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    The Largest CRE Database in the US with Over 1 Million Listings

    862 W Mines Ave Montebello, CA 90640

    Sponsored
    For Sale
    Pending
    $5,600,000

    MULTI_FAMILY - Montebello, CA

    Property size:
    19,013 SF
    Lot size:
    0.66 Acres
    Days on Market:
    6
    Last Refresh:
    Jan 22 at 12:06 am

    Property Features for 862 W Mines Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Zoning
    MNR3YY
    Rooms
    Bathroom 15, Bathroom 25, Bedroom 46, Bedroom 11, Bedroom 36, Bathroom 5, Bedroom 7, Bathroom 18, Bathroom 26, Bedroom 8, Bedroom 35, Bedroom 1, Bedroom 29, Bathroom 17, Bathroom 29, Bathroom 3, Bedroom 2, Bathroom 16, Bedroom 21, Bathroom 2, Bedroom 47, Bedroom 18, Bedroom 15, Bedroom 41, Bedroom 39, Bedroom 31, Bedroom 9, Bathroom 11, Bedroom 43, Bathroom 28, Bathroom 20, Bedroom 38, Bedroom 3, Bathroom 14, Bedroom 42, Bedroom 19, Bathroom 19, Bathroom 12, Bedroom 10, Bedroom 26, Bathroom 7, Bathroom 13, Bedroom 37, Bedroom 28, Bedroom 22, Bedroom 30, Bathroom 24, Bathroom 4, Bathroom 9, Bedroom 20, Bedroom 48, Bedroom 44, Bathroom 27, Bathroom 23, Bathroom 31, Bedroom 27, Bathroom 22, Bedroom 12, Bathroom 6, Bathroom 21, Bedroom 24, Bedroom 34, Bedroom 14, Bedroom 5, Bedroom 33, Bedroom 13, Bedroom 45, Bathroom 8, Bedroom 6, Bedroom 4, Bedroom 17, Bathroom 32, Bedroom 23, Bedroom 40, Bedroom 25, Bathroom 1, Bedroom 16, Bedroom 32, Bathroom 30, Bathroom 10
    Bedrooms
    48
    Bathrooms
    32
    APN
    6350-022-059
    Parking
    32
    Parking features
    Garage
    Size
    19,013 SF
    Lot size
    0.66 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1988
    Floors in Building
    2
    Number of units
    16

    We can help!

    Listing Contact
    Shant Sherbetdjian

    RE/MAX Commercial & Investment (310) 802-2500 [email protected]

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

    Listing date Jan 17, 2026

    Copyright © 2026 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

    Spacious Montebello Multifamily Investment

    This multifamily property in Montebello, California, features 16 spacious units constructed in 1988. The property consists of two-story townhome-style apartments, each with three bedrooms and 1.5 bathrooms, averaging approximately 1,188 square feet. The complex is fully occupied and generates a 5.68% cap rate and an 11.02 GRM based on current rents. Each unit includes central air conditioning and heating, a two-car garage, and a private patio. Recent capital improvements include a new roof installed in 2018, full copper plumbing installed in 2019, and replacement of 11 of the 16 air conditioning units within the last three years. The property also features separate water heaters and individual gas and electricity meters for each unit. The complex comprises eight extra-large duplexes situated on a 28,868 square foot lot. The property is zoned MNR3YY and is located on West Mines Avenue, between Greenwood Avenue and South Montebello Boulevard. The property is subject to the statewide AB1482 rent ordinance and has no local rent control. Interior photos are available, showcasing the tenant-occupied units.
    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 Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Montebello
    County
    Los Angeles
    State
    California
    Longitude
    -118.113479
    Latitude
    34.003411

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    FAQs

    What type of property is this?
    Apartment building - 16-unit apartment complex in Montebello with strong income potential.
    Where is this apartment building located?
    The property is located at 862 W Mines Ave Montebello, CA.
    What is the asking price?
    The asking price for this property is $5,600,000.
    What are key features of this property?
    This property features: - 16 spacious, fully occupied 3-bedroom townhome-style apartments averaging 1,188 sq ft each.; - Attractive investment opportunity with a **5.68% Cap Rate** and **11.02 GRM** on current rents.; - Significant recent capital improvements: new roof (2018), full copper plumbing (2019), and 11 A/C units replaced in the last 3 years.
    (213) 817-1000
    Request Owner's contact information
    862 W Mines Ave 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
    862 W Mines Ave 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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