thank you
Your email has been sent!
5 Units North Montebello 100% 2bed/1bath 137 N 3rd St 5 Unit Apartment Building $1,795,000 ($359,000/Unit) 5.47% Cap Rate Montebello, CA 90640
INVESTMENT HIGHLIGHTS
- Desirable North Montebello Location | Situated North of Whittier Blvd | First Time Offered For Sale in 15 Years!
- On-Site Laundry Room (with Owner-Owned Laundry Machines) | Separately Metered for Gas & Electricity |
- Considered Very Walkable (83 Walk Score) | Walking Distance to Shops & Restaurants on Whittier Blvd | Conveniently Located Near the 5, 60 and 605 Free
- Excellent Unit Mix Consisting of Spacious 2 Bedroom + 1 Bathroom Units | Strong In-Place Rents with Rental Upside Potential | Garage Parking for All U
- 12.30 GRM & 5.47% Cap Rate on Current Rents | Capital Improvements (Full Copper Plumbing, Updated Electrical Panels, All New Vinyl Windows)
- Property is only Subject to Statewide AB1482 Rent Control | No Local Rent Control
EXECUTIVE SUMMARY
We are pleased to present FIVE spacious 2 bedroom + 1 bathroom units in desirable North Montebello Location. This prime investment opportunity is situated just North of Whittier Blvd (near Shops and Restaurants and considered "Very Walkable" in an 83-Walk Score. Capital improvements include full copper plumbing, updated electrical panel and all new vinyl windows. All units have garage parking with the convenience of on-site laundry room (with owner-owned laundry machines). Strong in-place rents brings in 12.30 GRM and a 5.47% Cap Rate on current rents. All units are separately metered for gas and electricity. This property is subject to statewide AB1482 rent ordinance (with no local rent control). Situated on North 3rd Street, between W Whittier Blvd and W Cleveland Ave. Please do not walk on the property, do not disturb or engage tenants regarding the property. Drive by only, tenants are not aware of the sale, direct all questions to agent. For more information and to obtain a full marketing package (including rent roll, income/expense breakdown), please call/text/email the office. No showing appointments, all access is via offer subject to inspection. Please do not contact occupants, do not walk on property, drive by only.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$143,592
|
$35.61
|
| Other Income |
$2,400
|
$0.60
|
| Vacancy Loss |
$4,380
|
$1.09
|
| Effective Gross Income |
$141,612
|
$35.12
|
| Taxes |
$25,635
|
$6.36
|
| Operating Expenses |
$17,872
|
$4.43
|
| Total Expenses |
$43,507
|
$10.79
|
| Net Operating Income |
$98,105
|
$24.33
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $143,592 |
| Annual Per SF | $35.61 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.60 |
| Vacancy Loss | |
|---|---|
| Annual | $4,380 |
| Annual Per SF | $1.09 |
| Effective Gross Income | |
|---|---|
| Annual | $141,612 |
| Annual Per SF | $35.12 |
| Taxes | |
|---|---|
| Annual | $25,635 |
| Annual Per SF | $6.36 |
| Operating Expenses | |
|---|---|
| Annual | $17,872 |
| Annual Per SF | $4.43 |
| Total Expenses | |
|---|---|
| Annual | $43,507 |
| Annual Per SF | $10.79 |
| Net Operating Income | |
|---|---|
| Annual | $98,105 |
| Annual Per SF | $24.33 |
PROPERTY FACTS In Escrow
| Price | $1,795,000 | Apartment Style | Low-Rise |
| Price Per Unit | $359,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.47% | Building Size | 4,032 SF |
| Gross Rent Multiplier | 12.3 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.24/1,000 SF |
| Price | $1,795,000 |
| Price Per Unit | $359,000 |
| Sale Type | Investment |
| Cap Rate | 5.47% |
| Gross Rent Multiplier | 12.3 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,032 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.24/1,000 SF |
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | $2,382 | 806 |
Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 6346-023-012 | Total Assessment | $753,622 |
| Land Assessment | $439,613 | Annual Taxes | $25,635 ($6.36/SF) |
| Improvements Assessment | $314,009 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
6346-023-012
Land Assessment
$439,613
Improvements Assessment
$314,009
Total Assessment
$753,622
Annual Taxes
$25,635 ($6.36/SF)
Tax Year
2024
ZONING
| Zoning Code | MNR3YY |
| MNR3YY |
1 of 19
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
5 Units North Montebello 100% 2bed/1bath | 137 N 3rd St
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.