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13423 Olive Drive
USD 1,395,000
Property ID: SB23148269
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13423 Olive Drive ,90601
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icon 5788 SqFt
icon Built in 1903
icon USD 241/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
2670
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1903
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Detailed Introduction Of This Home
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 a completely remodeled unit upstairs that will be delivered VACANT at the close of escrow. The building has been outfitted with copper plumbing and new electrical throughout and (2) of the units are equipped with tankless water heaters while the vacant unit features a brand new mini split system. 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.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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13423 Olive Drive
USD 1,395,000 0 Beds
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