252 S 7th ST Montebello, CA 90640
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25152445
HOA Y/N No
Year Built 1915
Lot Size 5,505 Sqft
Property Sub-Type Apartment
Property Description
We're pleased to present this exceptional 6-unit turnkey investment opportunity in the heart of Montebello. All units are renovated 1-bedroom, 1-bathroom apartments that are easy to lease and professionally owned, managed, and operated. The property was fully updated in 2020 and offers reliable, low-maintenance income.
Current rents deliver a strong 5.04% cap rate, and when paired with the assumable low-interest loan, the cash-on-cash return is 4.63%—a compelling return in today's market.
Each unit is individually metered for gas and electricity. Trash and water expenses are offset by a RUBS (Ratio Utility Billing System), reducing landlord costs and maximizing net income.
Located just minutes from Whittier Blvd's shopping and dining options, and with convenient access to the 5, 60, 605, and 710 freeways, this property is ideally situated for both tenants and investors. Subject to AB 1482 rent control. which means (1) An annual rent cap: limited to 5?% + local CPI (Consumer Price Index) or 10?%—whichever is lower. (2) Just-cause eviction protections, after 12 months of tenancy.
Financing: Assumable Loan Opportunity
Take advantage of an existing loan at a fixed 3.28% interest rate through April 30, 2027, with a required down payment of $558,000 and a current loan balance of approximately $1,093,000. Call listing agent for more detail.
Location
State CA
County Los Angeles
Area 674 - Montebello
Zoning MNR3*
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Park
Accessibility None
Total Parking Spaces 6
Private Pool No
Building
Lot Description 11-15 Units/Acre, Street Level
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 6349009026
Energy Description 100.0
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, Fannie Mae
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, Fannie Mae
Special Listing Condition Standard
