CA > Montebello
Montebello, CA 90640,919 Carob WAY
Montebello, CA 90640,919 Carob WAY
Montebello, CA 90640,919 Carob WAY
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

The Warburton Team

+1(626) 630-2141
$3,295,000
Est. payment /mo
16 Beds
14 Baths
8,334 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,334 sqft

Price per Sqft $395

MLS Listing ID 25519241

Bedrooms 16

HOA Y/N No

Year Built 1958

Lot Size 0.374 Acres

Property Description

SELLER FINANCING: Seller to carry the 1st trust deed with 35% down payment at a 6.50% interest-only rate fixed for 5 years! We are pleased to present the 919-921 Carob Way Apartments. This is the first time these apartments are being offered for sale in over 22 years. This property has been family owned and operated for two decades. This fantastic apartment complex has an excellent cashflow yielding a 6.65% Cap Rate and 10.27 GRM. This desirable 12 (+1 non-conforming) unit complex is located in the central Montebello neighborhood and situated in a historically low vacancy rental pocket. With an attractive unit mix of spacious 1, 2 & 3-bedroom units, this property offers multiple ADU potential as it is sitting on a large 16,286 square foot R3 zoned lot. The opportunity to legalize the non-conforming unit as an ADU (buyer to verify) and rent increase potential gives the buyer many angles to further increase revenue. The owner owned laundry machines also bring in additional income. Tenants enjoy the convenience of being within a short commute to many shops and restaurants as well as the simplicity of accessing the 5, 60 and 605 freeways. Please note, this property is only subject to the California Statewide AB1482 Rent Ordinance with NO local rent control for this city.

Location

State CA

County Los Angeles

Area 674 - Montebello

Zoning MNR3YY

Interior

Fireplace No

Laundry Laundry Room

Exterior

Parking Features Carport, Uncovered

Carport Spaces 8

Total Parking Spaces 13

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 6352028006

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty

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