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331 N Montebello Boulevard

Montebello, CA 90640
  • $3,250,000
  • STATUS: ACTIVE
  • ON SITE: 10 Days
  • ID#: PF24202427
UPDATED: 82 min ago
$3,250,000
  • 8
    BEDS
  • 0.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

329-331 North Montebello Boulevard is being offered for sale for the first time in over two decades. It comprises a large House and 10 units on one parcel. It is a generational asset that has been well-maintained and self-managed within the same family during this time. The property consists of one 3bdr/1.75bath house (estimated 1,600 sf), one 2bdr/1.5bath unit, five 2bdr/1bath units, and four 1bdr/1bath units. The total building square footage is 10,479 estimated square feet and the lot size is 19,468 estimated square feet. It is zoned R-3. The house is a single-story building (with a patio) attached, by a garage, to a two-story building which comprises two units (bottom unit has a patio). The bigger two-story building in the back has 8 units. There are 18 parking spaces total: four one-car garages, seven tuck-under spaces, and seven surface spaces. Seismic retrofit for tuck-under parking is not mandated for the city of Montebello. The buildings are of wood & stucco composition and have pitched roofs. There is an on-site washer (replaced in 2024) and dryer owned by the building. Units utilize wall air-conditioning units and forced air for heating. The house uses a 40-gallon water heater, the two units in the front uses a 40-gallon water heater, and the eight units in the back use a 100-gallon water heater. Plumbing is cast-iron/galvanized and electrical panels are likely original. The building is separately metered for gas and electricity. The owner pays for water, sewer, trash and common area electricity and gas. It is desirably located about one block south of Montebello 329-331 North Montebello Boulevard is being offered for sale for the first time in over two decades. It comprises a large House and 10 units on one parcel. It is a generational asset that has been well-maintained and self-managed within the same family during this time. The property consists of one 3bdr/1.75bath house (estimated 1,600 sf), one 2bdr/1.5bath unit, five 2bdr/1bath units, and four 1bdr/1bath units. The total building square footage is 10,479 estimated square feet and the lot size is 19,468 estimated square feet. It is zoned R-3. The house is a single-story building (with a patio) attached, by a garage, to a two-story building which comprises two units (bottom unit has a patio). The bigger two-story building in the back has 8 units. There are 18 parking spaces total: four one-car garages, seven tuck-under spaces, and seven surface spaces. Seismic retrofit for tuck-under parking is not mandated for the city of Montebello. The buildings are of wood & stucco composition and have pitched roofs. There is an on-site washer (replaced in 2024) and dryer owned by the building. Units utilize wall air-conditioning units and forced air for heating. The house uses a 40-gallon water heater, the two units in the front uses a 40-gallon water heater, and the eight units in the back use a 100-gallon water heater. Plumbing is cast-iron/galvanized and electrical panels are likely original. The building is separately metered for gas and electricity. The owner pays for water, sewer, trash and common area electricity and gas. It is desirably located about one block south of Montebello Boulevard and West Beverly Boulevard, which is one of Montebellos most retail-rich intersections anchored by Vons, Marshalls, Starbucks, and Chase Bank. The asset has an 84 Walk Score, which means most errands can be accomplished on foot. The asset is also strategically located with convenient access to the 60, 5, and 605 Freeways. 329-331 North Montebello Boulevard represents a rare opportunity to acquire a generational asset with a large house, attractive and spacious unit mixes, on a sizable R-3 zoned lot, with ample parking. The asset yields strong-in place rental income and future rental upside in a dense, strategically located San Gabriel Valley submarket.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
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331 N Montebello Boulevard Montebello, CA 90640

