241 East Fremont Square

241 East Fremont Square

Montebello, CA 90640

$4,198,000
Price
1
Beds
16
Baths
9,912 Sq. Ft.
$424 / Sq. Ft.
9,912
Sq. Ft.
$424
per Sq. Ft.
a car parked in front of a building
an aerial view of a swimming pool and outdoor seating
an aerial view of multiple house

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...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.
  1. Listed by David Covarrubias • DRE #01941403 • Brokerage DRE #00530854 • MARCUS & MILLICHAP • 626-319-2479
  2. Listed by Douglas McCauley • DRE #01155706 • Brokerage DRE #00530854 • MARCUS & MILLICHAP

Property Details for 241 East Fremont Square

Parking Spaces Total
0
Private Pool
No
Total Units
16.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
9912
Assessor Parcel Number
6347-008-015
Property Attached YN
true

Location

Listing Courtesy of MARCUS & MILLICHAP, David Covarrubias, DRE #01941403; MARCUS & MILLICHAP, Douglas McCauley, DRE #01155706
Add your commute
LISTING UPDATED: 03/27/2024 07:13 AM

Property Details for 241 East Fremont Square

StatusActive
MLS #CV24033541
Days on Market81
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1958
Lot Size0.50 AC / 21,717 SF
CountyLos Angeles County

Location

Listing Courtesy of MARCUS & MILLICHAP, David Covarrubias, DRE #01941403; MARCUS & MILLICHAP, Douglas McCauley, DRE #01155706
Add your commute

Building Information for 241 East Fremont Square

Stories2Residences-Year Built1958Building Size-Lot Size0.50 AC / 21,717 SF

Payment Calculator

$24,547 per month

30 year fixed, 7.25% Interest

Principal and Interest

$22,910

Property Taxes

$1,637

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 241 East Fremont Square

Income / Expense / Tax Details
Income Details
  • Gross Income: $292,754
  • Gross Scheduled Income: $298,200
  • Vacancy Allowance: 8946
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $292,754
  • Net Operating Income: $171,844
  • Laundry Income: $3,500
Expense Details
  • Operating Expense: $120,910
  • New Taxes Expense: $56,000
  • Gardener Expense: $1,500
  • Fuel Expense: $4,225
  • Pool Expense: $4,200
  • Electric Expense: $4,225
  • Insurance Expense: $7,000
  • Maintenance Expense: $14,910
  • Professional Management Expense: $20,400
  • Trash Expense: $4,225
  • Water Sewer Expense: $4,225
  • Total Expenses: $120,910
Tax / Assessment Info
  • Tax Tract Number: 24004
  • Tax Census Tract: 5301.01
  • Tax Lot: 6
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: front
  • Pool Features: Community
Land/Lot Info
  • Lot Features: Cul-De-Sac
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,553
  • Unit Type Total Rent: $24,850
  • Unit Type Pro Forma: 1700
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 17
  • Number Of Separate Gas Meters: 17
  • Number Of Separate Water Meters: 1

Property History for 241 East Fremont Square

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 241 East Fremont Square

Taxable ValueLand$82,445Additions$257,158Total$339,603
Tax Record2023$19,644 ($1,637 / month)
Home Facts
Total Finished SqFt9,912 SqFtAbove Grade Finished SqFt9,912 SqFtLot Size21,717 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningMNR3YYCountyLOS ANGELESAPN6347-008-015

Schools near 241 East Fremont Square

This home is within Montebello Unified School District.
Rating
School
Type
Grades
Distance
Fremont Elementary School
Public - K to 5
La Merced Intermediate School
Public - 6 to 8
Montebello High School
Public - 9 to 12
Applied Technology Center
Public - 9 to 12
Rating
School
Distance
Fremont Elementary School
PublicK to 5

La Merced Intermediate School
Public6 to 8

Montebello High School
Public9 to 12

Applied Technology Center
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 241 East Fremont Square, Montebello, CA 90640

241 East Fremont Square is a mixed use property for sale in Montebello, CA 90640. This property was listed for sale on February 16, 2024 by MARCUS & MILLICHAP, it's currently listed at $4,198,000. This listing's school district is Montebello Unified School District. Nearby schools include Fremont Elementary School, La Merced Intermediate School and Montebello High School. 241 East Fremont Square is a 1-bed, 16-bath, 9,912 sqft mixed use property built in 1958.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of MARCUS & MILLICHAP, David Covarrubias, DRE #01941403; MARCUS & MILLICHAP, Douglas McCauley, DRE #01155706

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.