233 North 7th Street

Montebello, CA 90640

$2,388,000
Price
16
Beds
10
Baths
5,408 Sq. Ft.
$442 / Sq. Ft.
5,408
Sq. Ft.
$442
per Sq. Ft.

Description

We are pleased to present for sale, 6 Deluxe units in a highly desirable North Montebello location, consisting of spacious 2 and 3 bedroom units, ALL OCCUPIED UNITS. Situated just North of Whittier Blvd, this investment opportunity yields excellent cash flow with a 6.11% Cap Rate and 11.15 GRM on scheduled rents. The building has a desirable unit mix of (Four) 3 bed + 1.75 bath and (Two) 2 bed + 1 bath units. With many recent capital improvements, some units have been renovated with new paint, windows,...We are pleased to present for sale, 6 Deluxe units in a highly desirable North Montebello location, consisting of spacious 2 and 3 bedroom units, ALL OCCUPIED UNITS. Situated just North of Whittier Blvd, this investment opportunity yields excellent cash flow with a 6.11% Cap Rate and 11.15 GRM on scheduled rents. The building has a desirable unit mix of (Four) 3 bed + 1.75 bath and (Two) 2 bed + 1 bath units. With many recent capital improvements, some units have been renovated with new paint, windows, floors, shower, vanity and more. Tenants enjoy the convenience of on-site laundry and covered parking. The upper level units have vaulted ceilings. This property is a short distance to many shops and restaurants on Whittier Blvd. Buyer has the option to Assume the Current CHASE Loan ($925,000) at 3.41% Interest Rate Fixed until 12/2025. Property is subject to the statewide AB1482 rent ordinance, with no local rent control.
  1. Listed by Shant Sherbetdjian • DRE #01713570 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 233 North 7th Street

Zoning
MNR3YY
Cross Streets
W Madison Ave
Parcel Number
6346012022
Total Units
6.0
Living Area
5408
Source Living Area
Vendor Enhanced
Area
Montebello (674)
Vacancy Rate
0
LISTING UPDATED: 10/04/2024 04:17 PM

Property Details for 233 North 7th Street

StatusActive
MLS #24-433013
Days on Market86
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.18 AC / 7,819 SF
CountyLos Angeles County

Building Information for 233 North 7th Street

Stories2Residences-Year Built1960Building Size-Lot Size0.18 AC / 7,819 SF

Property Information for 233 North 7th Street

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $203,387
  • Net Operating Income: $145,937.00
  • Gross Income: $212,364
  • Cap Rate: 6.11%
  • Gross Rent Multiplier: $11.15
  • Actual Gross Annual Income: $214,092
  • Vacancy Allow Dollar: $10,867.00
  • Vacancy Allow Percent: 5.00%
  • Total Annual Expense: 57450
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1796
  • Lot Size Square Feet: 7819
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 6
  • Covered Parking: 6
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s), Other
  • Heating Type: Other
  • Equipment: Garbage Disposal, Range/Oven, Cable
  • Laundry: Other
  • Laundry Equipment: Lease
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-28-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,158.00
  • Unit Actual Rent: $12,631.00
  • Unit Projected Rent: $13,100.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,533.00
  • Unit Actual Rent: $5,066.00
  • Unit Projected Rent: $5,300.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $710,162.00
  • Assessed Improvement Percent: 64.52
  • Assessed Land Value: $390,586.00
  • Assessed Land Percent: 35.48
  • Assessed Total Value: $1,100,748.00

Property History for 233 North 7th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 233 North 7th Street

Taxable ValueLand$398,397Additions$724,365Total$1,122,762
Tax Record2024$16,855 ($1,405 / month)
Home Facts
Total Finished SqFt5,408 SqFtAbove Grade Finished SqFt5,408 SqFtLot Size7,821 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningMNR3YYCountyLOS ANGELESAPN6346-012-022

Schools near 233 North 7th Street

This home is within Montebello Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Fremont Elementary School
PublicK to 5

La Merced Intermediate School
Public6 to 8

Montebello High School
Public9 to 12

Applied Technology Center
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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233 North 7th Street is a multi-family home for sale in Montebello, CA 90640. This property was listed for sale on August 28, 2024 by Remax Commercial and Investment Realty, it's currently listed at $2,388,000. It has been on the market for a total of 86 days and was last sold on February 22, 2013. This listing's school district is Montebello Unified School District. Nearby schools include Fremont Elementary School, La Merced Intermediate School and Montebello High School. 233 North 7th Street is a 16-bed, 10-bath, 5,408 sqft multi-family home built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Shant Sherbetdjian, DRE #01713570

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.