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$ 2,995,000
Est. payment | /mo
7,956 SqFt
$ 2,995,000
Est. payment | /mo
7,956 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,956 sqft
Price per Sqft $376
MLS Listing ID CL26868873
HOA Y/N No
Year Built 1962
Lot Size 10,519 Sqft
Acres 0.2415
Property Sub-Type Other
Property Description
Located in a highly desirable East Los Angeles neighborhood adjacent to Montebello, this well-maintained 12-unit apartment community offers an exceptional investment opportunity with a current 6.17% cap rate, making it an ideal choice for a 1031 exchange buyer. The property has benefited from approximately $320,000 in recent capital improvements, including the implementation of a Ratio Utility Billing System (RUBS) to enhance operating efficiency. The attractive unit mix consists of four 2-bedroom/1-bath units and eight 1-bedroom/1-bath units, with tenants separately metered for gas and electricity. Additional amenities include pool, garage parking and on-site laundry. Ideally situated east of Garfield Avenue, the property enjoys a highly walkable location just minutes from Whittier Boulevard's restaurants, shopping, and entertainment, while offering convenient access to the 5, 710, and 60 Freeways for an easy commute to Downtown Los Angeles. The property is also subject to the Unincorporated Los Angeles County Rent Stabilization Ordinance, providing investors with a clear regulatory framework.
Location
State CA
County Los Angeles
Zoning LCR3YY
Interior
Fireplace No
Laundry Laundry Room
Building
New Construction No
Others
Tax ID 6338011019
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Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty
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