723 West Mines Avenue

Montebello, CA 90640

$1,199,000
Price
5
Beds
4
Baths
2,717 Sq. Ft.
$441 / Sq. Ft.
2,717
Sq. Ft.
$441
per Sq. Ft.

Description

Amazing Investment Opportunity in Montebello, CA. Explore this exceptional multi-family property featuring a 3 apartment units and a modern ADU, offering the next owner four rental units in one prime location! This multi-family property is perfect for investors or owner-occupants looking to offset their mortgage with rental income. FRONT UNIT: Spacious 3-bedroom, 1-bath apartment. REAR UNITS: Two well-maintained 1-bedroom, 1-bath apartments. ADU: Recently converted garage featuring a modern studio...Amazing Investment Opportunity in Montebello, CA. Explore this exceptional multi-family property featuring a 3 apartment units and a modern ADU, offering the next owner four rental units in one prime location! This multi-family property is perfect for investors or owner-occupants looking to offset their mortgage with rental income. FRONT UNIT: Spacious 3-bedroom, 1-bath apartment. REAR UNITS: Two well-maintained 1-bedroom, 1-bath apartments. ADU: Recently converted garage featuring a modern studio apartment. The front unit and one 1-bedroom apartment are currently rented, providing immediate income, while the vacant ADU and second 1-bedroom unit allow you to handpick your tenants or occupy a unit yourself. KEY HIGHLIGHTS: Units are in great condition, with some recently remodeled - Each unit comes with oven range and indoor washer/dryer hookups - Centrally located with easy access to Downtown LA, Orange County, shopping, beaches, and more. - Owner covers water , trash and landscaping; tenants are responsible for gas and electricity. This property is a fantastic entry into multi-family investing or an affordable pathway to homeownership. Whether you're looking to grow your portfolio or enjoy the benefits of multi-family living, this property offers endless potential!
  1. Listed by Aldo Baltodano • DRE #01879659 • Brokerage DRE #02020877 • Greenpoint Real Estate Services • 951-833-1030
  2. Listed by Tracy Ly • DRE #02076053 • Brokerage DRE #02020877 • Greenpoint Real Estate Services

Property Details for 723 West Mines Avenue

Parking Spaces Total
5
Private Pool
No
Cooling Type
Wall/Window
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
2717
Assessor Parcel Number
6349-028-016
LISTING UPDATED: 12/20/2024 08:29 AM

Property Details for 723 West Mines Avenue

StatusActive
MLS #DW24249652
Days on Market2
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
Lot Size0.13 AC / 5,618 SF
CountyLos Angeles County

Building Information for 723 West Mines Avenue

Stories2Residences-Year Built1948Building Size-Lot Size0.13 AC / 5,618 SF

Property Information for 723 West Mines Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $58,668
  • Gross Scheduled Income: $121,200
  • Vacancy Allowance Rate: 5
  • Gross Operating Income: $109,080
  • Net Operating Income: $96,244
  • Cap Rate: 8.03
Expense Details
  • Operating Expense: $18,104
  • New Taxes Expense: $14,940
  • Gardener Expense: $840
  • Fuel Expense: $0
  • Licenses Expense: $336
  • Insurance Expense: $2,334
  • Trash Expense: $0
  • Water Sewer Expense: $1,440
  • Total Expenses: $19,890
Tax / Assessment Info
  • Tax Tract Number: 8382
  • Tax Census Tract: 5321.02
  • CFD/Mello-Roos Fee: $1,973
  • Tax Lot: 45
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Room Type: Attic
  • Laundry: Yes
  • Laundry Features: Gas & Electric Dryer Hookup, Washer Hookup
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: ENERGY STAR Qualified Equipment, Wall/Window Unit(s)
  • Heating Type: Combination, ENERGY STAR Qualified Equipment, Wall
  • Heating: Combination, ENERGY STAR Qualified Equipment, Wall Furnace
  • Heat Equipment: Combination Heating
  • Flooring: Laminate
Exterior Features
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Front Yard
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 1
  • Parking: Yes
  • Parking Garage: Driveway, Garage
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 1
  • Carport Spaces: 0
  • Parking Features: Driveway, Garage
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,900
  • Unit Type Total Rent: $2,900
  • Unit Type Pro Forma: 3300
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,989
  • Unit Type Total Rent: $1,989
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 2
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number With Range: 4
  • Number With Disposal: 4
  • Number Wall AC: 5

Property History for 723 West Mines Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 723 West Mines Avenue

Taxable ValueLand$544,870Additions$415,140Total$960,010
Tax Record2024$14,917 ($1,243 / month)
Home Facts
Total Finished SqFt2,094 SqFtAbove Grade Finished SqFt2,094 SqFtLot Size5,622 SqFtStyleTriplexYear Built1948ZoningMNR3YYCountyLOS ANGELESAPN6349-028-016

Schools near 723 West Mines Avenue

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
Greenwood Elementary School
PublicK to 5

Montebello 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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723 West Mines Avenue is a multi-family home for sale in Montebello, CA 90640. This property was listed for sale on December 18, 2024 by Greenpoint Real Estate Services, it's currently listed at $1,199,000. It has been on the market for a total of 2 days and was last sold on April 8, 2022. This listing's school district is Montebello Unified School District. Nearby schools include Greenwood Elementary School, Montebello Intermediate School and Montebello High School. 723 West Mines Avenue is a 5-bed, 4-bath, 2,717 sqft multi-family home built in 1948.

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 Greenpoint Real Estate Services, Aldo Baltodano, DRE #01879659; Greenpoint Real Estate Services, Tracy Ly, DRE #02076053

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.