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
2,226Sqft
6,741Lot
Year Built
1929
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
$494
HOA
-
Days on market
-
Sold On
-
MLS number
PW25157360
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.10M(85th), sqft - 2226(46th), beds - 6(92th), baths - 3(92th).

Now Delivered Fully Vacant! – 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. Each with their own washer/dryer hookups, separate gas and electric meters. 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 and in-unit washer/dryer hookups. With no shared walls and a separate entrance, it offers true privacy and comfort—ideal for owner-occupants or an additional rental. The ADU also has separate gas, electric, and water meters! 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
07/14/25
$1,100,000
02/23/24
Sold
$655,000
Condition Rating
Excellent

Despite being built in 1929, the property has undergone extensive and recent renovations, including fully remodeled duplex units and a brand-new detached ADU. All visible components, such as kitchens with new shaker cabinets and countertops, modern bathrooms with new vanities and tiling, new wood-look flooring throughout, updated light fixtures (including recessed lighting and ceiling fans), and modern mini-split AC in the ADU, appear new or virtually new. The property is described as 'Turnkey,' indicating it meets current quality standards with no deferred maintenance.
Pros & Cons

Pros

Income-Generating Triplex with ADU: The property is a turnkey triplex, recently converted from a single-family residence to include a modern duplex and a brand-new detached ADU, offering three independent income streams and significant owner-user potential.
Fully Vacant & Turnkey: Delivered fully vacant, this property allows a new owner to immediately set market rents without the complexities of existing leases or tenant relocation, making it a truly move-in-ready investment.
Extensive Remodeling & Modern Updates: All units are described as 'beautifully upgraded and thoughtfully reimagined' and 'fully remodeled,' indicating significant capital improvements have already been made, reducing immediate renovation costs for the buyer.
Separate Utilities & In-Unit Amenities: Each unit features its own washer/dryer hookups and separate gas and electric meters (ADU also has separate water meter), simplifying tenant billing, reducing landlord overhead, and enhancing tenant appeal.
Ample Off-Street Parking: A long driveway provides ample off-street parking, a valuable amenity for a multi-unit property that enhances convenience for tenants and helps mitigate street parking challenges.

Cons

Age of Original Structure (1929): Despite extensive remodeling, the core structure dates back to 1929, which could imply potential for unforeseen maintenance issues related to older infrastructure (e.g., original plumbing, foundation) not fully addressed by the recent upgrades.
Limited Private Outdoor Space per Unit: With three units on a 6,741 sqft lot, the individual private outdoor space for each tenant is likely minimal, which may be a drawback for renters seeking more personal outdoor amenities or yard access.
Potential for Increased Property Taxes Post-Sale: The significant conversion and upgrades, particularly the addition of a new ADU, will likely trigger a reassessment of the property's value upon sale, potentially leading to a substantial increase in property taxes for the new owner.

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