Apartment Building with 11 Townhome
For Sale
$2,638,000
500 S 6th St, Montebello, CA 90640
MULTI_FAMILY - Montebello, CA
Property Size10,556 SF
Lot Size0.38 Acres
Price / SF$249.91
Days on Market122
Property Features for 500 S 6th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MNR3YY
Bedrooms
22
Bathrooms
22
Full bathrooms
2
Rooms
Bedroom 9, Bathroom 21, Bathroom 13, Bedroom 13, Bathroom 17, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 11, Bedroom 2, Bathroom 5, Bathroom 4, Bedroom 7, Bedroom 19, Bathroom 3, Bathroom 8, Bathroom 10, Bedroom 18, Bedroom 8, Bedroom 6, Bathroom 14, Bathroom 7, Bathroom 22, Bathroom 15, Bathroom 9, Bedroom 12, Bedroom 17, Bedroom 10, Bedroom 21, Bathroom 1, Bedroom 16, Bedroom 20, Bathroom 16, Bathroom 18, Bathroom 12, Bedroom 3, Bedroom 14, Bathroom 20, Bedroom 15, Bedroom 22, Bathroom 6, Bathroom 19, Bedroom 5, Bathroom 11
Parking
11
Parking features
Covered, Carport
Directions
Situated on South 6th Street between West Walnut Avenue and West Mines Avenue. The nearest major intersection is South Montebello Boulevard and Washington Boulevard.
Subdivision
Montebello
Standard status
Active
APN
6349-022-045
Size
10,556 SF
Lot size
0.38 Acres
Amenities
on-site parking
secured entry
private outdoor spaces in select units
on-site laundry facility
Building Details
Year built
1962
Floors in Building
2
Number of units
11
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Shant Sherbetdjian · License #01713570
(626) 657-8150
Added: Apr 13
Changed: Aug 1
Last Checked: Aug 12 at 10:06AM
MLS# 26698721
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 apartment building contains 11 spacious two-story, townhome-style units, each with 2 bedrooms and 1.5 bathrooms. The property includes an all-electric building on a 16,417 square foot lot, with private outdoor spaces in select units, on-site parking with covered/carport spaces, and a secured entry. An on-site laundry facility is available for tenants, offering a straightforward way to add machines for supplemental revenue.
The property is positioned on a prominent corner location with strong street presence and visibility. It was built in 1962 and is situated on a 0.3769-acre lot, with a total property size of 10,556 square feet. Access to the 60, 605, 710, and 5 freeways supports commuter convenience.
Operational and regulatory context includes that the asset is subject only to AB 1482 and not local rent control. For current performance, it is bringing in a 5.93% cap rate and an 11.10 GRM on current rents, with approximately 39% rental upside. The property is part of a six-property, 47-unit portfolio.
The property is positioned on a prominent corner location with strong street presence and visibility. It was built in 1962 and is situated on a 0.3769-acre lot, with a total property size of 10,556 square feet. Access to the 60, 605, 710, and 5 freeways supports commuter convenience.
Operational and regulatory context includes that the asset is subject only to AB 1482 and not local rent control. For current performance, it is bringing in a 5.93% cap rate and an 11.10 GRM on current rents, with approximately 39% rental upside. The property is part of a six-property, 47-unit portfolio.
Key Highlights
- 11 two‑story, townhome‑style units with 2 bedrooms and 1.5 bathrooms
- All‑electric building on a 16,417 square foot lot at 500 S 6th St
- Corner location with strong street presence and visibility
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
$169,854
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
6.44%
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%
$3,397,080
$3.4M
Cap Rate 7%
$2,426,486
$2.4M
Cap Rate 9%
$1,887,267
$1.9M
Market Conditions
NOI Build-Up for 10,556 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
$335.7K $31.80/SF
− Vacancy
−$26.9K −$2.54/SF
EGI
$308.8K $29.26/SF
− OpEx
−$139.0K −$13.17/SF
NOI
$169.9K $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%
$3,397,080
Cap Rate 7%
$2,426,486
Cap Rate 9%
$1,887,267
Alternative Uses
Best Use
Apartment 5plus
$2.43M
$2.12M – $2.83M
NOI $169,854 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.65M
$4.95M – $6.59M
NOI $395,615 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
673
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 - All-electric apartment building with secured entry, on-site laundry, and covered parking with 11 two-story townhome-style units.
Where is this apartment building located?
The property is located at 500 S 6th St Montebello, CA.
What is the asking price?
The asking price for this property is $2,638,000.
What are key features of this property?
This property features: 11 two‑story, townhome‑style units with 2 bedrooms and 1.5 bathrooms; All‑electric building on a 16,417 square foot lot at 500 S 6th St; Corner location with strong street presence and visibility
