11-Unit Apartment
For Sale
$2,638,000
Pending
500 S 6th St, Montebello, CA 90640
Residential Income, Montebello, CA
Property Size10,556 SF
Lot Size0.38 Acres
Days on Market156
Property Features for 500 S 6th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MNR3YY
Bedrooms
22
Bathrooms
22
Full bathrooms
2
Rooms
Bedroom 18, Bathroom 22, Bedroom 14, Bedroom 19, Bathroom 2, Bedroom 12, Bathroom 13, Bathroom 17, Bathroom 15, Bathroom 7, Bedroom 2, Bathroom 3, Bathroom 6, Bathroom 21, Bedroom 15, Bedroom 11, Bathroom 4, Bedroom 3, Bathroom 10, Bedroom 7, Bedroom 4, Bathroom 19, Bathroom 8, Bathroom 14, Bedroom 6, Bedroom 17, Bedroom 9, Bedroom 1, Bathroom 16, Bathroom 20, Bedroom 10, Bedroom 8, Bedroom 13, Bathroom 12, Bathroom 18, Bathroom 9, Bedroom 21, Bedroom 5, Bedroom 22, Bathroom 1, Bathroom 11, Bedroom 16, Bedroom 20, Bathroom 5
Parking
11
Parking features
Carport, Covered
Directions
Situated on South 6th Street between West Walnut Avenue and West Mines Avenue. The nearest major intersection is South Montebello Boulevard and Washington Boulevard.
Subdivision
Montebello
Standard status
Pending
APN
6349-022-045
Size
10,556 SF
Lot size
0.38 Acres
Amenities
on-site parking
secured entry
private outdoor spaces
on-site laundry facility
Building Details
Year built
1962
Floors in Building
2
Number of units
11
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Shant Sherbetdjian · License #01713570
(626) 657-8150
Added: Apr 13
Changed: Sep 12
Last Checked: Sep 15 at 8:06AM
MLS# 26698721
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 11-unit apartment property contains two-story, townhome-style residences with two bedrooms and 1.5 bathrooms per unit. The building provides 10,556 square feet on a 16,417-square-foot lot, was constructed in 1962, and operates entirely on electric service. Covered and carport parking, secured entry, and private outdoor areas in select units support the existing configuration. An on-site laundry facility is also available for additional machines.
The property occupies a corner location at 500 S 6th St in Montebello, with access to the 60, 605, 710, and 5 freeways. Current operations reflect a 5.93% cap rate and 11.10 GRM, with approximately 39% rental upside identified in the property information. The asset is subject to AB 1482 and is not under local rent control. It is identified as part of a six-property, 47-unit multifamily portfolio, with individual acquisition permitted.
The property occupies a corner location at 500 S 6th St in Montebello, with access to the 60, 605, 710, and 5 freeways. Current operations reflect a 5.93% cap rate and 11.10 GRM, with approximately 39% rental upside identified in the property information. The asset is subject to AB 1482 and is not under local rent control. It is identified as part of a six-property, 47-unit multifamily portfolio, with individual acquisition permitted.
Key Highlights
- 11 units with two‑story, townhome‑style layouts
- 10,556 square feet on a 16,417‑square‑foot lot
- Each unit has 2 bedrooms and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$169,854
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,397,080
$3.4M
Cap Rate 7%
$2,426,486
$2.4M
Cap Rate 9%
$1,887,267
$1.9M
Market Conditions
NOI Build-Up for 10,556 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$335.7K $31.80/SF
− Vacancy
−$26.9K −$2.54/SF
EGI
$308.8K $29.26/SF
− OpEx
−$139.0K −$13.17/SF
NOI
$169.9K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,397,080
Cap Rate 7%
$2,426,486
Cap Rate 9%
$1,887,267
Alternative Uses
Best Use
Apartment 5plus
$2.43M
$2.12M – $2.83M
NOI $169,854 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.65M
$4.95M – $6.59M
NOI $395,615 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 90640, CA
62,678
Population
20,438
Households
3.1
Avg Household Size
38
Median Age
22%
College-Educated
74%
High-School Grad
8.3 sq mi
ZIP Area
7,552
Density / Sq Mi
$74,833
Median Household Income
$37,983
Median Earnings
$1,771
Median Rent
$660,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Townhome-style residences offer two bedrooms, one and a half baths, and private outdoor areas in select units.
Where is this apartment building located?
The property is located at 500 S 6th St Montebello, CA.
What is the asking price?
The asking price for this property is $2,638,000.
What are key features of this property?
This property features: 11 units with two‑story, townhome‑style layouts; 10,556 square feet on a 16,417‑square‑foot lot; Each unit has 2 bedrooms and 1.5 bathrooms
