221 S Maple Avenue, Montebello, CA 90640
- $2,095,000
- List Price
- $2,095,000
- Price Change
- ▼ $55,000 1786674917
- Status
- ACTIVE
- MLS#
- CV26115746
- Year Built
- 1947
- Lot Size
- 12,178
- Acres
- 0.28
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 62
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- One Level
Property Description
Price Reduced! Rare opportunity to acquire two side-by-side 5-unit properties in the city of Montebello, offering 10 total units across two separate parcels in one of the area's most supply constrained multi-family markets. Now offered at $2,095,000, only $209,500 per unit, the property provides investors an attractive entry point into a market where apartment inventory rarely becomes available. The investment currently delivers a 5% CAP Rate and 12.6 GRM, with an estimated 25% upside in rental income, creating an opportunity for increased cash flow over time. The properties feature a desirable configuration with six single-story units and four second-level units with parking below. The unit mix consists of six 1-Bed/1-Bath units and four Studio apartments. Residents enjoy onsite garage parking, while tenants pay for their own utility usage, creating an efficient operating structure for ownership. Another significant advantage is no local city rent control, providing greater flexibility for investors as they work toward capturing the property's rental upside. Ideally located in a prime Montebello rental pocket just minutes from Montebello Park, Whittier Boulevard, schools, shopping, and major amenities, this offering combines compelling new pricing, strong in-place income, and meaningful rental upside. At just $209,500 per unit, this is an opportunity for investors looking to take advantage of aggressive pricing in the San Gabriel Valley.
Additional Information
- Pool Description
- None
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Roof
- Shingle
- Garage Spaces Total
- 6
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 10
- Gross Scheduled Income
- $165,360
- Operating Expense
- 53904
Listing courtesy of Listing Agent: Kristopher German (kris@theapartmentdealer.com) from Listing Office: RE/MAX 2000 REALTY.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.