$ 3,295,000
-
$3,295,000
Price -
7
Bed -
5
Bath -
8,334
SqFt
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About the Listing CLW-X7538301 - CLW-X83172
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.
Listing Highlights for 919 Carob Way
Status
Active
Days on Site
157
Property Type
Multi-Family
MLS ®
25519241
Year Built
1958
Total Square Footage
8,334
Lot/Acreage
0.37
County
Los Angeles
Area
674 - Montebello
Interior Details
- Bedrooms: 7
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 13
- Zoning: MNR3YY
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Carport,Uncovered
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 6352028006
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
919 Carob Way Montebello, CA 90640
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