Shant Sherbetdjian 6266578150

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

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