About 862 W Mines Avenue
5.68% CAP RATE AND 11.02 GRM ON CURRENT RENTS. We are pleased to present a fantastic opportunity in Montebello, 16 Spacious Units built in 1988 consisting of Spacious 3 Bedroom + 1.5 Bathroom Two-Story Townhome Style Apartments, averaging approximately 1,188 square feet each. This property is fully occupied and yields a 5.68% Cap Rate and 11.02 GRM on current rents. All units have central A/C & Heat, 2-Garage parking and private patios. This pride of ownership property has undergone many recent capital improvements such as; a new roof (in 2018), full copper plumbing (in 2019), and 11 of the 16 A/C Units were replaced (in the last 3 years). The property also has separate water heaters and is separately metered for gas and electricity. This complex is comprised of eight extra large duplexes on a 28,868 square foot lot zoned MNR3YY. Situated on West Mines Avenue between Greenwood Avenue and South Montebello Boulevard. This property is only subject to the statewide AB1482 rent ordinance (with no local rent control). Units are tenant occupied, interior photos provided.
Features of 862 W Mines Avenue
| MLS® # | 25521395 |
|---|---|
| Price | $5,600,000 |
| Sold Price | $5,378,998 |
| Bedrooms | 3 |
| Bathrooms | 1.00 |
| Square Footage | 19,013 |
| Lot Sqft | 28,868 |
| Acres | 0.66 |
| Year Built | 1988 |
| Type | Residential Income |
| Status | Closed |
| # Of Units | 16 |
Community Information
| Address | 862 W Mines Avenue |
|---|---|
| Area | 674 - Montebello |
| City | Montebello |
| County | Los Angeles |
| Zip Code | 90640 |
Amenities
| Parking Spaces | 32 |
|---|---|
| Parking | Door-Multi, Garage |
| Garages | Door-Multi, Garage |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Cooling | Central Air |
|---|---|
| Has Basement | No |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Multi/Split |
Additional Information
| Date Listed | April 7th, 2025 |
|---|---|
| Date Sold | March 18th, 2026 |
| Days on Market | 285 |
| Zoning | MNR3YY |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Shant Sherbetdjian |
|---|---|
| Office | Remax Commercial and Investment Realty |