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241 Fremont

Montebello, CA 90640

$4,198,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $423 / sqft

1958

calendar_month Built

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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 241 Fremont
City Montebello
State CA
Zip 90640
County Los Angeles
Listing Agent David Covarrubias DRE#01941403
Co-Listing Agent Douglas McCauley DRE#01155706
Courtesy Of MARCUS & MILLICHAP
MLS CV24033541
List Price $4,198,000
Status Active
Type Residential Income
Subtype Commercial/Residential
Structure Size N/A
Lot Size 21,717
Year Built 1958
DOM 41

Exterior Information

Maps

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Listing information courtesy of: David Covarrubias, Douglas McCauley, MARCUS & MILLICHAP . *Based on information from the Association of REALTORS/Multiple Listing as of Mar 27th, 2024 at 2:13 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.