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240 E Beverly Terrace, Montebello, California 90640, Montebello, 90640 - 5 bed, 4 bath

240 E Beverly Terrace, Montebello, California 90640 home-pic-0
ACTIVE$1,090,000
240 E Beverly Terrace, Montebello, California 90640
5Beds
4Baths
2,862Sqft
6,086Lot

Price Vs. Estimate

The estimated value ($558,150.29) is $531,849.71 (48%) lower than the list price ($1,090,000). This property may be overpriced.

Key pros and cons

Top Pros:
Income-Generating Potential / Flexible Living: The property features three distinct living spaces, including a separate 2-bedroom, 1-bath unit above the garage, offering excellent potential for rental income, multi-generational living, or a dedicated home office.
Top Cons:
Significant Price Discrepancy: The listing price of $1.09 million is considerably higher than the estimated property value of $558,150.29 and its last sale price of $775,000 in 2022, indicating a potential overvaluation that may hinder a quick sale.

Compared to the nearby listings

Price:$1.09M vs avg $850.0K (+$240,000)87%
Size:2,862 sqft vs avg 1,531 sqft99%
Price/sqft:$381 vs avg $5361%

More Insights

Built in 1956 (69 years old).
Condition: Built in 1956, this property shows signs of regular upkeep but features significantly outdated kitchen and bathroom styles, including tile countertops, older appliances, and dated light fixtures. While functional, these key areas would require substantial renovation to meet current aesthetic and quality standards, aligning with a property renovated 15-30 years ago rather than recently.
Year Built
1956
Close
-
List price
$1.09M
Original List price
$1.09M
Price/Sqft
$381
HOA
-
Days on market
-
Sold On
-
MLS number
MB25038557
Home ConditionFair
Features
ViewNeighborhood

About this home

MOTIVATED SELLERS!! Discover an exceptional opportunity at 240 East Beverly Terrace, Montebello, CA 90640—a versatile single-family estate designed for the discerning buyer. Spanning an impressive 2,862 square feet, this meticulously crafted residence offers 5 bedrooms and 4 bathrooms across three distinct living spaces, blending mid-century charm with modern potential. The main house welcomes you with a spacious layout featuring 3 bedrooms and 2 baths, perfect for elegant family living. Above the garage is a sophisticated 2-bedroom, 1-bath unit that offers endless possibilities—ideal for extended family, a home office, or lucrative rental income. Nestled on a generous 6,084-square-foot lot, this 1956 gem includes a 2-car garage with additional parking spaces for up to 4 cars, and there is a convenient shared laundry area, ensuring both practicality and comfort. Located in the vibrant heart of Montebello, this property combines tranquility with proximity to top-tier amenities, schools, and entertainment. With its unique tri-sectional design and expansive footprint, 240 East Beverly Terrace is a rare find for well-qualified buyers seeking a prestigious home with investment potential. Elevate your lifestyle—schedule a private tour today and envision the possibilities of this extraordinary residence.

Price History

Date
Event
Price
05/31/00
Sold
$260,000
09/28/22
Sold
$775,000
12/03/02
Sold
$306,000
Condition Rating
Fair
Built in 1956, this property shows signs of regular upkeep but features significantly outdated kitchen and bathroom styles, including tile countertops, older appliances, and dated light fixtures. While functional, these key areas would require substantial renovation to meet current aesthetic and quality standards, aligning with a property renovated 15-30 years ago rather than recently.
Pros & Cons

Pros

Income-Generating Potential / Flexible Living: The property features three distinct living spaces, including a separate 2-bedroom, 1-bath unit above the garage, offering excellent potential for rental income, multi-generational living, or a dedicated home office.
Spacious Layout: With 2,862 square feet, 5 bedrooms, and 4 bathrooms, the residence provides ample space for comfortable family living and various lifestyle needs.
Abundant Parking: A 2-car garage complemented by additional parking for up to 4 vehicles is a significant asset, providing convenience and value in a residential setting.
Desirable Montebello Location: Situated in the 'vibrant heart of Montebello,' the property offers convenient access to local amenities, schools, and entertainment, enhancing its appeal.
Investment & Customization Potential: Described as a 'rare find' with 'investment potential' and 'mid-century charm with modern potential,' it appeals to buyers looking for a property they can personalize and grow equity in.

Cons

Significant Price Discrepancy: The listing price of $1.09 million is considerably higher than the estimated property value of $558,150.29 and its last sale price of $775,000 in 2022, indicating a potential overvaluation that may hinder a quick sale.
Age and Undisclosed Condition of Systems: Built in 1956, the property is an older home. While it has 'mid-century charm,' the description does not specify recent major system upgrades (e.g., HVAC, plumbing, electrical), suggesting potential future maintenance or renovation costs for a buyer.
'Motivated Sellers' Signal: The explicit mention of 'MOTIVATED SELLERS!!' can be perceived as a weakness, potentially indicating a prolonged market presence or a need for a price reduction, which might lead buyers to offer below asking.

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