135 E Avenue 40

    Montecito Heights, CA 90031
    • $3,500,000
    • STATUS: Active
    • ON SITE: 109 days
    • ID#: MB19279008
    UPDATED: 59 min ago
    $3,500,000
    • 0
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,452
      SQFT
    • $370
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    INCOME HAS BEEN UPDATED Two separate eight unit Apartment Buildings for sale that are back to back on two different streets, 135 E. Avenue 40 and 136 E. Avenue 41, owner would prefer to sell both buildings together. Owner may consider selling them separately,. The Listed Price is for both buildings. Each building has (4) 2 Bedroom, 1 Bath units and (4) 1 Bedroom, 1 Bath Units. Each Building has 8 parking spots, one for each unit. The Roofs are newer with 18 year warranties on both buildings. The Exteriors of both buildings have been recently painted. Driveways and Parking Spots have just been resurfaced. Wrought Iron has been repaired and painted. All work has been fully permitted by the city. Each Building has 4726 sq. ft. and the lots approximately 7500 each. Both buildings are always rented and currently have long term tenants. Sellers Choice of Escrow and Title Service Providers. Buyers must agree to cooperate in Sellers 1031 Tax Deferred Exchange IF SELLER DECIDES TO EXCHANGE and to close escrow concurrently. Income and Expenses listed are for both buildings ESTIMATED. ONE 2BD VACANT... upside approx 100K/yr

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-29T13:27:42.937. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Go Gabby | RE/MAX Estate Properties. Licensed in the State of California, USA.

    www.gogabby.com/homes/101639335

    135 E Avenue 40 Montecito Heights, CA 90031

    • Price: $3,500,000
    • Status: Active
    • Updated: 59 min ago
    • ID#: MB19279008
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    9,452
    SQFT
    $370
    $/SQFT
    1963
    Built
    Neighborhood:
    679 - Montecito Heights
    County:
    Los Angeles
    Area:
    679 - Montecito Heights
    Property Description
    INCOME HAS BEEN UPDATED Two separate eight unit Apartment Buildings for sale that are back to back on two different streets, 135 E. Avenue 40 and 136 E. Avenue 41, owner would prefer to sell both buildings together. Owner may consider selling them separately,. The Listed Price is for both buildings. Each building has (4) 2 Bedroom, 1 Bath units and (4) 1 Bedroom, 1 Bath Units. Each Building has 8 parking spots, one for each unit. The Roofs are newer with 18 year warranties on both buildings. The Exteriors of both buildings have been recently painted. Driveways and Parking Spots have just been resurfaced. Wrought Iron has been repaired and painted. All work has been fully permitted by the city. Each Building has 4726 sq. ft. and the lots approximately 7500 each. Both buildings are always rented and currently have long term tenants. Sellers Choice of Escrow and Title Service Providers. Buyers must agree to cooperate in Sellers 1031 Tax Deferred Exchange IF SELLER DECIDES TO EXCHANGE and to close escrow concurrently. Income and Expenses listed are for both buildings ESTIMATED. ONE 2BD VACANT... upside approx 100K/yr
    Exterior Features

    Garage Spaces 0.00 Lot Features Back YardLawnLot 6500-9999Rectangular LotLevel Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 16.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Common AreaCommunityIndividual RoomOutside Levels Two

    Property Features

    Additional Parcels Description 545100701054510070 Additional Parcels YN Yes Building Area Units Square Feet Cap Rate 3.65 Community Features CurbsGuttersSidewalksStreet LightsSuburban Country Us Electric Expense 7800.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 2122456.00 Gross Multiplier 16.50 Gross Operating Income 209082.00 Gross Scheduled Income 212456.00 Insurance Expense 8862.00 Land Lease YN No Laundry YN Yes Net Operating Income 127810.00 New Construction YN No New Taxes Expense 51600.00 Number Of Separate Electric Meters 9 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Operating Expense 81272.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Actual Rent 16628.00 Total Expenses 81272.00 Trash Expense 3612.00 Vacancy Allowance 3374 Water Sewer Expense 7800.00 Water Source Public Year Built Source Assessor Zoning Lard2

    Listing provided courtesy of Felipe Acuna of Century 21 Realty Masters


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-29T13:27:42.937. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Go Gabby | RE/MAX Estate Properties. Licensed in the State of California, USA.

     
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