Montebello, CA 90640,862 W Mines Avenue
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Montebello, CA 90640,862 W Mines Avenue
Montebello, CA 90640,862 W Mines Avenue
Montebello, CA 90640,862 W Mines Avenue
Montebello, CA 90640,862 W Mines Avenue
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$ 5,600,000
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862 W Mines Avenue Montebello, CA 90640

19,013 SqFt


UPDATED:

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.

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


Bridge MLS
Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty
agent

Sandra Lucas

Broker Associate | License ID: 01496944

+1(925) 464-8400

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862 W Mines Avenue