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SB23148269 MLS Active Status
We are pleased to exclusively offer for sale this 4 Unit Multi-Family investment located in the unique 90601 submarket of Whittier. This 5,788 SF lot is steps away from Whittier College and strategically positioned near Uptown Whittier. Within the last (3) years there have been only 5 other 4-Unit properties sold within a half mile. In addition to the building’s excellent location, one of the features is (3) fully remodeled units, including one upstairs that was completed in 2023. The building has been outfitted with copper plumbing and new electrical throughout and (2) of the units are equipped with tankless water heaters. Further, (2) additional units have been upgraded totaling 3 remodeled units. Along these lines, the property presents itself as an excellent Owner User opportunity for Buyer(s) looking to live in one of the units while utilizing the income from the other (3) to offset their annual debt service. As it stands, the offering presents strong day 1 income with a current CAP Rate of 4.61% and future upside with a pro forma CAP Rate of 6.41%. In addition, the tenants have access to a back lot equaling at least (4) Total Parking Spaces on site, which is especially significant in this parking impacted submarket. On top of this, there is a large back yard that is ideally suited for an ADU for investors looking to increase their annual Cash Flow. All in all, the building’s close proximity to Whittier College, Uptown Whittier, etc. and the vast dining, shopping, and entertainment options therein provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.

13423 Olive Drive, Whittier

OC23068740 MLS Active Status
The subject was originally an eight-unit apartment complex located at 7353 Comstock Avenue in the City of Whittier, Los Angeles County, California. The two-story improvement was built in 1956 of wood frame and stucco construction, were partially renovated in 2018. The building comprises 5,056 net rentable square feet situated on a 7001 square foot. The gross building area is about 5,176 square feet. Updated renovated items include: five of the subject unit interiors were renovated with paint, luxury vinyl planks, tile and carpet, renovated kitchens including new cabinets, granite or quartz counter, sinks, fixtures, tile showers surrounds, sinks fixtures, light fixtures window blinds and four new wall mounted AC units. The complex features a secured entry and common laundry. The current ownership has added two brand new ADUs to include 350 SF studios each and has completed the seismic retrofit of the tucked under parking spaces. Currently the property consists of eight 1-bedroom/1-bath plus two studios. Units D and H are corner units and each feature a private balcony. There are 12 parking spaces including 4 open, 4 tucked under and 4 Tandems. The subject property is situated on the west side of Comstock Avenue, just north of Mar Vista Street. While there is one parcel immediately south of the subject, at the northwest corner of Comstock Avenue and Mar Vista Street, it is city owned and comprised of a landscaped area and a sidewalk; therefore, the subject has direct visibility from Mar Vista Street. The location is about two miles southeast of San Gabriel River (605) Freeway. The subject neighborhood is generally bordered by Hadley Street to the north; Painter Avenue to the east; and Whittier boulevard to the south and west.

7353 Comstock Avenue, Whittier

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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