Multi-Family Property in Montebello,
For Sale
Under Contract
$2,150,000
328 N 2nd St, Montebello, CA 90640
MULTI_FAMILY - Montebello, CA
Property Size7,559 SF
Lot Size0.33 Acres
Price / SF$284.43
Days on Market102
Property Features for 328 N 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MNR3YY
Bedrooms
16
Bathrooms
8
Full bathrooms
1
Rooms
Bedroom 10, Bedroom 4, Bathroom 4, Bathroom 3, Bathroom 5, Bedroom 1, Bedroom 15, Bedroom 14, Bathroom 8, Bedroom 9, Bathroom 2, Bedroom 5, Bedroom 12, Bedroom 3, Bedroom 11, Bedroom 16, Bedroom 8, Bedroom 6, Bathroom 7, Bedroom 2, Bathroom 6, Bedroom 7, Bedroom 13, Bathroom 1
Parking
8
Parking features
Garage
Directions
Situated on North 2nd Street in Montebello, between West Harding Ave and West Madison Ave. The nearest major intersection of East Beverly Blvd and North Poplar Ave.
Subdivision
Montebello
Standard status
Active Under Contract
APN
6346-006-004
Size
7,559 SF
Lot size
0.33 Acres
Utilities
Cooling system
Wall Unit(s)
Amenities
garage parking
laundry hookups
private rear entrances
Building Details
Year built
1947
Floors in Building
2
Number of units
8
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Shant Sherbetdjian · License #01713570
(626) 657-8150
Added: Apr 21
Changed: Jul 28
Last Checked: Jul 31 at 11:06AM
MLS# 26748163
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
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.
Key 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).
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 | $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
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
NOI $283,294 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 90640, CA
62,678
Population
20,438
Households
3.1
Avg Household Size
38
Median Age
22%
College-Educated
74%
High-School Grad
8.3 sq mi
ZIP Area
7,552
Density / Sq Mi
$74,833
Median Household Income
$37,983
Median Earnings
$1,771
Median Rent
$660,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
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).
