
Montebello, California 90640
This Multifamily Value-Add Asset represents a High-Potential Investment Opportunity with a List Price of $1,695,000—positioned well below the $2,041,717 Fair Market Value by 16%. This valuation gap provides $346,717 in Instant Equity for incoming owners. With a Fair Condition Rating, the property offers significant upside through the modernization of its six units and bonus studio. Located on a prime corner lot with six parking spaces, this asset is perfectly suited for Buy-and-Hold Investors or Value-Add Specialists targeting the strong Montebello rental corridor.
Property is moderate renovation needed.
Built in 1962 (62 years old), the property is well beyond the 20-year threshold for modern systems. The 'value-add' description indicates that kitchens and bathrooms are likely dated and require updates to reach market potential. While the exterior appears well-maintained with some updated vinyl windows, the overall age and need for interior modernization align with a 'Fair' rating.
The property features a favorable mix of four spacious two-bedroom units and two one-bedroom units, providing stable rental income and appeal to a variety of tenant profiles.
Situated on a desirable corner lot with easy access to Downtown Los Angeles, major freeways, and local amenities, ensuring high demand and long-term appreciation.
Includes six dedicated covered parking spaces via a rear alley carport, a highly sought-after feature in high-density rental markets that adds significant value for residents.
The inclusion of a non-permitted studio unit presents potential legal and zoning compliance risks that may require future remediation or removal.
Built in 1962, the property may require upcoming capital expenditures for system upgrades or modernization to maintain competitiveness and meet current building standards.
601 N Garfield Avenue offers a compelling opportunity to acquire a well-located multifamily property featuring six income-producing units plus an additional non-permitted studio. The property consists of a single building with four spacious two-bedroom units, each with one and a half baths, and two one-bedroom, one-bath units, along with the bonus studio. Situated on a desirable corner lot, the asset includes six covered parking spaces accessed via a rear alley carport. This makes it an attractive option for investors seeking stable income and long-term appreciation in a well-established rental market. Residents benefit from proximity to shopping, dining, public transportation, and convenient access to major freeways, with Downtown Los Angeles just a short drive away. This is a rare opportunity to acquire a well-maintained, value-add multifamily asset in a strong rental corridor.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1962 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
May 6, 2026
$1,695,000
Initial Listing