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331 N Montebello Boulevard

Montebello, CA 90640

– beds
– baths
– sqft
~1/2 acre lot
1950 build
– on site

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329-331 North Montebello Boulevard is being offered for sale for the first time in over two decades. It comprises a large House and 10 units on one parcel. It is a generational asset that has been well-maintained and self-managed within the same family during this time. The property consists of one 3bdr/1.75bath house (estimated 1,600 sf), one 2bdr/1.5bath unit, five 2bdr/1bath units, and four 1bdr/1bath units. The total building square footage is 10,479 estimated square feet and the lot size is 19,468 estimated square feet. It is zoned R-3. The house is a single-story building (with a patio) attached, by a garage, to a two-story building which comprises two units (bottom unit has a patio). The bigger two-story building in the back has 8 units. There are 18 parking spaces total: four one-car garages, seven tuck-under spaces, and seven surface spaces. Seismic retrofit for tuck-under parking is not mandated for the city of Montebello. The buildings are of wood & stucco composition and have pitched roofs. There is an on-site washer (replaced in 2024) and dryer owned by the building. Units utilize wall air-conditioning units and forced air for heating. The house uses a 40-gallon water heater, the two units in the front uses a 40-gallon water heater, and the eight units in the back use a 100-gallon water heater. Plumbing is cast-iron/galvanized and electrical panels are likely original. The building is separately metered for gas and electricity. The owner pays for water, sewer, trash and common area electricity and gas. It is desirably located about one block south of Montebello Boulevard and West Beverly Boulevard, which is one of Montebello’s most retail-rich intersections anchored by Vons, Marshalls, Starbucks, and Chase Bank. The asset has an 84 “Walk Score,” which means most errands can be accomplished on foot. The asset is also strategically located with convenient access to the 60, 5, and 605 Freeways. 329-331 North Montebello Boulevard represents a rare opportunity to acquire a generational asset with a large house, attractive and spacious unit mixes, on a sizable R-3 zoned lot, with ample parking. The asset yields strong-in place rental income and future rental upside in a dense, strategically located San Gabriel Valley submarket.

Listed By CRMLS_CA / Andy Chan / Keller Williams Realty / 6263217410

Last checked: Checking… • Last updated Nov 15, 2024 •

MLS# PF24202427 —

The Building

Year Built:

1950
Year Built Source:

Assessor
New Construction:

No
Entry Level:

1
Common Walls:

2+ Common Walls
Building Area Total:

10479.00
Building Area Units:

Square Feet
# of Buildings:

2
Total Number Of Units:

11
Stories Total:

2
# of Separate Gas Meters:

11
# of Separate Water Meters:

1
# of Separate Electric Meters:

11

Interior

Levels:

Two
Entry Location:

Ground
Laundry:

Common Area
Laundry:

1

Location

Directions:

60 Freeway, Exit Paramount toward Montebllo Blvd, Go South past Beverly Blvd two blocks and it is on your right hand side. Main Cross Street is off of Montebello Blvd and Beverly Blvd.
Latitude:

34.01479100
Longitude:

-118.10732700

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

MNR3YY
Lot Features:

0-1 Unit/Acre
Lot Size Area:

19474.0000
Lot Size Acres:

0.4471
Lot Size SqFt:

19474.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

5301.02
Tax Tract:

5301.2
Tax Lot:

124

The Listing

Special Listing Conditions:

Standard
Parcel Number:

6345006008

Heating & Cooling

Heating:

1
Heating:

Forced Air
Cooling:

Yes
Cooling:

Wall/Window Unit(s)

Utilities

Utilities:

Electricity Available, Natural Gas Available, Water Available
Sewer:

Unknown

The Community

Senior Community:

No
Features:

Curbs
Pool:

None
Private Pool:

No

Parking

Parking Spaces:

18.00
Garage Spaces:

4.00
Uncovered Spaces:

7.00
Carport Spaces:

7.00

Extra Units

Average 1 Bed Area:

800
Average 2 Bed Area:

945
Average 3 Bed Area:

1600

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
11/15/24 Nov 15, 2024	Sold	CRMLS_CA	$2,900,000	-10.8%
11/13/24 Nov 13, 2024	Pending	CRMLS_CA	$3,250,000
11/8/24 Nov 8, 2024	Sold Subject To Contingencies	CRMLS_CA	$3,250,000

Multifamily Sold on 11/15/2024

$2,900,000

Listing provided by broker:

Andy Chan

Keller Williams Realty

6263217410

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Listing Courtesy of: CRMLS_CA and Keller Williams Realty. Based on information from California Regional Multiple Listing Service, Inc. as of 22:04 on Nov 27.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

331 N Montebello Boulevard

Montebello, CA 90640