NOT LISTED FOR SALE

756 N Garfield Ave Montebello, CA 90640

Montebello Area
18 Beds
11 Baths
10,032 Sq Ft
0.34 Acre Lot

Sale Details

Date Sold: April 10, 2014

Last sale price $1,880,000 $187 Per Sq Ft

5 Days on Market

About This Home

As of April 2014

Very convenient location, just across Montebello municipal golf course and walking distance to shopping malls. 1 unit 3 bed 2.5 bath, 6 units 2 bed 1.5 bath, and 6 units 1 bed 1 bath. Every unit has a two car garage. Separate electric and gas meters plus laundry income. Stable tenants. Fully occupied and well maintained. Rents are below market with great upside potential. Near supermarkets, shopping, schools, banks, public transportation, entertainments, and much more. Easy access to Freeway 60 and only 15 minutes to Downtown LA. City of Montebello is a high demand rental area. Information deemed reliable but not guaranteed.

Last Agent to Sell the Property

Hubert King

Treeline Realty & Investment License #00553474 Listed on: 02/05/2014

Last Buyer's Agent

Doresa Wang

Pinnacle Real Estate Group License #01523172

Pinnacle Real Estate Group
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 14,922 Sq Ft Lot
  • Two or More Common Walls
  • Density is 36-40 Units/Acre

Parking

  • 26 Car Garage

Home Design

  • 10,032 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 11 Bathrooms

Additional Features

  • Exterior Lighting
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 24771
  • Assessor Parcel Number 5268029012

Community Details

Overview

  • 2 Buildings
  • 13 Units

Building Details

  • 13 Leased Units
  • 15 Separate Electric Meters
  • 15 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,277
  • Gardener Expense $915
  • Insurance Expense $3,069
  • Trash Expense $4,790
  • Water Sewer Expense $5,500
  • New Taxes Expense $26,130
  • Gross Income $11,950
  • Net Operating Income $99,806

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

0.34 Acres

Parking

26

Listing Details

  • CapRate: 5.12
  • Property Attached: Yes
  • Water Sewer Expenses: 5500.00
  • Property Type: Residential Income
  • Gardener Expense: 915.00
  • Parcel Number: 5268029012
  • Year Built: 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 187.40

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 26.00
  • Total Parking Spaces: 26.00

Utilities

  • Sewer: Unknown
  • Trash Expense: 4790.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Street Lights

Lot Info

  • Lot Features: 36-40 Units/Acre
  • Lot Size Sq Ft: 14922.00
  • Lot Size Acres: 0.3430

Multi Family

  • Electric Expense: 1277.00
  • Gross Income: 11950.00
  • Gross Scheduled Income: 147000.00
  • Insurance Expense: 3069.00
  • Lot Size Area: 14922.0000 Square Feet
  • Net Operating Income: 99806.00
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 13
  • Number Of Units Total: 13
  • Operating Expense: 44326.00
  • Rent Control: No
  • Total Actual Rent: 11950.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 26130.00
  • Tax Lot: 1
  • Tax Tract Number: 24771

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 5, 2014
Closed on
Mar 12, 2014
Sold by
Bought by
Seller's Agent
Hubert King
Treeline Realty & Investment
Buyer's Agent
Doresa Wang
Pinnacle Real Estate Group
List Price
$1,950,000
Sold Price
$1,880,000
Premium/Discount to List
-$70,000
-3.59%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,222,000
Interest Rate
4.32%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 20, 2003
Sold by
Bought by

Purchase Details

Closed on
Nov 15, 1995
Sold by
Bought by

Purchase Details

Closed on
Oct 19, 1995
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,880,000 Lawyers Title
-- --
-- --
-- --
$600,000 First American Title Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,200,000
Closed $1,222,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
04/10/2014 04/10/14 Sold $1,880,000 -3.6% $187 / Sq Ft
02/10/2014 02/10/14 Pending -- -- --
02/05/2014 02/05/14 For Sale $1,950,000 -- $194 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $34,029 $2,304,614 $710,996 $1,593,618
2024 $33,530 $2,259,426 $697,055 $1,562,371
2023 $33,489 $2,215,125 $683,388 $1,531,737
2022 $32,402 $2,171,692 $669,989 $1,501,703
2021 $31,324 $2,129,110 $656,852 $1,472,258
2019 $30,151 $2,066,961 $637,370 $1,429,591
2018 $30,625 $2,026,453 $624,873 $1,401,580
2016 $29,223 $1,946,804 $600,609 $1,346,195
2015 $27,626 $1,917,562 $591,588 $1,325,974
2014 -- $813,103 $203,271 $609,832
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR14025090

California Regional Multiple Listing Service (CRMLS)
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