CA > Montebello
Montebello, CA 90640,862 W Mines AVE
Montebello, CA 90640,862 W Mines AVE
Montebello, CA 90640,862 W Mines AVE
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$5,600,000
Est. payment /mo
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48 Beds
32 Baths
19,013 SqFt
Price Dropped by $550K

862 W Mines AVE Montebello, CA 90640

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Jerry And Rachel Team Hsieh

Jerry And Rachel Team Hsieh

+1(424) 242-8856

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 19,013 sqft

Price per Sqft $294

MLS Listing ID 25521395

Bedrooms 48

HOA Y/N No

Year Built 1988

Lot Size 0.663 Acres

Property Description

$550,000 PRICE REDUCTION - 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, please take a look at the Walk-The-Property-Video with Shant.

Location

State CA

County Los Angeles

Area 674 - Montebello

Zoning MNR3YY

Interior

Cooling Central Air

Fireplace No

Laundry None

Exterior

Parking Features Door-Multi, Garage

Total Parking Spaces 32

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 6350022059

Special Listing Condition Standard

CRMLS – RECore
Listed by Shant Sherbetdjian Remax Commercial and Investment Realty

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agent

Jerry And Rachel Team Hsieh

Owner/Director of Sales | License ID: 01701809

+1(424) 242-8856

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862 W Mines AVE

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