Montebello, CA 90640,241 E Fremont
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Montebello, CA 90640,241 E Fremont
Montebello, CA 90640,241 E Fremont
Montebello, CA 90640,241 E Fremont
Montebello, CA 90640,241 E Fremont

$3,800,000

Est. payment /mo

$4,198,000

9.5%
Est.Price: ?

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241 E Fremont Montebello, CA 90640

9,912 SqFt

SOLD DATE : 07/15/2024

Key Details

Sold Price $3,800,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 9,912 sqft

Price per Sqft $383

MLS Listing ID CV24033541

Sold Date 07/15/24

HOA Y/N No

Year Built 1958

Lot Size 0.499 Acres

Property Description

We are pleased to exclusively present the opportunity to acquire 241 East Fremont Square, a 16-unit multifamily investment property in the city of Montebello, California. Surrounded by single family residences, the apartment is located in a cul-de-sac within a quiet suburban neighborhood next to the Rio Hondo Bike Path. Constructed in 1958, the apartment sits on an over 0.49 acres (21,717 square feet) parcel with a total building area of 9,912 square feet. The property consists of sixteen one-bedroom/one-bathroom floor plans with an average of 620 square feet per unit. Each unit features either a patio (ground floor units) or a balcony (second floor units), gated front doors, floor to ceiling sliding patio doors, and wall-unit air conditioning. The apartment complex offers its residents with a swimming pool surrounded by lush landscaping, on-site laundry room with three washers and two dryers, two electric gated parking entrances, and sixteen open parking spaces. All units are individually metered for gas and electricity and have separate hot water heaters.
The property is conveniently surrounded by multiple major thoroughfares within Southern California including CA-60, CA-19, I-5, and I-605, providing easy access for commuters west to Downtown Los Angeles, north to San Gabriel Valley, and east to cities in the Inland Empire. For residents taking public transportation, the closest bus line is a 10-minute walk and the Montebello/Commerce Metrolink Station is just an 8-minute drive away. With a very walkable score of 71, this multifamily property is within walking distance of several outdoor recreational areas using the Rio Hondo Bike Path including the Rio Hondo Park, Montebello Barnyard Zoo, and the Whittier Narrows Reservoir. In addition, several major shopping centers are within a three-mile radius of the subject property including Village Walk shopping center, Mart of Montebello, Montebello Town Square, and The Shops at Montebello. This section of Montebello boasts ideal demographics as there are more than 579,000 within a 5-mile radius, with an average household income exceeding $89,000 within a 3-mile radius.

Location

State CA

County Los Angeles

Area 674 - Montebello

Zoning MNR3YY

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Fireplace No

Laundry Common Area

Exterior

Pool Community

Community Features Sidewalks, Pool

Private Pool No

Building

Lot Description Cul-De-Sac

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 6347008015

Energy Description 4225.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by David Covarrubias • MARCUS & MILLICHAP • 626-319-2479
Bought with David Covarrubias • MARCUS & MILLICHAP

Jacqueline Screeton

Agent | License ID: 01858560

+1(949) 395-4732

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