328 N 2nd Street,Montebello, CA 90640
Montebello, CA 90640
Description
We are pleased to present for the first time on the market in over 50 years, this exceptional multi-family property represents a rare generational asset opportunity in the highly desirable North Montebello submarket. Widely considered a trophy investment, the property features spacious 2-bedroom, 1-bathroom units averaging nearly 900 square feet each, offering an ideal layout that appeals to a broad tenant base. Each unit is equipped with garage parking, laundry hookups, and private rear entrances, enhancing both functionality and tenant privacy. The property has also seen key infrastructure improvements, including an updated main electrical panel, and offers strong potential for the addition of multiple ADUs (buyer to verify), creating a compelling path for future income growth. From an investment perspective, the asset presents significant value-add potential, with projected rental upside of approximately 75%, allowing investors to strategically renovate and reposition the property to capture higher market rents. Its walkable location provides convenient access to retail and dining along Beverly Blvd, further boosting tenant demand and long-term desirability. Additionally, the property benefits from minimal rent control constraints, as it is subject only to California's AB 1482 ordinance and not governed by any local rent control, offering greater operational flexibility. Altogether, this is a rare opportunity to acquire a well-located, underutilized asset with substantial upside in one of Montebello's most sought-after neighborhoods.
Details
| MLS # | 26748163 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1947 |
| Days On Site | 152 |
| Listing Provided By | Remax Commercial and Investment Realty | Shant Sherbetdjian |
Features
| Bed(s) | 16 |
|---|---|
| Bath(s) | 8 |
| SQ Feet | 7,559 |
| Garage | 8 |
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 1 |
| Zoning | MNR3YY |
| Acreage | 0.33 |
Parking
| Parking Features | Garage |
|---|---|
| Garage Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Montebello |
| Zip Code | 90640 |
| Area | 674 Montebello |
| Listing VS Median (in 90640) | |
Price: $2,150,000 low | high Med: $870,000 sqft: 7,559 low | high Med: 1,726 $ / sqft: $284 low | high Med: $504 On site: 152 low | high Med: 31 | |
Market Activity 90640
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Montebello |
| Zip Code | 90640 |
| Area | 674 Montebello |
| Listing VS Median (in 90640) | |
Price: $2,150,000 low | high Med: $870,000 sqft: 7,559 low | high Med: 1,726 $ / sqft: $284 low | high Med: $504 On site: 152 low | high Med: 31 | |
 | $2,850,000413 W WhittierMontebello, CA 90640 |