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Key Details
Sold Price $1,365,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB22025899
Sold Date 04/29/22
Bedrooms 8
HOA Y/N No
Lot Size 8,477 Sqft
Property Description
Huge 6-unit apartment building in South Whittier on an oversized lot priced below replacement cost at only $268 per square foot. Perfect unit mix with all large two bedroom, one bathroom units. Very well parked with carport for 6 cars plus 6 additional parking spaces. Enormous 102% upside in rents to a cap rate of 6.5% and a GRM of 9.8X on market rents. Rare opportunity for a true value add in a great location.
Huge 6-unit apartment building in South Whittier on an oversized lot priced below replacement cost at only $268 per square foot. Perfect unit mix with all large two bedroom, one bathroom units. Very well parked with carport for 6 cars plus 6 additional parking spaces. Enormous 102% upside in rents to a cap rate of 6.5% and a GRM of 9.8X on market rents. Rare opportunity for a true value add in a great location.
Location
State CA
County Los Angeles
Area Whittier (90605)
Zoning Public Rec
Building
Lot Size Range 7500-10889 SF
Others
Acceptable Financing Conventional
Space Rent $721
Listing Terms Conventional
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Bought with Anthony Walker • Buckingham Investments, Inc