We’re excited to announce the successful sale of this family-owned and operated apartment complex in North Montebello—offered for the first time in 15 years. The property featured all 2-bedroom, 1-bathroom units with garage parking, an on-site laundry room with owner-owned machines, and strong in-place rents. Recent upgrades included full copper plumbing, updated electrical panels, and new vinyl windows—making it a low-maintenance, high-potential asset for the buyer. With a 12.30 GRM and a 5.47% cap rate based on current rents, this opportunity attracted multiple offers and sold quickly. Located within walking distance to shops and restaurants along Whittier Blvd and offering convenient access to the 5, 60, and 605 Freeways, it’s no surprise this one didn’t last. The property is subject only to California’s AB1482 statewide rent control, with no local rent restrictions.

Transaction Highlights

• Another Record Sale by Shant Sherbetdjian | Highest Price Per Unit Sold in Rosemead (Pre 2000s Construction 5+ Units)
• Successfully Closed Escrow at $383,333 Per Unit! Delivered a Record Price for Similar Unit Type li>
• Shant Sherbetdjian’s Team Conducted an Aggressive Marketing Campaign & Presented the Seller with Multiple Offers to Choose From!
• One Unit was Delivered Vacant at Close of Escrow Allowing the Buyer to Rent at the Market Rate Immediately
• The Draconian Rent Control Laws of California Did Not Deter Shant Sherbetdjian from Delivering a Successful Close
• Even with the Strict Rent Control Direction, the Buyer was able to see the Quality of this Asset Given its Location, Architecture and Charm
• Our Team Worked Hand-in-hand With the Sellers for Preparing Their Books & Records Items in Time for the Buyer's Inspection
• Value Add Investment Affording the Buyer an Opportunity to Increase Rent

Investment Highlights

• Desirable Single Story Cottage Style Detached Homes Located in North Rosemead
• Property Has Been Owned By the Same Family Since 2007 (17 Years!)
• HUGE 33,191 Sq.Ft. Lot | Approx. Lot Dimensions are 380’ x 86’
• Attractive Unit Mix of mostly 2-Bedroom Units | Private Patio & Garage Parking for Each Unit
• Low Owner Expenses | Separate Water Heaters for Each Unit
• Value-Add Opportunity | Realistic Rental Upside of +/- 17% in a High Demand Rental Area
• Walking Distance to Shops & Restaurants on Valley Blvd | San Gabriel Adjacent
• Property is Only Subject to Statewide AB1482 Rent Control (Currently 8.9%)