Montebello Multifamily Investment
For Sale
Contact for pricing
620 N Wilcox Ave, Montebello, CA 90640
Rare 17-unit property in a desirable, low-vacancy area.
Property Size18,436 SF
Price / SF$281.95
Days on Market660
Property Features for 620 N Wilcox Ave
General Information
Standard status
Active
Size
18,436 SF
Property subtype
Multifamily
Occupancy
94%
Investment Type
Value Add
Net Operating Income
$361,531
Building Details
Year Built
1964
Stories
3
Units
17
Listing Agency:
ATLAS GROUP - EXP REALTY
Listed By:
Donald La · License #CA 01928418
(626) 824-8853
Source:
Crexi
Added: Nov 13, 2024
Changed: Aug 8
Last Checked: Aug 29 at 10:09AM
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 ATLAS GROUP - EXP REALTY
Investment Insights
Based on property information with market context.
This 17-unit property is located in Montebello, California. The property features units with 2 bedrooms and 2 bathrooms. Each unit is separately metered for electricity and gas. There is a single water meter for the property. On-site laundry units are included in the sale and provide additional income. The property includes 25 parking spaces, with each unit having its own designated spot. Eight extra spaces generate $90 monthly each. The property is gated in both the front and back, with alley access and a remote-controlled gate at the rear. It is located near the 60, 710, and 5 freeways, approximately 1.3 miles from Montebello Country Club and 2.2 miles from Topgolf Montebello. The property size is 18436 square feet.
Key Highlights
- Rare 17‑unit property in a highly sought‑after, low‑vacancy area of Montebello.
- All units are 2‑bedroom, 2‑bathroom, offering consistent and desirable unit types.
- Individually metered for electricity and gas, reducing owner utility expenses.
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
$296,650
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
5.71%
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%
$5,933,000
$5.9M
Cap Rate 7%
$4,237,857
$4.2M
Cap Rate 9%
$3,296,111
$3.3M
Market Conditions
NOI Build-Up for 18,436 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
$586.3K $31.80/SF
− Vacancy
−$46.9K −$2.54/SF
EGI
$539.4K $29.26/SF
− OpEx
−$242.7K −$13.17/SF
NOI
$296.6K $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%
$5,933,000
Cap Rate 7%
$4,237,857
Cap Rate 9%
$3,296,111
Alternative Uses
Best Use
Apartment 5plus
$4.24M
$3.71M – $4.94M
NOI $296,650 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.87M
$8.64M – $11.52M
NOI $690,939 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,091
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 - Rare 17-unit property in a desirable, low-vacancy area.
Where is this apartment building located?
The property is located at 620 N Wilcox Ave Montebello, CA.
What is the asking price?
The asking price for this property is $5,198,000.
What are key features of this property?
This property features: Rare 17‑unit property in a highly sought‑after, low‑vacancy area of Montebello.; All units are 2‑bedroom, 2‑bathroom, offering consistent and desirable unit types.; Individually metered for electricity and gas, reducing owner utility expenses.
