Thank you
David Covarrubias
MARCUS & MILLICHAP
909-456-3400
We are pleased to exclusively present the opportunity to acquire 241 East Fremont Square, a 16-unit multifamily investment property in the city of Montebello, California. Surrounded by single family residences, the apartment is located in a cul-de-sac within a quiet suburban neighborhood next to the Rio Hondo Bike Path. Constructed in 1958, the apartment sits on an over 0.49 acres (21,717 square feet) parcel with a total building area of 9,912 square feet. The property consists of sixteen one-bedroom/one-bathroom floor plans with an average of 620 square feet per unit. Each unit features either a patio (ground floor units) or a balcony (second floor units), gated front doors, floor to ceiling sliding patio doors, and wall-unit air conditioning. The apartment complex offers its residents with a swimming pool surrounded by lush landscaping, on-site laundry room with three washers and two dryers, two electric gated parking entrances, and sixteen open parking spaces. All units are individually metered for gas and electricity and have separate hot water heaters. The property is conveniently surrounded by multiple major thoroughfares within Southern California including CA-60, CA-19, I-5, and I-605, providing easy access for commuters west to Downtown Los Angeles, north to San Gabriel Valley, and east to cities in the Inland Empire. For residents taking public transportation, the closest bus line is a 10-minute walk and the Montebello/Commerce Metrolink Station is just an 8-minute drive away. With a very walkable score of 71, this multifamily property is within walking distance of several outdoor recreational areas using the Rio Hondo Bike Path including the Rio Hondo Park, Montebello Barnyard Zoo, and the Whittier Narrows Reservoir. In addition, several major shopping centers are within a three-mile radius of the subject property including Village Walk shopping center, Mart of Montebello, Montebello Town Square, and The Shops at Montebello. This section of Montebello boasts ideal demographics as there are more than 579,000 within a 5-mile radius, with an average household income exceeding $89,000 within a 3-mile radius.
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Water Source : Public
Sewer : Public Sewer
Year Built: 1958
Building Area Total: 9,912
Community
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.4986
Lot Size Source: Assessor
Lot Size Square Feet: 21717
Original List Price: 4,198,000
Listing Contract Date: 2024-02-16
Listing Agreement: Exclusive Right To Sell
Parcel Number: 6347008015
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 674 - Montebello
Postal Code Plus 4: 4858
Directions: South side of the E Fremont Cul-de-sac
Zoning: MNR3YY
Source Property Type: Residential Income
Area: 674 - Montebello
Property SubType: Mixed Use
Property Age: 66
Common Walls: 2+ Common Walls
Structure Type: Mixed Use
Year Built Source: Other
Entry Level: 1
Entry Location: front
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
524 Washington Boulevard, Montebello, CA,90640 | $3,498,000 | -- | -- | -- | 22919 Sqft |
824 W Ashiya Road, Montebello, CA,90640 | $840,000 | 3 | 3 | 1,875 | 6354 Sqft |
1301 S Greenwood Avenue.., Montebello, CA,90640 | $500,000 | 2 | 2 | 835 | 97514 Sqft |
832 Frankel Avenue, Montebello, CA,90640 | $748,888 | 3 | 2 | 1,301 | 5755 Sqft |
2322 2320 W Whittier Bo.., Montebello, CA,90640 | $1,188,800 | -- | -- | 1,620 | 7586 Sqft |
425 Mullberry Place, Montebello, CA,90640 | $819,990 | 2 | 2 | 1,448 | -- |
2222 W Olympic Boulevard, Montebello, CA,90640 | $569,000 | 2 | -- | 988 | 2491 Sqft |
833 Findlay Avenue, Montebello, CA,90640 | $924,500 | 3 | 2 | 1,568 | 5047 Sqft |
836 Findlay Ave, Montebello, CA,90640 | $750,000 | 3 | 1 | 1,147 | 4798 Sqft |
1705 Neil Armstrong Str.., Montebello, CA,90640 | $475,000 | 2 | 1 | 970 | 400752 Sqft |
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ByOwner last updated this listing 04/30/2024 @ 05:17
MLS: CV24033541
LISTED BY: David Covarrubias, MARCUS & MILLICHAP
SOURCE: CRMLS
Buyer Agency Compensation: 1.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.