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862-892 W Mines Ave
Montebello, CA 90640

$5,600,000 USD

Apartments For Sale • 19,013 SF

Property Details

Property Type Apartments
Total Building Size 19,013 SF
Lot Size 0.66 AC
Building Class C
Year Built 1988
Cap Rate 5.68 %
Zoning MNR3YY

0 Transit Score

67 Walk Score

                
                    Highlights
                
                                16 Spacious Unit built in 1988 with 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments | Averaging 1,188 square feet in each unit
                            
                                Fantastic opportunity in Montebello | Prime investment at full occupancy 100% with a 5.68% Cap Rate on current rents
                            
                                Many recent capital improvements where all units have central A/C & Heat, 2-Garage parking and private patios
                            
                                Additional income from on-site laundry room | Separate water heaters for each unit and separately metered for gas and electricity
                            
                                Outlined with eight extra large duplexes on a 28,868 square foot lot zoned MNR3YY | On West Mines Ave between Greenwood Ave and South Montebello Blvd
                            
                                Only subject to the statewide AB1482 rent ordinance (with no local rent control) | Income flow for first time investor or exchange up-leg purchase

Financial Summary (Actual)

Net Operating Income: $317,815 USD (2024)

Cap Rate:	5.68 %
Total Expenses:	$174,964 USD

Public Transportation

Commuter Rail	Drive	Walk	Distance
Montebello/Commerce (Riverside Line - Southern California Regional Rail Authority (Metrolink))	3 min	17 min	0.9 mi
Commerce (91 Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink))	7 min	-	3.0 mi
Airport	Drive	Walk	Distance
Long Beach (Daugherty Field)	28 min	-	18.3 mi
Los Angeles International	36 min	-	24.0 mi
Bob Hope	35 min	-	25.5 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	16
Type:	TwoCarGarage
Included in Rent:	Yes

Shant Sherbetdjian 310-968-6049 RE/MAX Commercial & Investment Realty

862-892 W Mines Ave Montebello, CA 90640