$5,600,000
$550K PRICE DROP

862 W Mines Ave Montebello, CA 90640

Estimated payment $35,057/month

Total Views 18,889
48 Beds
32 Baths
19,013 Sq Ft
$295 Price per Sq Ft

Highlights

  • 0.66 Acre Lot
  • 2 Car Attached Garage
  • Central Air

About This Home

5.68% CAP RATE AND 11.02 GRM ON CURRENT RENTS. We are pleased to present a fantastic opportunity in Montebello, 16 Spacious Units built in 1988 consisting of Spacious 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments, averaging approximately 1,188 square feet each. This property is fully occupied and yields a 5.68% Cap Rate and 11.02 GRM on current rents. All units have central A/C & Heat, 2-Garage parking and private patios. This pride of ownership property has undergone many recent capital improvements such as; a new roof (in 2018), full copper plumbing (in 2019), and 11 of the 16 A/C Units were replaced (in the last 3 years). The property also has separate water heaters and is separately metered for gas and electricity. This complex is comprised of eight extra large duplexes on a 28,868 square foot lot zoned MNR3YY. Situated on West Mines Avenue between Greenwood Avenue and South Montebello Boulevard. This property is only subject to the statewide AB1482 rent ordinance (with no local rent control). Units are tenant occupied, interior photos provided.

Listing Agent

Shant Sherbetdjian

Remax Commercial and Investment Realty License #01713570 Listed on: 04/07/2025

Remax Commercial and Investment Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1988

Parking

  • 2 Car Attached Garage

Home Design

  • Split Level Home

Interior Spaces

  • 19,013 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 48 Bedrooms
  • 32 Bathrooms

Additional Features

  • 0.66 Acre Lot
  • Central Air

Listing and Financial Details

  • Assessor Parcel Number 6350-022-059

Community Details

Overview

  • 8 Buildings
  • 16 Units

Building Details

  • Vacancy Allowance $15,241

Property Details

Home Type

Multi-Family

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Living Area: 19013
  • Lot Acreage: 0.6629
  • Stories: 2
  • Year Built: 1988
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 48
  • Total Bathrooms: 32.00
  • Price Per S Q F T: 294.54

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Attached, Garage - 2 Car
  • Total Parking: 32

Utilities

  • Cooling: Central

Lot Info

  • Assessed Improvement Percent: 59.98
  • Assessed Improvement Value: 2209279
  • Assessed Land Percent: 40.02
  • Assessed Land Value: 1474029
  • Total Assessed Value: 3683308
  • Assessor Parcel Number: 6350-022-059
  • Lot Size Area: 28868

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 11.02
  • Number Of Units: 16
  • Type Of Units: 8 Duplexes
  • Vacancy Allow: 15241
  • Vacancy Allow Percent: 3.00

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/23/2025 06/23/25 Price Changed $5,600,000 -8.9% $295 / Sq Ft
04/07/2025 04/07/25 For Sale $6,150,000 +96.7% $323 / Sq Ft
07/08/2014 07/08/14 Sold $3,126,000 -5.1% $164 / Sq Ft View Prior Sale
07/08/2014 07/08/14 Pending -- -- --
06/27/2013 06/27/13 For Sale $3,295,000 -- $173 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 25521395

The MLS
California Los Angeles County Montebello 90640

862 W Mines Ave, Montebello, CA

For Sale

MultiFamily

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
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Shant Sherbetdjian
Listing Agent
Shant Sherbetdjian
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Remax Commercial and Investment Realty
(213) 699-3019