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13423 Olive Drive
Whittier, CA 90601
Sold
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.
PROPERTY INFORMATION
| MLS # | SB23148269 | Lot Size | 5,788 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Quadruplex |
| Price | $ 1,395,000
Price Per SqFt: $ 522 |
DOM | 710 Days |
| Address | 13423 Olive Drive | Type | Residential Income |
| City | Whittier | Sq.Ft. | 2,670 Sq. Ft. |
| Postal Code | 90601 | Garage | N/A |
| County | Los Angeles | Year Built | 1903 |
| Bed / Bath | 8 / 0 | Parking | 4 |
| Built In | 1903 | Status | Closed |
| Sold Date | 2024-02-23 |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Gas Oven, Gas Cooktop, Microwave, Range Hood, Refrigerator, Water Heater |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | Yes |
| Cooling Information | Central Air |
| Flooring Information | Wood |
| InteriorFeatures Information | Granite Counters, Open Floorplan |
| EntryLocation | Floor |
| Entry Level | 2 |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| ExteriorFeatures | Rain Gutters |
| Roof | Composition, Shingle |
| Has Pool | No |
| Pool | None |
| Has Fence | Yes |
| Fencing | Wood |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,488
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 12/06/2023 | Active | $1,395,000 |
| 12/05/2023 | Pending | $1,395,000 |
| 11/28/2023 | Relisted | $1,395,000 |
| 11/16/2023 | Active Under Contract | $1,395,000 |
| 10/26/2023 | Relisted | $1,395,000 |
| 08/09/2023 | Listed | $1,395,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Keaton Quaack, Lyon Stahl Investment Real Estate, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
