Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Montebello Multifamily Property For Sale Title is generated by Realmo AI

    509 - 523 N 3rd St., Montebello, CA 90640

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    12-unit multifamily property with vacant land in Montebello, CA.

    Type:Multifamily
    Property size:
    11,923 SF
    Lot size:
    0.37 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    75
    Last Refresh:
    Feb 26 at 8:54 pm

    Property Features for 509 - 523 N 3rd St.

    General Information

    Standard status
    Active
    Size
    11,923 SF
    Lot size
    0.37 Acres
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Brendan McArthur

    Listing agent Brendan McArthur License #CalDRE #1185335

    Listing office Retail Property Advisors

    Listing date Feb 26, 2026

    Source Retail-pa

    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 Retail Property Advisors

    HighLights

    • Value add opportunity
    • High vacancy
    • 12‑unit multi‑family property
    • Zoning: General Commercial (C‑2) and Multiple‑Family Residential (R‑3)
    • Across Beverly Blvd. from Adventist Health White Memorial Hospital
    • Nearby retailers include The Home Depot, Target, Superior Grocers, Vons, Harbor Freight, Big 5 Sporting Goods, Marshalls and more

    Overview

    This 12-unit multifamily property in Montebello, CA, comprises five buildings totaling 11,923 square feet and approximately 0.37 acres of vacant land. The property is zoned General Commercial (C-2) and Multiple-Family Residential (R-3). It presents a value-add opportunity with high vacancy. The location is across Beverly Blvd. from Adventist Health White Memorial Hospital. Nearby retailers include The Home Depot, Target, Superior Grocers, Vons, Harbor Freight, Big 5 Sporting Goods, and Marshalls. The APN is 5269-013-037.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience 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
    -118.1008666
    Latitude
    34.0166579

    Nearby Similar for Sale

    • $2,900,000
      10,556 SF

      Montebello Multifamily Townhome-Style Units

      Eleven townhome-style units with value-add potential in Montebello, CA.
      500 S 6th St, Montebello, CA 90640
      View Details
    • $1,800,000
      5,326 SF

      Multifamily Property in Montebello, CA

      Well-maintained multifamily property with income potential in Southern California.
      600 W Mines Ave, Montebello, CA 90640
      View Details
    • $650,000
      1,400 SF

      Liquor Store Business & Real Estate

      Established liquor store with check cashing business and real estate.
      1129 Washington, Montebello, CA 90640
      View Details
    • $2,150,000
      7,559 SF

      Montebello Multifamily Investment Opportunity

      Rare multifamily property with value-add potential in North Montebello.
      328 N 2nd St, Montebello, CA 90640
      View Details
    • $1,650,000
      4,036 SF

      Remodeled Triplex with ADU

      Turnkey triplex with bonus ADU in prime Montebello location.
      219 S Greenwood, Montebello, CA 90640
      View Details
    • $1,395,000
      2,674 SF

      Montebello Multifamily Investment Opportunity

      North Montebello property with upside potential and convenient location.
      125 N 4th St, Montebello, CA 90640
      View Details
    • $250,000
      1,400 SF

      Montebello Retail Business Opportunity

      Established business on Washington Boulevard with high check cashing volume.
      1129 Washington, Montebello, CA 90640
      View Details
    • $3,300,000

      Montebello Corner Commercial Building

      Three-story commercial building with event venue and retail units.
      917 W Whittier, Montebello, CA 90640
      View Details
    • $699,999

      Montebello Retail Property for Sale

      Retail property at the meeting point of Montebello and East LA.
      3544 W Beverly Blvd, Montebello, CA 90640
      View Details
    • $2,850,000

      Montebello Mixed-Use Retail Plaza

      Retail plaza in desirable area with high visibility and income.
      413 W Whittier, Montebello, CA 90640
      View Details
    • $1,600,000
      3,625 SF

      Remodeled Office Building with Parking

      Modern office space with dedicated parking in prime location.
      3317 W Beverly Blvd, Montebello, CA 90640
      View Details
    • Contact for pricing
      7,003 SF

      San Gabriel Valley Retail Center

      7,003 SF retail center on 0.43 AC for sale.
      312-318 W. Beverly Blvd., Montebello, CA 90640
      View Details

    FAQs

    What type of property is this?
    Apartment building - 12-unit multifamily property with vacant land in Montebello, CA.
    Where is this apartment building located?
    The property is located at 509 - 523 N 3rd St. Montebello, CA.
    What are key features of this property?
    This property features: Value add opportunity; High vacancy; 12‑unit multi‑family property
    (626) 298-3258
    We can help!
    Listing Contact
    Brendan McArthur
    Real Estate License ID: CalDRE #1185335
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    509 - 523 N. 3rd St. | Montebello, CA 90640
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!