1239 Beach StMontebello, CA 90640

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

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.

• 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

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

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