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140 N Greenwood Avenue, Montebello, California 90640, Montebello, 90640 - bed, bath

140 N Greenwood Avenue, Montebello, California 90640 home-pic-0
ACTIVE$950,000
140 N Greenwood Avenue, Montebello, California 90640
0Bed
0Bath
1,556Sqft
6,350Lot
Year Built
1939
Close
-
List price
$950K
Original List price
$975K
Price/Sqft
$611
HOA
-
Days on market
-
Sold On
-
MLS number
PW25106389
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $950.0K(50th), sqft - 1556(38th), beds - undefined(50th), baths - undefined(50th).

Prime Investment Opportunity with ADU potential in the City of Montebello! This tenant-occupied duplex in the heart of Montebello is a great opportunity for investors seeking immediate and stable rental income. With a total of 1,556 sq ft, the property features two units: a front unit with 2 bedrooms and 1 bathroom, currently occupied by a reliable Section 8 tenant providing consistent, government-backed payments, and a rear unit with 1 bedroom and 1 bathroom, also tenant-occupied. The property is being sold with tenants in place, offering turnkey cash flow from day one and eliminating the hassle of vacancy or lease-up. Both units are separately metered except for water, and offer solid layouts with potential for value-add improvements. In addition, the detached 2-car garage offers excellent potential for conversion into an ADU (Accessory Dwelling Unit), providing an opportunity to increase rental income and maximize property value. Located near shopping, dining, schools, and major freeways, this Montebello duplex sits in a strong rental market and is a smart addition to any investor’s portfolio.

Price History

Date
Event
Price
12/30/10
Sold
$345,000
Condition Rating
Fair
The property was built in 1939, indicating significant age. While the exterior appears maintained with what looks like a newer roof and updated windows, the absence of interior photos, especially for the kitchen and bathrooms, strongly suggests these critical areas are dated and likely require renovation. The listing description's mention of 'potential for value-add improvements' further supports that the property is functional but needs updates to meet current standards. It's not in a state of major disrepair, as it's tenant-occupied, but it's far from modern or recently renovated.
Pros & Cons

Pros

Immediate Cash Flow & Turnkey Investment: The property is a tenant-occupied duplex, sold with tenants in place, offering immediate rental income and eliminating the hassle of vacancy or lease-up for the new owner.
ADU Conversion Potential: The detached 2-car garage presents an excellent opportunity for conversion into an Accessory Dwelling Unit (ADU), significantly increasing potential rental income and property value.
Stable Income Stream (Section 8): One unit is occupied by a reliable Section 8 tenant, providing consistent, government-backed rental payments and reducing income risk.
Duplex Configuration: As a duplex, the property offers diversified income streams from two separate units, appealing to investors seeking multiple rental opportunities.
Desirable Location: Located in Montebello, a strong rental market, with convenient access to shopping, dining, schools, and major freeways, enhancing tenant demand and property appeal.

Cons

Older Property (Year Built 1939): The property's age suggests potential for deferred maintenance, outdated systems, or higher repair and renovation costs in the future to modernize or maintain.
Shared Water Meter: The units are separately metered except for water, which could lead to potential disputes between tenants or require the landlord to cover shared water utility costs.
Tenant-Occupied Sale: While providing immediate income, selling with tenants in place can complicate property showings, inspections, and limit a buyer's immediate flexibility for personal use or extensive renovations.

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