Located at 1239 Beach St, this 12-unit apartment complex is a prime investment opportunity for those seeking a well-maintained property with significant upside potential. Priced at $2,800,000, the property is competitively valued at just $233,000 per door, offering an attractive entry point for savvy investors.
This 9,194-square-foot complex, situated on a 12,746-square-foot lot, features 24 bedrooms and 12 bathrooms. Most tenants are on month-to-month leases, providing flexibility for immediate value-add strategies. Built in 1972, the property has undergone extensive updates, making it an excellent turnkey investment. Recent improvements include brand-new entry doors for each unit, a freshly painted exterior, tree trimming, upgraded electrical panels, and replaced outdoor lighting. The balconies have been resurfaced, and the roof received maintenance last winter, with no further work recommended by the roofer.
Located in a highly walkable area (Walk Score: 84) and within the desirable Montebello Unified School District, the property is perfectly positioned for future growth in value and rental income. Additionally, the owner may be open to negotiating further upgrades, enhancing its appeal as a long-term investment. Don’t miss the opportunity to own this well-maintained, high-potential property in a thriving market. Schedule your viewing today!