919 Carob Way

Montebello, CA 90640

$3,295,000

List Price

16

bed Beds

14

shower Baths

8,334 sqft

straighten / sqft

1958

calendar_month Built

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.

Listing Information

List Price $3,295,000
Status Active
MLS 25519241
Type Residential Income
Year Built 1958
Lot Size 16,286
Structure Size 8,334
DOM 1
Courtesy Of Remax Commercial and Investment Realty
Listing Agent Shant Sherbetdjian DRE#01713570

Interior Features

Laundry Information
Location(s) Laundry Room
Total Bedroom
Bedrooms 16
Total Bathroom
Bathrooms 14

Maps

home_work Nearby Properties

Listing information courtesy of: Shant Sherbetdjian, Remax Commercial and Investment Realty 626-657-8150. *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.