1239 Beach StMontebello, CA 90640

  • Residential income properties
  • 9,194 SF
For Sale
$2,800,000 View listing

Property Details for 1239 Beach St

Year built
1972
Construction
WOOD
Lot size
0.29 AC
Property size (Sq ft)
9,194 SF
Zone code
MNR3*
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
6353-011-027
APU
6353011027

Description

This exceptional 12-unit apartment complex, located at 1239 Beach Street in Montebello, California, presents a compelling investment opportunity. Priced at $2,800,000, this property offers a competitive price per unit of $233,000, representing a strong entry point for investors seeking significant upside potential. The complex encompasses 9,194 square feet on a 0.29-acre lot (12,746 square feet) and features 24 bedrooms and 12 bathrooms. Built in 1972, the well-maintained building benefits from a majority of month-to-month tenants, allowing for immediate value-add strategies. The seller is open to negotiating certain upgrades, further enhancing the potential for increased returns. Situated in a highly walkable area with a Walk Score of 84, and within the desirable Montebello Unified School District, this property is ideally positioned for long-term growth in both value and rental income. The property's strong location and flexible tenancy make it an attractive investment for those seeking a multifamily asset with immediate upside potential and the possibility of further enhancement through strategic renovations. This is a rare opportunity to acquire a well-maintained, income-producing property in a thriving location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,275,227
    6.5%
    $3,023,286
    7%
    $2,807,337
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,709,913
    Geo Method
    $2,709,913
  • Alternative Use

    Use
    Valuation
    Residential
    $3,023,286
    Hospitality
    $2,769,314
    Educational
    $2,304,037
    Medical
    $2,383,276
    Retail
    $3,584,057
1239 Beach St, Montebello, California

Location Insight

City
Montebello
County
Los Angeles
State
California
Latitude
34.0001
Longitude
-118.12
CBSA code
31080
CBSA name
LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$7,536
$37,460
$312,459
$349,919
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-
-
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