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11506 Obert Avenue

Whittier, CA 90604
  • $3,190,000
  • STATUS: Closed
  • ON SITE: 511 Days
  • ID#: OC23012856
Sold - 02/14/2024
$3,190,000
SOLD - 02/14/2024
  • 0
    BEDS
  • 0.4
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Ratings & Info

Listing Agent(s): Tyler Leeson of Marcus & Millichap RE Invest (949-419-3200)


Description

The Obert Arms is a 14-unit multifamily investment opportunity located in Whittier, CA. The Obert Arms offers a desirable mix of 4, one-bedroom units and 10, two-bedroom units and amenities including a central courtyard, private patios (select units), a balcony (select unit), tuck-under parking, and an on-site laundry facility. Whittiers continued strong rental metrics, including a 2022 vacancy rate of just 1.2 percent and year-over-year rent growth of 11.7 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, the property represents an attractive value-add opportunity for a new owner. Residents enjoy the propertys proximity to a plethora of retail, dining, and entertainment options at Gateway Plaza and Whittwood Town Center. Additionally, Whittiers central location between Los Angeles, Orange, and Riverside Counties creates consistent demand from renters looking for convenient access to Southern Californias major commercial hubs.

Sold by Sangeeta Singh of NONMEMBER MRML.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-19T00:28:42.477. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Forss Realty Group. Licensed in the State of California, USA.
www.teamforss.com/homes/136432884
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11506 Obert Avenue Whittier, CA 90604

  • Price: $3,500,000
  • Status: Closed
  • On Site: 511 Days
  • ID#: OC23012856
0
Beds
0
Baths
0
½ Baths
0.4
Acres
1962
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
Property Description
The Obert Arms is a 14-unit multifamily investment opportunity located in Whittier, CA. The Obert Arms offers a desirable mix of 4, one-bedroom units and 10, two-bedroom units and amenities including a central courtyard, private patios (select units), a balcony (select unit), tuck-under parking, and an on-site laundry facility. Whittiers continued strong rental metrics, including a 2022 vacancy rate of just 1.2 percent and year-over-year rent growth of 11.7 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, the property represents an attractive value-add opportunity for a new owner. Residents enjoy the propertys proximity to a plethora of retail, dining, and entertainment options at Gateway Plaza and Whittwood Town Center. Additionally, Whittiers central location between Los Angeles, Orange, and Riverside Counties creates consistent demand from renters looking for convenient access to Southern Californias major commercial hubs.
Exterior Features

Carport Spaces 14 Carport YN Yes Lot Features Cul-De-SacStreet Level Number Of Separate Electric Meters 14 Parking Total 14 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Buyer Financing Cash to New Loan Common Interest Community Apartment Community Features CurbsSidewalks Electric Expense 4906 Fuel Expense 4906 Garage YN No Gross Income 269048 Gross Scheduled Income 265448 Insurance Expense 5600 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash to New Loan1031 Exchange Maintenance Expense 7000 Net Operating Income 175449 New Construction YN No New Taxes Expense 38779 Number Of Separate Gas Meters 14 Number Of Separate Water Meters 0 Number Of Units Leased 14 Operating Expense 85635 Other Expense 8104 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 22121 Trash Expense 4906 Vacancy Allowance 7963 Water Sewer Expense 4907 Water Source Public Zoning LCR3*



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-19T00:28:42.477. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Forss Realty Group. Licensed in the State of California, USA.
 
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Team Forss Realty Group
31213 Temecula Parkway
Temecula CA, 92592
Listing Agent(s): Tyler Leeson of Marcus & Millichap RE Invest (949-419-3200)