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    616 Via Altamira Montebello, CA 90640

    Sponsored
    For Sale
    $2,120,000

    MULTI_FAMILY - Montebello, CA

    Property size:
    5,986 SF
    Lot size:
    0.21 Acres
    Days on Market:
    48
    Last Refresh:
    Jan 25 at 8:06 am

    Property Features for 616 Via Altamira

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    MNR3YY
    Rooms
    Bathroom 8, Bedroom 10, Bedroom 5, Bedroom 15, Bathroom 4, Bathroom 10, Bedroom 9, Bedroom 7, Bedroom 4, Bathroom 9, Bedroom 6, Bathroom 5, Bedroom 12, Bedroom 8, Bedroom 16, Laundry Room, Bedroom 11, Bathroom 1, Bathroom 3, Bedroom 13, Bedroom 1, Bedroom 14, Bedroom 3, Bathroom 7, Bathroom 6, Bathroom 2, Bedroom 2, Bedroom 17
    Bedrooms
    17
    Bathrooms
    10
    APN
    5268-005-009
    Parking
    12
    Parking features
    Covered
    Size
    5,986 SF
    Lot size
    0.21 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1963
    Floors in Building
    3
    Number of units
    6

    We can help!

    Listing Contact
    Shant Sherbetdjian

    RE/MAX Commercial & Investment (310) 802-2500

    Listing agent Shant Sherbetdjian (213) 817-1000 License #01713570

    Listing date Dec 9, 2025

    MLS# 25616493 Listing URL

    Copyright © 2025 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Montebello Multifamily Investment Opportunity

    This well-maintained 6-unit multifamily investment property is located in the desirable North Montebello area, bordering Monterey Park. The property features an excellent unit mix with mostly 3-bedroom units and is professionally managed. Secured entry and gated parking are included, along with an on-site laundry room for tenant convenience. Each unit is separately metered for gas and electricity, and most units have city or hillside views. Recent upgrades include a new 100-gallon central water heater. The property has excellent accessibility to major employment and retail centers, situated near the 60, 710, and 5 freeways. The neighborhood is considered "Very Walkable" with a 71 Walk Score, providing easy access to nearby shops, restaurants, and services. The property is only subject to the Statewide AB 1482 Rent Ordinance and not subject to local rent control, allowing for greater flexibility in rent adjustments. The lot size is 0.2069 acres, and the property size is 5986 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Montebello
    County
    Los Angeles
    State
    California
    Longitude
    -118.130193
    Latitude
    34.024484

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 6-unit multifamily property in North Montebello.
    Where is this apartment building located?
    The property is located at 616 Via Altamira Montebello, CA.
    What is the asking price?
    The asking price for this property is $2,120,000.
    What are key features of this property?
    This property features: - Excellent unit mix featuring mostly 3-bedroom units, appealing to families.; - Not subject to local rent control, only the Statewide AB 1482 Rent Ordinance.; - Located in the desirable North Montebello area, bordering Monterey Park.
    (213) 817-1000
    Request Owner's contact information
    616 Via Altamira Montebello, CA 90640
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    Montebello, CA 90640
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    616 Via Altamira Montebello, CA 90640
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    We can help!
    Listing Contact
    Shant Sherbetdjian
    Real Estate License ID: 01713570
    (213) 817-1000
    Learn more
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