2516-2524 Beverly BlvdMontebello, CA 90640

Property Details for 2516-2524 Beverly Blvd

Property size (Sq ft)

1 SF

Property type

Office properties

Property subtype

Other office properties

Description

This exceptional commercial property, located at 2516-2524 W Beverly Blvd, Montebello, CA 90640, presents a significant investment opportunity. The 22,500 square foot lot boasts a prime corner location at the intersection of Beverly Boulevard and Hay Street, offering high visibility and accessibility. Currently zoned for general commercial use, the property is vacant, facilitating a smooth transition to development. The site offers the potential to construct up to 81 residential units, including 40 one-bedroom/one-bath (600 sq ft each), 21 two-bedroom/two-bath (900 sq ft each), and 20 three-bedroom/two-bath (1100 sq ft each) units. Surface parking is proposed to reduce construction costs. A key feature is the inclusion of 40 units dedicated to low-income housing, potentially increasing allowable density. The property's strategic location provides easy access to major freeways (5, 10, and 110), public transportation, and nearby attractions such as the Montebello Country Club and Citadel Outlets. The asking price is $3,650,000, with a projected cap rate of 6.00%. This property offers a unique blend of development potential and strong location advantages within a vibrant community featuring a mix of residential, commercial, and recreational amenities. Three-way access further enhances its appeal. This is a Class C, traditional office building with a 100% vacancy rate. The square footage is between 1,000 and 10,000.

Location Insight

City

Montebello

County

Los Angeles

State

California

Latitude

34.0211

Longitude

-118.13

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