9-Unit Apartment
For Sale
$1,972,500
428 N Poplar Avenue, Montebello, CA 90640
The property offers a mixed one- and two-bedroom unit configuration with open-space parking and a shared outdoor area.
Property Size3,916 SF
Lot Size0.35 Acres
Days on Market28
Property Features for 428 N Poplar Avenue
General Information
Standard status
Active
Size
3,916 SF
Lot size
0.35 Acres
Property subtype
Apartment
Financials
Asking Price
$1,972,500
Cap Rate
6.85%
Gross Rent Multiplier
10.3
Units
Unit Mix
1 x 2BR/1BA, 8 x 1BR/1BA
Multifamily Units
9
Amenities
open-space parking
common area
Building Details
Building Size
3,916 SF
Year Built
1950
Listing Agency:
RE/MAX 2000 REALTY
(909) 349-0363
Listed By:
Kristopher German · License #01800021
Source:
Archetyperealty
Added: Aug 4
Changed: Aug 22
Last Checked: Aug 30 at 9:52PM
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 RE/MAX 2000 REALTY
Investment Insights
Based on property information with market context.
Located at 428 N Poplar Avenue in Montebello, this 9-unit apartment property was built in 1950 and occupies a 15,072-square-foot lot. The unit mix includes one 2-bedroom/1-bath residence and eight 1-bedroom/1-bath residences. On-site features include open-space parking and a common area for residents. Tenants are responsible for electricity and gas.
The property is positioned just off Beverly Boulevard, near Beverly Hospital, shopping, dining, and major retail. The adjoining 9-unit property at MLS# CV26169898 is also available, offering the option to assemble 18 units across two separate parcels. Current operating metrics include a 6.85% CAP Rate and 10.30 GRM, with projected financials reflecting a 7.24% CAP Rate and 9.90 GRM.
The property is positioned just off Beverly Boulevard, near Beverly Hospital, shopping, dining, and major retail. The adjoining 9-unit property at MLS# CV26169898 is also available, offering the option to assemble 18 units across two separate parcels. Current operating metrics include a 6.85% CAP Rate and 10.30 GRM, with projected financials reflecting a 7.24% CAP Rate and 9.90 GRM.
Key Highlights
- 9‑unit apartment property on a 15,072 sq. ft. lot
- Unit mix includes one 2‑Bedroom/1‑Bath and eight 1‑Bedroom/1‑Bath units
- Built in 1950 with open‑space parking and a common area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,012
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,260,240
$1.3M
Cap Rate 7%
$900,171
$900.2K
Cap Rate 9%
$700,133
$700.1K
Market Conditions
NOI Build-Up for 3,916 SF
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.
Gross rent
$124.5K $31.80/SF
− Vacancy
−$10.0K −$2.54/SF
EGI
$114.6K $29.26/SF
− OpEx
−$51.6K −$13.17/SF
NOI
$63.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,260,240
Cap Rate 7%
$900,171
Cap Rate 9%
$700,133
Alternative Uses
Best Use
Apartment 5plus
$900.2K
$787.7K – $1.05M
NOI $63,012 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.83M – $2.45M
NOI $146,763 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,364
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 - The property offers a mixed one- and two-bedroom unit configuration with open-space parking and a shared outdoor area.
Where is this apartment building located?
The property is located at 428 N Poplar Avenue Montebello, CA.
What is the asking price?
The asking price for this property is $1,972,500.
What are key features of this property?
This property features: 9‑unit apartment property on a 15,072 sq. ft. lot; Unit mix includes one 2‑Bedroom/1‑Bath and eight 1‑Bedroom/1‑Bath units; Built in 1950 with open‑space parking and a common area
