233 7th St Montebello, CA 90640-4846
- Apartment buildings
- 5,408 SF
- 0.18 lot acres
Mar 10, 2025
Current Use by Public Records
- Apartment buildings
Property Details for 233 7th St
- Year built
- 1960
- Construction
- WOOD
- Lot size
- 0.18 lot acres
- Property size
- 5,408 SF
- Zone code
- MNR3YY
- Property type
- Apartment buildings
- APN
- 6346-012-022
- APU
- 6346012022
Description
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,450,000
- 6.5%
- $1,340,000
- 7%
- $1,245,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,574,000
Market price range: $740k - $1.76M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,300,000 Current use
- AUTO REPAIR, GARAGE
- $2,500,000 Change: +93% Conversion: Difficult
- MEDICAL BUILDING
- $2,460,000 Change: +89% Conversion: Moderate
- WAREHOUSE, STORAGE
- $1,590,000 Change: +22% Conversion: Difficult
- RETAIL STORES
- $1,555,000 Change: +20% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,470,000 Change: +13% Conversion: Moderate
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Montebello
- County
- Los Angeles
- State
- California
- Longitude
- -118.106
- Latitude
- 34.0129
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
