919 Carob Way, Montebello, CA 90640
-
Listed Price :
$3,295,000
-
Beds :
16
-
Baths :
14
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Property Size :
8,334 sqft
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Year Built :
1958
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 cashflow yielding a 6.65% Cap Rate and 10.27 GRM. This desirable 12 (+1 non-conforming) unit complex is located in the 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.
Interior Features
| Laundry Information |
| Location(s) |
Laundry Room |
| Bedroom Information |
| Bedrooms |
16 |
| Bathroom Information |
| Bathrooms |
14 |
Listing Information
| Address |
919 Carob Way |
| City |
Montebello |
| State |
CA |
| Zip |
90640 |
| County |
Los Angeles |
| Listing Agent |
Shant Sherbetdjian DRE #01713570 |
| Courtesy Of |
Remax Commercial and Investment Realty |
| List Price |
$3,295,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
8,334 |
| Lot Size |
16,286 |
| Year Built |
1958 |
Listing information courtesy of: Shant Sherbetdjian, Remax Commercial and Investment Realty. *Based on information from the Association of REALTORS/Multiple Listing as of Apr 3rd, 2025 at 5:31 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
