233 7th St Montebello, CA 90640-4846

This exceptional six-unit apartment building presents a compelling investment opportunity in the desirable North Montebello area of Los Angeles County, California. Located at 233 N 7th St, Montebello, CA 90640, this property boasts a desirable unit mix, including four spacious three-bedroom, one-and-three-quarter-bathroom units and two two-bedroom, one-bathroom units. All units are currently occupied, generating a strong cash flow with a 6.11% cap rate and an 11.15 GRM on scheduled rents. The 5,408 square foot building sits on a 7,819 square foot lot and includes six parking spaces and on-site laundry facilities. Recent capital improvements have enhanced several units, featuring new paint, windows, flooring, showers, and vanities. Upper-level units feature vaulted ceilings. The property is conveniently located near Whittier Boulevard, offering easy access to numerous shops and restaurants. An assumable Chase loan of $925,000 is available at a fixed 3.41% interest rate until December 2025. The property is subject to the statewide AB1482 rent ordinance, but there is no local rent control. The asking price is $2,338,000, with a price per square foot of $432.32 and a net operating income (NOI) of $145,937. The building was constructed in 1960 and is zoned MNR3YY. This property offers a blend of strong financial performance and attractive features, making it an ideal addition to any investment portfolio.