Renovated Six-Unit Apartment
For Sale
$1,148,000
698 W Olympic, Montebello, CA 90640
Six one-bedroom residences received substantial updates in 2020, with a RUBS program in place for water and trash expenses.
Property Size2,304 SF
Price / SF$498.26
Days on Market44
Property Features for 698 W Olympic
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Apartment
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Cap Rate
6.25%
Building Details
Building Size
2,304 SF
Year Built
1915
Year Renovated
2020
Listing Agency:
Pat Swanson
Listed By:
Pat Swanson · License #01382974
(213) 864-2862
Source:
Chrispickettrealestate
Added: Sep 14
Changed: Oct 26
Last Checked: Oct 26 at 3:37PM
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 Pat Swanson
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 698 W Olympic in Montebello, this 2,304-square-foot apartment property contains six one-bedroom, one-bathroom units. The building dates to 1915, and the residences underwent extensive renovation in 2020. A RUBS program addresses water and trash expenses. The property is described as outside local rent control and subject to AB 1482. The stated capitalization rate is 6.25%.
Key Highlights
- Six units, each with one bedroom and one bathroom
- 2,304 square feet; built in 1915
- Extensive renovations completed in 2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,073
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$741,460
$741.5K
Cap Rate 7%
$529,614
$529.6K
Cap Rate 9%
$411,922
$411.9K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$73.3K $31.80/SF
− Vacancy
−$5.9K −$2.54/SF
EGI
$67.4K $29.26/SF
− OpEx
−$30.3K −$13.17/SF
NOI
$37.1K $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 Rate 5%
$741,460
Cap Rate 7%
$529,614
Cap Rate 9%
$411,922
Alternative Uses
Best Use
Apartment 5plus
$529.6K
$463.4K – $617.9K
NOI $37,073 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,349 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,349
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
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom residences received substantial updates in 2020, with a RUBS program in place for water and trash expenses.
Where is this apartment building located?
The property is located at 698 W Olympic Montebello, CA.
What is the asking price?
The asking price for this property is $1,148,000.
What are key features of this property?
This property features: Six units, each with one bedroom and one bathroom; 2,304 square feet; built in 1915; Extensive renovations completed in 2020
