862 W Mines Avenue, Montebello, CA 90640

• 19,013 sqft

Property Description

5.68% CAP RATE AND 11.02 GRM ON CURRENT RENTS. We are pleased to present a fantastic opportunity in Montebello, 16 Spacious Units built in 1988 consisting of Spacious 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments, averaging approximately 1,188 square feet each. This property is fully occupied and yields a 5.68% Cap Rate and 11.02 GRM on current rents. All units have central A/C & Heat, 2-Garage parking and private patios. This pride of ownership property has undergone many recent capital improvements such as; a new roof (in 2018), full copper plumbing (in 2019), and 11 of the 16 A/C Units were replaced (in the last 3 years). The property also has separate water heaters and is separately metered for gas and electricity. This complex is comprised of 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). Units are tenant occupied, interior photos provided.

Listing Status:

Active

Date Added:

April 7, 2025 at 05:00AM

Listing Office:

Remax Commercial and Investment Realty : 213-817-1000

Listing Agent:

Shant Sherbetdjian : 626-657-8150

MLS ID:

CL25521395

Interior

• Laundry: No Hookups
• A/C: Central Air

Exterior

• Parking: Other

Location

• Originating MLS: CRMLS
• County: Los Angeles

Lot

• Zoning: MNR36350022059

Financial

• Source: CRMLS

This listing courtesy of Shant Sherbetdjian, Remax Commercial and Investment Realty