233 N 7th St, Montebello, CA 90640 – 24-433013 - Norma Mardelli

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$2,388,000

Est. payment - /mo

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16 BD

10 BA

5,408 SqFt

Active

233 N 7th St Montebello, CA 90640

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

10/04/2024 11:17 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,408 sqft

Price per Sqft $441

MLS Listing ID 24-433013

Bedrooms 16

Year Built 1960

Lot Size 7,819 Sqft

Acres 0.1796

Property Description

We are pleased to present for sale, 6 Deluxe units in a highly desirable North Montebello location, consisting of spacious 2 and 3 bedroom units, ALL OCCUPIED UNITS. Situated just North of Whittier Blvd, this investment opportunity yields excellent cash flow with a 6.11% Cap Rate and 11.15 GRM on scheduled rents. The building has a desirable unit mix of (Four) 3 bed + 1.75 bath and (Two) 2 bed + 1 bath units. With many recent capital improvements, some units have been renovated with new paint, windows, floors, shower, vanity and more. Tenants enjoy the convenience of on-site laundry and covered parking. The upper level units have vaulted ceilings. This property is a short distance to many shops and restaurants on Whittier Blvd. Buyer has the option to Assume the Current CHASE Loan ($925,000) at 3.41% Interest Rate Fixed until 12/2025. Property is subject to the statewide AB1482 rent ordinance, with no local rent control.

Location

State CA

County Los Angeles

Area Montebello

Zoning MNR3YY

Rooms

Other Rooms None

Interior

Heating Other

Cooling Wall Unit(s), Other

Equipment Garbage Disposal, Range/Oven, Cable

Laundry Other

Exterior

Parking Features Covered Parking

Garage Spaces 6.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Remax Commercial and Investment Realty