1239 Beach StMontebello, CA 90640
- Residential income properties
- 9,194 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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