This property, owned by second-generation family members living out of the area, had been a part of their portfolio for over 56 years. With the increasing complexity of managing income properties, especially from a distance, the Sellers wanted to minimize their ownership responsibilities. Furthermore, with the uncertainty surrounding the income property ownership climate, they decided to capitalize on favorable market conditions and sell the asset. By partnering with Shant Sherbetdjian, they were able to navigate the sale successfully and secure an excellent return on their long-held investment.

Transaction Highlights

• First Time on Market in Over 56 Years: The property had never been available for sale since 1968.
• Multiple Offers: Within just the first week of Shant’s strategic marketing campaign, the property attracted multiple offers
• Record Sale: Escrow successfully closed at $76,000 over asking, achieving 108% of the listed price
• Unparalleled Cap Rate & GRM: The property sold at a 1.14% Cap Rate and a 24.62 GRM based on current rents, setting a new record for the area
• Seller’s Market Advantage: The Sellers took advantage of the competitive market, leveraging Shant’s expert guidance to make the most of their long-held investment
• Seamless Process: Shant and his team worked closely with his Sellers to ensure their books and records were in order for the Buyer’s inspections, streamlining the entire transaction

Investment Highlights

• First Time Property is Being Offered For Sale in Over 56 Years!
• Excellent Unit Mix of Oversized 1 Bed 1 Bath Units | 860 +/- Sq.Ft. Each Unit
• Separately Metered for Gas & Electricity | On-Site Garage Parking
• Situated Across the Street from Montebello Intermediate School
• Rental Upside Potential | Opportunity to Add-Value
• Property is Subject to Statewide AB1482 Rent Ordinance
• Monterey Park Adjacent | Property Qualifies for Residential Financing
• Walking Distance to Many Schools, Shops, Restaurants & Dining on Whittier Blvd