- Value-Add opportunity with many long-time tenants and significant rental upside potential
- Located in Historic East L.A. sub-market of Los Angeles
- Less than 15-minute drive from downtown L.A.
- Low price per unit and HIGH proforma Cap Rate for the area
- Superb location off Whittier Blvd, in between Garfield Avenue and Atlantic Avenue
- Commuter friendly with easy access to FWY’s 5, 710, 60 & 10
- Rapidly gentrifying area of East Los Angeles
- Under-utilized storage space that can potentially generate additional income
- Nearby to USC Medical Center, Kaiser Permanente, Los Angeles Community Hospital & Beverly Hospital
- Conveniently located short distance to a variety of amenities such as: Citadel Outlets, Commerce Casino, Starbucks, Nike Factory, Adidas Outlet, Disney Store, Regency Theaters, Hilton Garden Inn, Double Tree by Hilton and much more.
- Close to schools: East L.A. College (ELAC), Cal State Los Angeles, Joseph Gascon Elementary, Cantwell Sacred Heart of Mary High, Montebello Park Elementary, New Opportunities Charter School & Garfield High
- Attractive curb appeal with Spanish-Style Architecture and new exterior paint throughout
- Low price per unit investment with significant rental upside
- Each unit separately metered for electricity and gas with individual water heater
- Excellent unit mix with easy to maintain singles and 1 bedroom’s
- Inviting entryway with tile flooring in all common areas
- 5 parking garages that can be rented out and provide additional income
The Growth Investment Group is proud to offer 5839 Montebello Park Way, a 14-unit apartment property comprised of one two-story building located in the highly desirable city of Los Angeles, California. This value-add opportunity is perfect for an investor looking to acquire an apartment property and maximize its income potential. Situated in the East Los Angeles sub-market of L.A., the investment maintains excellent proximity to Downtown Los Angeles as well as enjoying the benefits of a rapidly improving area with limited inventory. The property is conveniently located across the street from a major shopping center with regional/national retailers such as Target, El Super, Ross, and it is within minutes to Citadel Outlets. It offers superb access to FWY 5, FWY 60, and FWY 710.
The property has excellent curb-appeal with Spanish style architecture and wide stairs in front that lead into an inviting entryway filled with tile flooring throughout. The property sits on a corner lot facing south-east, on a peaceful residential street walking distance from Whittier Boulevard. Being walking distance to the boulevard there are a variety of nearby amenities such as Target, Rite Aid, El Super, Starbucks, Recency Movie Theater and much more. Nearby to the property are excellent medical options which include LAC+USC Medical Center, Kaiser Permanente, Los Angeles Community Hospital & Beverly Hospital. The property has under-utilized storage/garage space that can potentially generate additional income. None of the units have been extensively upgraded which provides prime opportunity for new ownership to do complete unit upgrades and maximize its income potential.
The property has an attractive entryway complete with original hardwood flooring and 2 skylights for natural light. It offers efficient unit mix of nine (9) 1bedroom+1bathroom and five (5) studio units. Each unit has individual water heater and separately metered for electricity and gas. Property has 5 parking garages in the back that are not assigned to any tenant and can provide additional income. It has a community laundry room in the back.
LOCATION AMENITIES AND ACCESS
The property is located in the prestigious city of Los Angeles with all of its appropriate amenities, suitable dining and fashionable shopping. The property is situated on Montebello Park Way, a quiet residential street walking distance to Whittier Boulevard nestled in between Garfield Avenue and Atlantic Avenue. It’s located in the East Los Angeles sub-market, only a short 15-minute drive from downtown L.A., while enjoying all the benefits of a rapidly gentrifying market. Close by to the property are Citadel Outlets, Commerce Casino, Starbucks, Nike Factory, Adidas Outlet, Disney Store, Regency Theaters, Hilton Garden Inn, Double Tree by Hilton as well as a variety of restaurant and shopping options. While only a short distance from medical facilities, educational facilities, and entertainment venues the investment maintains excellent proximity to many inevitabilities.
One of L.A.’s oldest neighborhoods, East Los Angeles has a lineage of culture that can be found in its shops, businesses, and community. No stranger to change, East L.A. has been the subject of recent transition. While community members have pushed to improve quality of life, they also stand on the front line protecting the neighborhood’s vibrant history and traditions. Quietly sporting some of the best restaurants (by far the best tacos), unique stores, budding businesses, and landmark locations, East L.A. is fundamental to the heritage of Los Angeles.