$1,275,000
$1,450,000
12.1%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 12/12/2016
Key Details
Sold Price $1,275,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SR16187454
Sold Date 12/12/16
Construction Status Turnkey
HOA Y/N No
Year Built 1973
Property Description
Fantastic Opportunity to own a cash flowing 7 unit building in the heart of Whittier..Unique opportunity for multifamily ownership with unparalleled upside. Rents have not been increased in years and lag substantially under market. New owner has the opportunity to bring rents up to market and increase cash flow and value of the building dramatically..The average rent for a one bedroom is $820.00. The market suggests these units should rent for between $1,150.00 and $1,300.00... There are no one bedroom units available in Whittier for under $1,100.00 currently and none of the lower options include a garage...New Owner can rent out garages to increase income
Location
State CA
County Los Angeles
Area 670 - Whittier
Zoning WHR4*
Interior
Interior Features Granite Counters
Cooling Wall/Window Unit(s)
Flooring Tile, Wood
Fireplace No
Appliance Gas Cooktop, Gas Oven, Water Heater
Laundry Common Area
Exterior
Garage Spaces 10.0
Garage Description 10.0
Fence Chain Link
Pool None
Community Features Curbs, Street Lights, Sidewalks
Utilities Available Sewer Connected
Roof Type Shingle
Total Parking Spaces 17
Private Pool No
Building
Lot Description 0-1 Unit/Acre, Level, Rectangular Lot
Faces South
Story Two
Entry Level Two
Foundation Slab
Water Public
Architectural Style Traditional
Level or Stories Two
Construction Status Turnkey
Others
Senior Community No
Tax ID 8141023013
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Luis Ruiz • LAR Realty, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
880 Roosevelt Suite 250, Irvine, California, 92620, United States