  • Price: $3,250,000
  • Status: ACTIVE
  • On Site: 10 Days
  • Updated: 82 min ago
  • ID#: PF24202427
8
Beds
0
Baths
0
½ Baths
0.45
Acres
Neighborhood:
Montebello (90640)
County:
Los Angeles
Area:
Montebello (90640)
Property Description
329-331 North Montebello Boulevard is being offered for sale for the first time in over two decades. It comprises a large House and 10 units on one parcel. It is a generational asset that has been well-maintained and self-managed within the same family during this time. The property consists of one 3bdr/1.75bath house (estimated 1,600 sf), one 2bdr/1.5bath unit, five 2bdr/1bath units, and four 1bdr/1bath units. The total building square footage is 10,479 estimated square feet and the lot size is 19,468 estimated square feet. It is zoned R-3. The house is a single-story building (with a patio) attached, by a garage, to a two-story building which comprises two units (bottom unit has a patio). The bigger two-story building in the back has 8 units. There are 18 parking spaces total: four one-car garages, seven tuck-under spaces, and seven surface spaces. Seismic retrofit for tuck-under parking is not mandated for the city of Montebello. The buildings are of wood & stucco composition and have pitched roofs. There is an on-site washer (replaced in 2024) and dryer owned by the building. Units utilize wall air-conditioning units and forced air for heating. The house uses a 40-gallon water heater, the two units in the front uses a 40-gallon water heater, and the eight units in the back use a 100-gallon water heater. Plumbing is cast-iron/galvanized and electrical panels are likely original. The building is separately metered for gas and electricity. The owner pays for water, sewer, trash and common area electricity and gas. It is desirably located about one block south of Montebello 329-331 North Montebello Boulevard is being offered for sale for the first time in over two decades. It comprises a large House and 10 units on one parcel. It is a generational asset that has been well-maintained and self-managed within the same family during this time. The property consists of one 3bdr/1.75bath house (estimated 1,600 sf), one 2bdr/1.5bath unit, five 2bdr/1bath units, and four 1bdr/1bath units. The total building square footage is 10,479 estimated square feet and the lot size is 19,468 estimated square feet. It is zoned R-3. The house is a single-story building (with a patio) attached, by a garage, to a two-story building which comprises two units (bottom unit has a patio). The bigger two-story building in the back has 8 units. There are 18 parking spaces total: four one-car garages, seven tuck-under spaces, and seven surface spaces. Seismic retrofit for tuck-under parking is not mandated for the city of Montebello. The buildings are of wood & stucco composition and have pitched roofs. There is an on-site washer (replaced in 2024) and dryer owned by the building. Units utilize wall air-conditioning units and forced air for heating. The house uses a 40-gallon water heater, the two units in the front uses a 40-gallon water heater, and the eight units in the back use a 100-gallon water heater. Plumbing is cast-iron/galvanized and electrical panels are likely original. The building is separately metered for gas and electricity. The owner pays for water, sewer, trash and common area electricity and gas. It is desirably located about one block south of Montebello Boulevard and West Beverly Boulevard, which is one of Montebellos most retail-rich intersections anchored by Vons, Marshalls, Starbucks, and Chase Bank. The asset has an 84 Walk Score, which means most errands can be accomplished on foot. The asset is also strategically located with convenient access to the 60, 5, and 605 Freeways. 329-331 North Montebello Boulevard represents a rare opportunity to acquire a generational asset with a large house, attractive and spacious unit mixes, on a sizable R-3 zoned lot, with ample parking. The asset yields strong-in place rental income and future rental upside in a dense, strategically located San Gabriel Valley submarket.
Exterior Features

Pool N/K Site Curbs

Interior Features

Cooling Wall/Window Heat Equipment Forced Air Unit Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 2 Total Baths Unit4 2

Property Features

Actual Cap Rate 4.5 Annual Expense Actual 86275 Buildings 2 Cfd Mello Roos Fee 2850.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 13.63 Gross Scheduled Income Actual 238416 Monthly Total Fees 237 Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 1306.0 Unit2 Rent Actual 1749.0 Unit3 Rent Actual 2100.0 Unit4 Rent Actual 3100.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Andy Chan of Keller Williams Realty: 626-321-7410. Listing information © 2024 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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