919 Carob Way, Montebello, CA 90640 - Berkshire Hathaway HomeServices California Properties
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919 Carob Way, Montebello, CA 90640

$3,295,000 Approx. USD 16 beds, 14 baths
8,334 sqft
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Listing Agent


Shant Sherbetdjian | ss@remaxcir.com
Lic#: 01713570
Broker: Courtesy of Remax Commercial and Investment Realty

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 25519241
Price: $3,295,000
Beds: 16
Baths: 14
Built in 1958
8,334 sqft
2 stories
0.37 acres
Lot size: 0.3739
County: Los Angeles
Zoning: MNR3YY
Parking description: Carport,Uncovered
MLS area: 674 - Montebello

Last Updated: 4/9/2025

 Days On Market (DOM): 45

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This listing belongs to the 674 - Montebello MLS area

Lat/Long: 33.994768, -118.114256.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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