233 7Th StMontebello, CA 90640

Property Details for 233 7Th St

Year built

1960

Construction

WOOD

Lot size

0.18 AC

Property size (Sq ft)

5,408 SF

Zone code

MNR3YY

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

6346-012-022

APU

6346012022

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,926,520

  6.5%

  $1,778,326

  7%

  $1,651,303

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,593,997

  Geo Method

  $1,593,997

• Alternative Use

  Use

  Valuation

  Residential

  $1,778,326

  Hospitality

  $1,628,937

  Educational

  $1,355,257

  Medical

  $1,401,866

  Retail

  $2,108,177

Location Insight

City

Montebello

County

Los Angeles

State

California

Latitude

34.0129

Longitude

-118.106

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].