13423 Olive Drive, Whittier, CA 90601

• Sold Price : $1,275,000
• Beds : N/A
  
• Baths : N/A
  
• Property Size : N/A sqft
  
• Year Built : 1903
  

Property Description

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.

Interior Features

Listing Information

Listing information courtesy of: Keaton Quaack, Joshua Barut, Lyon Stahl Investment Real Estate, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 26th, 2024 at 11:13 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.