29
See all 29 photos
$5,600,000
Est. payment /mo
19,013 SqFt
Active
862 W Mines Avenue Montebello, CA 90640
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 19,013 sqft
Price per Sqft $294
MLS Listing ID CL25521395
HOA Y/N No
Year Built 1988
Lot Size 0.663 Acres
Acres 0.66
Property Sub-Type Other
Property Description
$550,000 PRICE REDUCTION - 5.68% CAP RATE AND 11.02 GRM ON CURRENT RENTS. We are pleased to present a fantastic opportunity in Montebello, 16 Spacious Units built in 1988 consisting of Spacious 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments, averaging approximately 1,188 square feet each. This property is fully occupied and yields a 5.68% Cap Rate and 11.02 GRM on current rents. All units have central A/C & Heat, 2-Garage parking and private patios. This pride of ownership property has undergone many recent capital improvements such as; a new roof (in 2018), full copper plumbing (in 2019), and 11 of the 16 A/C Units were replaced (in the last 3 years). The property also has separate water heaters and is separately metered for gas and electricity. This complex is comprised of eight extra large duplexes on a 28,868 square foot lot zoned MNR3YY. Situated on West Mines Avenue between Greenwood Avenue and South Montebello Boulevard. This property is only subject to the statewide AB1482 rent ordinance (with no local rent control). Units are tenant occupied, interior photos provided.
Location
State CA
County Los Angeles
Zoning MNR3
Interior
Cooling Central Air
Fireplace No
Laundry No Hookups
Building
New Construction No
Others
Tax ID 6350022059
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Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty
A FEW WORDS FROM PAST CLIENTS
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Mike & Jules Guzzardo Team With Jenny Biczkow
Realtor | r01066846,01955798,02086289