405 6Th StMontebello, CA 90640

Property Details for 405 6Th St

Year built

1975

Property size (Sq ft)

3,630 SF

Property type

Apartment buildings

Description

Exceptional 4-unit apartment building in Montebello, CA, presents a compelling investment opportunity. This Class A property, built in 1975, boasts 3,630 square feet and features four 2-bedroom, 1-bathroom units, each with separate gas and electric meters, minimizing landlord expenses. Currently operating at 100% occupancy, the property generates a strong NOI of $80,244, representing a 5.35% cap rate. Pro-forma NOI is projected at $89,000, increasing the cap rate to 5.94%. The asking price is $1,499,000, or $374,750 per unit, and $412.95 per square foot. On-site laundry provides additional income streams. The property includes five parking spaces and sits on a two-story building. Located at 405 S 6th St, Montebello, CA 90640 (APN: 6349021015), this property offers significant potential for future growth, including the possibility of adding two additional dwelling units (ADUs) to further enhance income. The property is in excellent condition, both structurally and in terms of unit upkeep. This is an ideal investment for those seeking a stable, high-performing asset in a thriving Los Angeles County community.

Location Insight

City

Montebello

County

Los Angeles

State

California

Latitude

34.0045

Longitude

-118.109

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