224 S Greenwood Avenue, Montebello, California 90640, Montebello, 90640 - 6 bed, 3 bath

224 S Greenwood Avenue, Montebello, California 90640 home-pic-0
ACTIVE$1,100,000
224 S Greenwood Avenue, Montebello, California 90640
6Beds
3Baths
2,266Sqft
6,741Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income-Generating Triplex: The property offers three fully independent living spaces, including a brand-new detached ADU, providing multiple reliable income streams and strong investment potential.
Top Cons:
Rapid Price Appreciation & Valuation: The current list price of $1.1M represents a significant increase from its $655,000 sale price in February 2024, which, while reflecting upgrades, may lead to scrutiny regarding current market valuation and immediate appreciation potential.

Compared to the nearby listings

Price:$1.10M vs avg $950.0K (+$150,000)85%
Size:2,266 sqft vs avg 2,398 sqft46%
Price/sqft:$485 vs avg $39662%

More Insights

Built in 1929 (96 years old).
Condition: Despite the original build year of 1929, the property has undergone an extensive and recent renovation, including the addition of a brand-new detached ADU and fully remodeled duplex units. The images confirm new laminate wood flooring throughout, modern grey and white shaker-style cabinets, new quartz countertops, stainless steel sinks, and new appliances (visible in ADU kitchen). Bathrooms feature new vanities, toilets, and modern tile work (including a walk-in shower in the ADU). The ADU also benefits from a modern mini-split AC system. All visible components appear new or virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'excellent' criteria for a property extensively renovated within the last 5 years.
Year Built
1929
Close
-
List price
$1.1M
Original List price
$1,000K
Price/Sqft
$485
HOA
-
Days on market
-
Sold On
-
MLS number
PW25081302
Home ConditionExcellent
Features
Patio
View-

About this home

Price Reduced! – Turnkey Triplex in the Heart of Montebello! Welcome to 224 S Greenwood Ave, a beautifully upgraded and thoughtfully reimagined property offering three fully independent living spaces on one lot. Recently converted from a single-family residence into a modern duplex plus a brand-new detached ADU, this is a rare investment opportunity with built-in income and owner-user potential. The duplex consists of fully remodeled two side-by-side units, each offering 2 bedrooms and 1 bathroom, designed with bright, functional floorplans and tasteful updates. Both units are currently rented out, generating reliable income from day one. Tucked privately at the rear of the property is a spacious, detached brand new ADU featuring 2 bedrooms, 1 bathroom, and approximately 750 square feet of living space. With no shared walls and a separate entrance, it offers true privacy and comfort—ideal for owner-occupants or an additional rental. Even better, the ADU can be delivered vacant at closing, offering flexibility for move-in or leasing. A long driveway provides ample off-street parking, enhancing accessibility and convenience for all occupants. Centrally located in Montebello, you’re just minutes from shopping, dining, schools, and major freeways—positioning this property perfectly for both lifestyle and investment. Whether you're an investor seeking strong cash flow or a homeowner looking to live in one unit and rent the others, 224 S Greenwood Ave is a move-in-ready, income-generating gem.

Price History

Date
Event
Price
02/23/24
Sold
$655,000
Condition Rating
Excellent

Despite the original build year of 1929, the property has undergone an extensive and recent renovation, including the addition of a brand-new detached ADU and fully remodeled duplex units. The images confirm new laminate wood flooring throughout, modern grey and white shaker-style cabinets, new quartz countertops, stainless steel sinks, and new appliances (visible in ADU kitchen). Bathrooms feature new vanities, toilets, and modern tile work (including a walk-in shower in the ADU). The ADU also benefits from a modern mini-split AC system. All visible components appear new or virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'excellent' criteria for a property extensively renovated within the last 5 years.
Pros & Cons

Pros

Income-Generating Triplex: The property offers three fully independent living spaces, including a brand-new detached ADU, providing multiple reliable income streams and strong investment potential.
Extensive Remodel & Turnkey Condition: The duplex units are fully remodeled with tasteful updates, and the entire property is described as 'turnkey,' minimizing immediate capital expenditure for a new owner.
Owner-User Flexibility: The brand-new ADU can be delivered vacant at closing, offering a unique opportunity for an owner to live on-site while generating income from the other two rented units.
Prime Montebello Location: Centrally located in Montebello, the property is just minutes from shopping, dining, schools, and major freeways, enhancing its appeal for tenants and long-term appreciation.
Ample Off-Street Parking: A long driveway provides ample off-street parking, a valuable amenity that enhances convenience and accessibility for all occupants in an urban setting.

Cons

Rapid Price Appreciation & Valuation: The current list price of $1.1M represents a significant increase from its $655,000 sale price in February 2024, which, while reflecting upgrades, may lead to scrutiny regarding current market valuation and immediate appreciation potential.
Age of Original Structure: Despite extensive remodels and a new ADU, the primary duplex structure dates back to 1929, potentially carrying inherent risks or maintenance considerations associated with older foundations or systems not explicitly upgraded.
Lack of Specified Cooling System: The description details numerous upgrades but does not mention the installation of a modern cooling system (e.g., central air conditioning), which could be a significant comfort factor and expectation for tenants in the California climate.

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