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5819 Montebello Park Way East Los Angeles, CA 90022
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Key Details
Sold Price $850,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR22102411
Bedrooms 3
Property Sub-Type Res Income 2-4 Units
Property Description
Investment Highlights Excellent 5-unit Value-Add Investment Opportunity with Tremendous Rental Upside (60%) and Enormous Renovation Potential conveniently located near retail/employment corridors on Whittier and Olympic Boulevards in East LA. (12.4% Proforma Cap rate) Desirable Unit Mix of 3 1b1b units, 1 2b1b unit, and 1 2b2b unit in an area poised for more positive rent growth in the future at an unbeatable price per unit and price per SF in 90022. ($154k per unit, $178/SF; 4,333 SF on a 10,000+ SF lot) Plentiful On-Site Parking: 5 single-car garages. (Extra income to be captured through parking) Potential added income through shared on-site laundry facility or the addition of an ADU Unit. (Buyer to verify) Fully occupied with 100% rent collections throughout the pandemic and relatively minimal utility expenses. Separately metered for electricity and gas. (Owner only pays water and minimal common lighting electricity.) Less than a 10 to 15-minute drive from East LA College, the Citadel Outlets, the Vincent Price Art Museum, Belvedere Park/Lake, the Gold Line. (Atlantic/East LA Civic Center Stations), and the Shops at Montebello shopping mall; only 8 miles from the major employment hub of Downtown LA. Quick, easy access to the 5, 60 and 710 Freeways. Property Highlights Highly desirable single-story layout with Spanish-Style Architecture and unique curb appeal/character; each unit has a unique fireplace and wood-paneled/open-beam ceilings. Copper Plumbing Installed throughout w/separate copper water lines for each unit. (May enable water utility to be split betwe
Location
State CA
County Los Angeles
Zoning Assessor
Exterior
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Bought with Evan Monroe GIG Real Estate Inc.
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