5819 Montebello Park Way

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 between units; buyer to verify) New 25 to 30-year roofing installed on the West end of the property in 2019. Most recent extensive renovations completed 20+ years ago; huge potential to capture value through interior unit upgrades. Extremely close to Schools, Shopping Centers, Grocery Outlets, Restaurants, and Playgrounds. Please call or email Listing Agent for Details or to Submit Offers.