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$ 2,150,000
Est. payment | /mo
7,559 SqFt
$ 2,150,000
Est. payment | /mo
7,559 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 7,559 sqft
Price per Sqft $284
MLS Listing ID CL26748163
HOA Y/N No
Year Built 1947
Lot Size 0.332 Acres
Acres 0.3317
Property Sub-Type Other
Property Description
We are pleased to present for the first time on the market in over 50 years, this exceptional multi-family property represents a rare generational asset opportunity in the highly desirable North Montebello submarket. Widely considered a trophy investment, the property features spacious 2-bedroom, 1-bathroom units averaging nearly 900 square feet each, offering an ideal layout that appeals to a broad tenant base. Each unit is equipped with garage parking, laundry hookups, and private rear entrances, enhancing both functionality and tenant privacy. The property has also seen key infrastructure improvements, including an updated main electrical panel, and offers strong potential for the addition of multiple ADUs (buyer to verify), creating a compelling path for future income growth. From an investment perspective, the asset presents significant value-add potential, with projected rental upside of approximately 75%, allowing investors to strategically renovate and reposition the property to capture higher market rents. Its walkable location provides convenient access to retail and dining along Beverly Blvd, further boosting tenant demand and long-term desirability. Additionally, the property benefits from minimal rent control constraints, as it is subject only to California's AB 1482 ordinance and not governed by any local rent control, offering greater operational flexibility. Altogether, this is a rare opportunity to acquire a well-located, underutilized asset with substantial upside in one of Montebello's most sought-after neighborhoods.
Location
State CA
County Los Angeles
Zoning MNR3YY
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 6346006004
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Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty
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Patrick Nagel
REALTOR® | Lic# 1760790