6-Unit Apartment
New
For Sale
$2,795,000
2404 Montrose Avenue, Montrose, CA 91020
Two separate residential buildings include a renovated owner's residence and five additional apartments.
Property Size6,470 SF
Lot Size0.32 Acres
Price / SF$414.69
Days on Market4
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Property Features for 2404 Montrose Avenue
General Information
Standard status
Active
Size
6,470 SF
Lot size
0.32 Acres
Property subtype
Mixed Use
Units
Unit Mix
1 x 3BR/3.5BA, 5 x 2BR/1BA
Multifamily Units
6
Additional Details
Highway Access
Yes
Amenities
laundry room
storage lockers
Building Details
Building Size
6,470 SF
Year Built
1954
Buildings
2
Listing Agency:
Real Estate One
Listed By:
Patrick Barnes · License #01802953
Source:
Archetyperealty
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:10AM
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 Real Estate One
Investment Insights
Based on property information with market context.
This six-unit apartment property contains 6,740 square feet across two buildings on a 13,737-square-foot parcel comprising two APNs. The front structure pairs a remodeled two-story, three-bedroom, 3.5-bath residence with a single-level, two-bedroom, one-bath apartment. Central air and a private laundry room serve the residence. Behind it, a two-story building holds four two-bedroom, one-bath apartments, along with a shared laundry room, carport parking, and storage lockers. The residence was built in 1954; reported improvements include roof replacement, electrical wiring and panel upgrades, and reconstruction of the rear stairs.
The property is near Montrose Shopping Park on Honolulu Avenue and Trader Joe's, with access to the 210 and 2 freeways nearby.
The property is near Montrose Shopping Park on Honolulu Avenue and Trader Joe's, with access to the 210 and 2 freeways nearby.
Key Highlights
- Six apartments totaling 6,740 square feet on a 13,737‑square‑foot parcel
- Two buildings: a three‑bedroom, 3.5‑bath residence, one two‑bedroom apartment, and four additional two‑bedroom apartments
- Rear building includes a laundry room, carport parking, and storage lockers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,452
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,169,040
$2.2M
Cap Rate 7%
$1,549,314
$1.5M
Cap Rate 9%
$1,205,022
$1.2M
Market Conditions
NOI Build-Up for 6,740 SF
Gross rent
$214.3K $31.80/SF
− Vacancy
−$17.1K −$2.54/SF
EGI
$197.2K $29.26/SF
− OpEx
−$88.7K −$13.17/SF
NOI
$108.5K $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 Rate 5%
$2,169,040
Cap Rate 7%
$1,549,314
Cap Rate 9%
$1,205,022
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,452 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,600 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 91020, CA
8,439
Population
3,501
Households
2.4
Avg Household Size
42
Median Age
51%
College-Educated
91%
High-School Grad
0.7 sq mi
ZIP Area
12,056
Density / Sq Mi
$60,899
Median Household Income
$59,838
Median Earnings
$2,258
Median Rent
$880,700
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
Frequently Asked Questions
What type of property is this?
Apartment building - Two separate residential buildings include a renovated owner's residence and five additional apartments.
Where is this apartment building located?
The property is located at 2404 Montrose Avenue Montrose, CA.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Six apartments totaling 6,740 square feet on a 13,737‑square‑foot parcel; Two buildings: a three‑bedroom, 3.5‑bath residence, one two‑bedroom apartment, and four additional two‑bedroom apartments; Rear building includes a laundry room, carport parking, and storage lockers
