CA > Montebello
Montebello, CA 90640,919 Carob Way
Montebello, CA 90640,919 Carob Way
Montebello, CA 90640,919 Carob Way
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Danielle Broad

Danielle Broad

+1(925) 383-9200
$3,295,000
Est. payment /mo
8,334 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 8,334 sqft

Price per Sqft $395

MLS Listing ID CL25519241

HOA Y/N No

Year Built 1958

Lot Size 0.374 Acres

Acres 0.37

Property Sub-Type Other

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 cit

Location

State CA

County Los Angeles

Zoning MNR3

Interior

Fireplace No

Laundry Laundry Room

Building

New Construction No

Others

Tax ID 6352028006

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Bridge MLS
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Shant Sherbetdjian • Remax Commercial and Investment Realty
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+1(925) 383-9200

smiles4dee@gmail.com

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