233 N 7th St Save Request In-Person Tour Request Virtual Tour
Montebello,CA 90640
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,408 sqft
Price per Sqft $396
MLS Listing ID 24-433013
Bedrooms 16
Year Built 1960
Lot Size 7,819 Sqft
Acres 0.1796
Property Sub-Type Multi-Family
Property Description
*$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.
Location
State CA
County Los Angeles
Area Montebello
Zoning MNR3YY
Rooms
Other Rooms None
Interior
Heating Other
Cooling Wall Unit(s), Other
Equipment Garbage Disposal, Range/Oven, Cable
Laundry Other
Exterior
Parking Features Covered Parking
Garage Spaces 6.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard