862 W Mines Avenue

Montebello, CA 90640

$6,150,000

List Price

48

bed Beds

32

shower Baths

19,013 sqft

straighten / sqft

1988

calendar_month Built

Property Description

We are pleased to present a fantastic opportunity in Montebello, 16 Spacious Unit built in 1988 with 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments, and averaging 1,188 square feet in each unit. Prime investment at full occupancy 100% with a 5.02% Cap Rate on current rents. This pride of ownership property has undergone 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. This complex is outlined with 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). Income flow for first time investor or exchange up-leg purchase.

Listing Information

List Price $6,150,000
Status Active
MLS 25521395
Type Residential Income
Year Built 1988
Lot Size 28,868
Structure Size 19,013
Courtesy Of Remax Commercial and Investment Realty
Listing Agent Shant Sherbetdjian DRE#01713570

Interior Features

Laundry Information
Location(s) Laundry Room
Total Bedroom
Bedrooms 48
Total Bathroom
Bathrooms 32
Cooling Type
Cooling Type Central Air

Maps

home_work Nearby Properties

Listing information courtesy of: Shant Sherbetdjian, Remax Commercial and Investment Realty 626-657-8150. *Based on information from the Association of REALTORS/Multiple Listing as of Apr 7th, 2025 at 5:08 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.