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862 W Mines Ave, Montebello, CA 90640

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For Sale

$5,600,000

48 beds19,013 sqft

Estimated Payment

$      /mo.

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $294.54
    Price per square foot

  • 31-40 Years Old
    Age

Explore this Property

$550,000 PRICE REDUCTION - 5.68% CAP RATE AND 11.02 GRM ON CURRENT RENTS. We are pleased to present a fantastic opportunity in Montebello, 16 Spacious Units built in 1988 consisting of Spacious 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments, averaging approximately 1,188 square feet each. This property is fully occupied and yields a 5.68% Cap Rate and 11.02 GRM on current rents. All units have central A/C & Heat, 2-Garage parking and private patios. This pride of ownership property has undergone many recent capital improvements such as; a new roof (in 2018), full copper plumbing (in 2019), and 11 of the 16 A/C Units were replaced (in the last 3 years). The property also has separate water heaters and is separately metered for gas and electricity. This complex is comprised of eight extra large duplexes on a 28,868 square foot lot zoned MNR3YY. Situated on West Mines Avenue between Greenwood Avenue and South Montebello Boulevard. This property is only subject to the statewide AB1482 rent ordinance (with no local rent control). Units are tenant occupied, interior photos provided.
MLS# 25521395

Courtesy Of RE/MAX Commercial & Investment

(213) 817-1000

Property Features

  • Age
    31-40 Years Old
  • Architecture Style
    Other
  • Lot Size
    0.66 Acres

Map and Directions

Directions to 862 W Mines Ave, Montebello, CA 90640
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Home seller CENTURY 21 Realty Masters

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CENTURY 21 Realty Masters

(562) 677-1800
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