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Multi-Family Property in Montebello, CA

328 N 2nd St, Montebello, CA 90640

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For Sale

Under Contract

$2,150,000

MULTI_FAMILY - Montebello, CA

Property size:

7,559 SF

Lot size:

0.33 Acres

Price / SF:

$284/SF

HighLights

Significant value‑add potential with projected 75% rental upside.
Rare opportunity to acquire a generational asset in a highly desirable North Montebello location.
Minimal rent control constraints (subject only to AB 1482).
Spacious 2‑bedroom, 1‑bathroom units averaging nearly 900 square feet.
Each unit includes garage parking, laundry hookups, and private rear entrances.
Potential for addition of multiple ADUs (buyer to verify).

We can help!

Listing Contact

Shant Sherbetdjian

For Sale

Under Contract

$2,150,000

MULTI_FAMILY - Montebello, CA

Property size:

7,559 SF

Lot size:

0.33 Acres

Price / SF:

$284/SF

Added:: Apr 21, 2026
Days on Market:: 55
Last Refresh:: Jun 14 at 7:06 pm

Property Features for 328 N 2nd St

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: MNR3YY
Bedrooms: 16
Bathrooms: 8
Rooms: Bedroom 7, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 13, Bathroom 3, Bedroom 14, Bathroom 7, Bedroom 8, Bathroom 8, Bathroom 6, Bedroom 3, Bedroom 6, Bedroom 5, Bathroom 4, Bathroom 5, Bedroom 11, Bedroom 9, Bedroom 4, Bedroom 12, Bedroom 15, Bedroom 16, Bathroom 2, Bedroom 10
Parking: 8
Parking features: Garage
Standard status: Active Under Contract
APN: 6346-006-004
Size: 7,559 SF
Lot size: 0.33 Acres

Utilities

Cooling system: Wall Unit(s)

Building Details

Year built: 1947
Floors in Building: 2
Number of units: 8

We can help!

Listing Contact

Shant Sherbetdjian

Listing agent Shant Sherbetdjian License #01713570

Listing office Remax Commercial and Investment Realty 99 S Lake Ave., Torrance, CA

Listing date Apr 21, 2026

MLS# 26748163 Listing URL

HighLights

Significant value‑add potential with projected 75% rental upside.
Rare opportunity to acquire a generational asset in a highly desirable North Montebello location.
Minimal rent control constraints (subject only to AB 1482).
Spacious 2‑bedroom, 1‑bathroom units averaging nearly 900 square feet.
Each unit includes garage parking, laundry hookups, and private rear entrances.
Potential for addition of multiple ADUs (buyer to verify).

Overview

This multi-family property, available for the first time in over 50 years, is located in the North Montebello submarket. The property features spacious 2-bedroom, 1-bathroom units averaging nearly 900 square feet each. Each unit includes garage parking, laundry hookups, and private rear entrances. Key infrastructure improvements have been made, including an updated main electrical panel. There is potential for the addition of multiple ADUs, subject to buyer verification. The property offers value-add potential, with projected rental upside of approximately 75%, allowing for strategic renovation and repositioning to capture higher market rents. The location provides convenient access to retail and dining along Beverly Blvd. The property is subject to California's AB 1482 ordinance and not governed by any local rent control. The lot size is 0.3317 acres. The property size is 7559 square feet. The property is zoned MNR3YY. It is located in Los Angeles County.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$240.4k	$31.80
− Vacancy	−$19.2k	−$2.54
EGI	$221.1k	$29.26
− OpEx	−$99.5k	−$13.17
NOI	$121.6k	$16.09

7,559 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.74M

$1.52M – $2.03M (±1% cap)

NOI $121,630 @ 7.0% cap · market cap 5.66%

Second Best

—

no second resolved use

Theoretical Best

Office A

$4.05M

$3.54M – $4.72M (±1% cap)

NOI $283,294 @ 7.0% cap · market cap 13.18%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Montebello
County: Los Angeles
State: California
Longitude: -118.100066
Latitude: 34.013477

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For sale
Apartment buildings
CA
Montebello
90640
328 N 2nd St

What type of property is this?

Apartment building - Multi-family property with value-add potential in a desirable location.

Where is this apartment building located?

The property is located at 328 N 2nd St Montebello, CA.

What is the asking price?

The asking price for this property is $2,150,000.

What are key features of this property?

This property features: Significant value‑add potential with projected 75% rental upside.; Rare opportunity to acquire a generational asset in a highly desirable North Montebello location.; Minimal rent control constraints (subject only to AB 1482).

328 N 2nd St, Montebello, CA 90640

MULTI_FAMILY - Montebello, CA

Property Features for 328 N 2nd St

General Information

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Montebello Multifamily Townhome-Style Units

Remodeled Triplex with ADU

Montebello Fourplex: Investment Opportunity

Montebello Multifamily Investment Opportunity

Industrial Flex Buildings with Fenced Yards

Sports Bar Restaurant Business Opportunity

Liquor Store Business & Real Estate

Freestanding Restaurant with Development Potential

Standalone Food Service Retail Building

Montebello Retail Business Opportunity

Montebello Mixed-Use Retail Plaza

Montebello Corner Commercial Building

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