$1,365,000
$1,395,000
2.2%For more information regarding the value of a property, please contact us for a free consultation.
0.34 Acres Lot
SOLD DATE : 11/05/2019
Key Details
Sold Price $1,365,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV19195193
Sold Date 11/05/19
HOA Y/N No
Year Built 1954
Lot Size 0.340 Acres
Acres 0.34
Property Description
We are pleased to exclusively offer for sale this 6 Unit multi-family investment property located in the city of Montebello. The subject property is comprised of two single story buildings, each containing 3 ground level units. With a courtyard setting, and tranquil feel, this investment offers tremendous upside opportunity for capital improvement. All six units are 1 Bedroom/1 Bathroom and offer tenants private fireplaces, private garage parking, an onsite laundry facility, and gated pool. The current owner has held the subject property for a number of years and has kept the rental rates well below market. Given its north Montebello location, unit size, and tenant amenities, a new investor can easily raise rental rates for a total of 37+% bringing the cash-on-cash return well above 5%.
Location
State CA
County Los Angeles
Area 674 - Montebello
Zoning MNR1YY
Rooms
Ensuite Laundry Common Area, Inside
Interior
Laundry Location Common Area,Inside
Heating Fireplace(s), Wall Furnace
Cooling Wall/Window Unit(s)
Fireplaces Type Den
Fireplace Yes
Laundry Common Area, Inside
Exterior
Garage Assigned, Garage
Garage Spaces 6.0
Garage Description 6.0
Pool Community, In Ground
Community Features Curbs, Gutter(s), Street Lights, Pool
Parking Type Assigned, Garage
Total Parking Spaces 6
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5294011024
Energy Description 110.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with KRISTOPHER GERMAN • RE/MAX 2000