Twin Palm Multifamily Apartment
116-128 N Poplar Ave Montebello, CA 90640
For Sale
$8,950,000
Two adjoining parcels totaling 39 units, with multiple laundry rooms and individually metered gas and electricity.
Property Size33,639 SF
Lot Size1.37 Acres
Price / SF$266.06
Days on Market113
Property Features for 116-128 N Poplar Ave
General Information
- Standard status
- Active
- Size
- 33,639 SF
- Lot size
- 1.37 Acres
- Property subtype
- Multifamily
Listing Agency:
(909) 456-7019
Listed By:
Drew Wetherholt · License #License(s): CA: 01065168
(909) 456-7019
Source:
Marcusmillichap
Added: Apr 3
Changed: Jul 23
Last Checked: Jul 23 at 6:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Drew Wetherholt
Investment Insights
Based on property information with market context.
Twin Palm Apartments is a 39-unit multifamily offering delivered across two adjacent legal parcels at 116 N. Poplar Ave and 128 N. Poplar Ave. The 27-unit component consists of four separate two-story multifamily buildings, while the 12-unit component includes four single-story residential houses and an eight-unit multifamily building. The property comprises a total of nine buildings and was built in 1954 and 1962, with recent upgrades including new electric sub-panels in each unit.
On-site amenities include multiple laundry rooms, tuck-under parking, and both carport and open parking spaces. Each unit is individually metered for gas and electricity, while the landlord is responsible for water, sewer, and trash.
Unit mix is comprised of one-, two-, and three-bedroom apartments, providing a range of residential configurations within a larger, consolidated multifamily setup.
On-site amenities include multiple laundry rooms, tuck-under parking, and both carport and open parking spaces. Each unit is individually metered for gas and electricity, while the landlord is responsible for water, sewer, and trash.
Unit mix is comprised of one-, two-, and three-bedroom apartments, providing a range of residential configurations within a larger, consolidated multifamily setup.
Key Highlights
- Twin Palm Apartments: 39‑unit multifamily asset in Montebello, CA across 2 adjoining legal parcels
- 27 units at 116 N Poplar Ave and 12 units at 128 N Poplar Ave, on separate legal parcels next to each other
- Unit mix includes 1-, 2-, and 3‑bedroom apartments, with multiple laundry rooms plus carport and open parking
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.07M | $31.80 |
| − Vacancy | −$85.6k | −$2.54 |
| EGI | $984.1k | $29.26 |
| − OpEx | −$442.9k | −$13.17 |
| NOI | $541.3k | $16.09 |
33,639 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.73M
$6.77M – $9.02M
NOI $541,278 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.01M
$15.76M – $21.01M
NOI $1,260,713 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Two adjoining parcels totaling 39 units, with multiple laundry rooms and individually metered gas and electricity.
Where is this apartment building located?
The property is located at 116-128 N Poplar Ave Montebello, CA.
What is the asking price?
The asking price for this property is $8,950,000.
What are key features of this property?
This property features: Twin Palm Apartments: 39‑unit multifamily asset in Montebello, CA across 2 adjoining legal parcels; 27 units at 116 N Poplar Ave and 12 units at 128 N Poplar Ave, on separate legal parcels next to each other; Unit mix includes 1-, 2-, and 3‑bedroom apartments, with multiple laundry rooms plus carport and open parking
