CA > Montebello
Montebello, CA 90640,919 Carob WAY
Montebello, CA 90640,919 Carob WAY
Montebello, CA 90640,919 Carob WAY
Montebello, CA 90640,919 Carob WAY
Montebello, CA 90640,919 Carob WAY
Montebello, CA 90640,919 Carob WAY
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Ian Michael

Ian Michael

+1(714) 723-1545
$ 3,295,000
Est. payment | /mo

16 Beds

14 Baths

8,334 SqFt

Save
$ 3,295,000
Est. payment | /mo
Save

16 Beds

14 Baths

8,334 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,334 sqft

Price per Sqft $395

MLS Listing ID 25519241

Bedrooms 16

HOA Y/N No

Year Built 1958

Lot Size 0.374 Acres

Property Description

SELLER FINANCING: Seller to carry the 1st trust deed with 35% down payment at a 6.50% interest-only rate fixed for 5 years! We are pleased to present the 919-921 Carob Way Apartments. This is the first time these apartments are being offered for sale in over 22 years. This property has been family owned and operated for two decades. This fantastic apartment complex has an excellent cash flow yielding a 6.59% Cap Rate & 10.34 GRM on Current Rents. This desirable 12 (+1 non-conforming) unit complex is located in a central Montebello neighborhood and situated in a historically low vacancy rental pocket. With an attractive unit mix of spacious 1, 2 & 3-bedroom units, this property offers multiple ADU potential as it is sitting on a large 16,286 square foot R3 zoned lot. The opportunity to legalize the non-conforming unit as an ADU (buyer to verify) and rent increase potential gives the buyer many angles to further increase revenue. The owner owned laundry machines also bring in additional income. Tenants enjoy the convenience of being within a short commute to many shops and restaurants as well as the simplicity of accessing the 5, 60, and 605 freeways. Please note, this property is only subject to the California Statewide AB1482 Rent Ordinance with NO local rent control for this city.

Location

State CA

County Los Angeles

Area 674 - Montebello

Zoning MNR3YY

Interior

Fireplace No

Laundry Laundry Room

Exterior

Parking Features Carport, Uncovered

Carport Spaces 8

Total Parking Spaces 13

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 6352028006

Special Listing Condition Standard

CRMLS – RECore
Listed by Shant Sherbetdjian Remax Commercial and Investment Realty
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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 723-1545

ian@luxurela.com

50 Wilshire Blvd suite 203,, Beverly Hills, California, 9021290212, USA

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919 Carob WAY