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$ 2,638,000
Est. payment /mo
Active
500 S 6th Street Montebello, CA 90640
10,556 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,556 sqft
Price per Sqft $249
MLS Listing ID CL26698721
HOA Y/N No
Year Built 1962
Lot Size 0.377 Acres
Acres 0.3769
Property Sub-Type Other
Property Description
PRICE REDUCED $262,000 ! We are pleased to present for sale Property 4 of 6 within a newly launched 47-unit multifamily portfolio. This well-positioned multifamily asset features 11 spacious two-story, townhome-style units, each offering 2 bedrooms and 1.5 bathrooms, an attractive layout that continues to appeal to long-term tenants. Situated on a prominent corner location, the property benefits from strong street presence and visibility, and it is being offered for the first time in 13 years, presenting a rare opportunity in a tightly held submarket. Currently bringing in 5.93% Cap Rate and 11.10 GRM on Current Rents. The all-electric building sits on a large 16,417 square foot lot, providing operational efficiency along with long-term upside potential. With solid in-place income and approximately 39% rental upside, investors have a clear value-add opportunity through strategic rent increases. Additional features include on-site parking, secured entry, private outdoor spaces in select units, and an on-site laundry facility readily available to add machines and generate supplemental income. The property also offers convenient access to the 60, 605, 710, and 5 freeways, enhancing its appeal to commuters. Subject only to AB 1482 and not local rent control, this asset provides a favorable regulatory environment, making it a strong opportunity to acquire a stable, income-producing property with meaningful upside. As part of a six-property, 47-unit portfolio, investors also have the flexibility to purchase individually or as part of a larger investment strategy. Properties do not have to be sold together. ** Check out the property video link.
Location
State CA
County Los Angeles
Zoning MNR3YY
Interior
Fireplace No
Laundry See Remarks
Building
New Construction No
Others
Tax ID 6349022045
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Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty