3.41% interest rate until December 2025. The property is subject to the statewide AB1482 rent ordinance, but there is no local rent control. The asking price is $2,338,000, with a price per square foot of $432.32 and a net operating income (NOI) of $145,937. The building was constructed in 1960 and is zoned MNR3YY. This property offers a blend of strong financial performance and attractive features, making it an ideal addition to any investment portfolio.

Highlights

  • Highly desirable North Montebello location, north of Whittier Blvd.
  • Desirable unit mix: four 3-bed/1.75-bath and two 2-bed/1-bath units.
  • Excellent cash flow: 6.11% cap rate, 11.15 GRM.
  • Assumable Chase loan at 3.41% interest (fixed until December 2025), $925,000.
  • Select units recently renovated with new paint, windows, flooring, showers, and vanities.
  • Vaulted ceilings in upper units; on-site laundry.

Property Details for 233 7Th St

Property type
Apartment buildings
Square Feet
5,408 SF
Year Built
1960
Units
6

Location Insight

City
Montebello
County
Los Angeles
State
California
Latitude
34.012821546683
Longitude
-118.10622510045
233 7Th St, Montebello, California

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233 7Th St
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