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$ 6,788,888
Est. payment /mo
New
524 N Poplar AVE Montebello, CA 90640
52 Beds
34 Baths
24,506 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 24,506 sqft
Price per Sqft $277
MLS Listing ID 25628663
Bedrooms 52
HOA Y/N No
Year Built 1963
Property Description
We are pleased to present for sale an exceptional investment opportunity nestled in one of North Montebello's most desirable residential pockets just north of Beverly Blvd this 30-unit multifamily community is being offered for sale for the first time in nearly half a century. Long held, the property presents a rare chance to acquire an asset with substantial rental upside in a consistently strong rental market. The building features an ideal and highly rentable mix of spacious floor plans: four 2-bedroom/2-bath units, eighteen 2-bedroom/1-bath units, and eight 1-bedroom/1-bath units. This property presents an exceptional opportunity for an astute investor to capture meaningful value-add potential, with a realistic rental upside of approximately 38%. The potential to significantly enhance income is both evident and attainable. Residents enjoy convenient on-site amenities including two dedicated laundry rooms along with covered and garage parking, a rare advantage in the neighborhood. The property's location offers exceptional walkability just a short stroll to the restaurants, cafes, and everyday conveniences along Beverly Blvd and Montebello Blvd. Adding to its investment appeal, the property is only subject to statewide AB 1482 and not impacted by local rent control measures, allowing greater flexibility in managing future rent growth. Disclosure: Buyer to conduct any/all due diligence including but not limited to the building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, Soft-Story Compliance, and the ability to construct ADU(s) or additional units. The property is being offered for sale alongside a portfolio totaling (49 Units) with apartments located in Silver Lake, San Gabriel, and Alhambra. Properties can be sold together as a portfolio or individually. DO NOT DISTRUB TENANTS OR WALK ON THE PROEPRTY WITHOUT AN APPOINTMENT WITH THE LISTING OFFICE.
Location
State CA
County Los Angeles
Area 674 - Montebello
Zoning MNR3YY
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Covered
Garage Spaces 2.0
Garage Description 2.0
Total Parking Spaces 34
Building
Entry Level Two,Multi/Split
Level or Stories Two, Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5278027026
Special Listing Condition Standard
Listed by Eric Dilanian Remax Commercial and Investment Realty