233 N 7th St - Apartments FOR SALE


Montebello, CA 90640
$2,145,000 USD
310-968-6049
233 N 7th St, Montebello, CA for Sale
$2,145,000 USD
Apartments - FOR SALE
1/28
null | 6.84% Cap Rate

233 N 7th St
Montebello, CA 90640


HIGHLIGHTS

  • 6 Deluxe units in a highly desirable North Montebello location, consisting of spacious 2 and 3 bedroom units
  • This investment opportunity yields excellent cash flow with a 6.84% Cap Rate and 10.16 GRM on current rents
  • Situated just North of Whittier Blvd | (Four) 3 bed + 1.75 bath and (Two) 2 bed + 1 bath units | 100% Occupied
  • Tenants enjoy the convenience of on-site laundry and covered parking | The upper level units have vaulted ceilings
  • Buyer has the option to Assume the Current CHASE Loan ($916,000) at 3.41% Interest Rate Fixed until 12/2025 | OR Obtain Conventional Financing
  • This property is a short distance to many shops and restaurants on Whittier Blvd | Bring your Exchange Buyers, Great Upleg-Purchase

OVERVIEW

*$243,000 PRICE IMPROVEMENT* Presenting, 6 Deluxe units in a highly desirable North Montebello location, consisting of spacious 2 and 3 bedroom units, ALL OCCUPIED UNITS. Bring your Exchange Buyers, this is a great exchange upleg-purchase! Situated just North of Whittier Blvd, this investment opportunity yields excellent cash flow with a 6.84% Cap Rate and 10.16 GRM on current 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 (check out the interior photos!). Tenants enjoy the convenience of on-site laundry and covered parking. The upper level units have vaulted ceilings. This property is within a short distance to many shops and restaurants on Whittier Blvd. Buyer has the option to Assume the Current CHASE Loan ($916,000) at 3.41% Interest Rate Fixed until 12/2025 or obtain conventional financing. Property is subject to the statewide AB1482 rent ordinance (Currently 8.9%), with no local rent control. Located on North 7th Street, between W Madison Ave and W Cleveland Ave. The major corridors of W Beverly Blvd and W Whittier Blvd crossing N Montebello Blvd. Please DO NOT WALK on property, do not pull into the driveway, only drive by, do not disturb tenants, they are not aware of sale, there will be NO SHOWINGS, access to property is offer subject to inspection. For a marketing package, please send an email (or a text) to the office.

FOR SALE DETAILS

PRICE

$2,145,000 USD

PRICE/SF

$397 USD /SF

# OF UNITS

6

PRICE/UNIT

$357,500

CAP RATE

6.84%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6 UNITS | MONTEBELLO | 6.84% CAP | 10.16 GRM

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,819 SF

ZONING

MNR3YY

APN/PARCEL ID

6346-012-022

ASK ABOUT THIS PROPERTY

Shant SherbetdjianRE/MAX Commercial & Investment RealtyMore Info
310-968-6049

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Shant SherbetdjianRE/MAX Commercial & Investment RealtyMore Info
310-968-6049

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.