Back To Search
13835 Christine Drive
Whittier, CA 90605
Sold
13835 Christine Drive
Whittier, CA 90605
Sold
We are pleased to exclusively offer for sale this 7 unit multi-family investment located in the City of Whittier. This large, 6,827 SF lot is strategically positioned in an extremely low inventory submarket where there are only (32) other 5+ unit apartment buildings within a 0.5mi radius, as opposed to (1,587) SFR’s. Further, only (2) of these apartment buildings have sold over the last (3) years, which helps explain why this is the first time this property has been offered for sale in over (40) years! The building itself features an excellent unit mix of (2) 3 Bed/2 Bath ~1,080 SF Units, (4) 2 Bed/1 Bath ~850 SF Units, and (1) 1 Bed/1 Bath ~750 SF Unit for a total rentable square footage of 6,306 SF. Each tenant has access to garage parking with (7) total garage parking spaces that each feature individual ~32 SF enclosed storage spaces therein. On top of this, each tenant has access to a coin operated laundry room that generates ~$125/m in additional income. From an income capitalization standpoint, the property is currently operating at a 4.67% CAP Rate and 13.91 GRM, which are undoubtedly healthy income figures for a stabilized asset in the submarket. That said, this offering presents a rare opportunity to capitalize on impressive day 1 income while simultaneously presenting a strong value add component with an achievable Rent Upside of 27%, ultimately imputing a Market CAP Rate of 6.50% at 10.97x Gross. Further, this favorably zoned, R4 lot is operating at – or close to - its highest and best use with a Floor Area Ratio of 92%; however, the Lot Coverage is so efficient that its tenants are offered attractive courtyard/outdoor living quarters lush with greenery and enough space to entertain guests. In addition, the property runs adjacent to The Quad at Whittier and Whittier Crossing, which serves its tenants with ample shopping, restaurant, and entertainment options just a short walk away. In final, this prime location is about a mile from Whittier College and offers tenants easy access to the economic and employment hubs of both Los Angeles and Orange County. For these reasons, the astute investor can confidently forecast continued population and median household income growth within the submarket, thus driving prolonged rent growth upon acquisition.
PROPERTY INFORMATION
| MLS # | SB23042559 | Lot Size | 6,827 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 2,350,000
Price Per SqFt: $ 373 |
DOM | 862 Days |
| Address | 13835 Christine Drive | Type | Residential Income |
| City | Whittier | Sq.Ft. | 6,306 Sq. Ft. |
| Postal Code | 90605 | Garage | 7 |
| County | Los Angeles | Year Built | 1963 |
| Bed / Bath | 15 / 0 | Parking | 7 |
| Built In | 1963 | Status | Closed |
| Sold Date | 2023-03-30 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Electric Oven, Electric Cooktop, Water Heater |
| Room Information | Entry, Kitchen, Living Room |
| Flooring Information | Carpet, Wood |
| Has Spa | No |
| SpaDescription | None |
| SecuritySafety | Carbon Monoxide Detector(s), Smoke Detector(s) |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,507
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 03/30/2023 | Sold | $2,300,000 |
| 03/14/2023 | Active Under Contract | $2,350,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
Interested in buying or selling a home similar to 13835 Christine Drive?
Listing provided courtesy of Joshua Barut, 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.
