Seller's Agent in 2024
Kristopher German
RE/MAX
(909) 645-0443
3 in this area
118 Total Sales
7346 Bright Ave Whittier, CA 90602
Uptown Whittier Neighborhood
22
Beds
12
Baths
12,991
Sq Ft
0.32
Acres
Highlights
- Solar Power System
- 0.32 Acre Lot
- Laundry Room
About This Home
As of April 202416 Units "Uptown" Whittier with Private Seller Financing Available! We are pleased to exclusively offer for sale a premier multi-family residential investment opportunity nestled in the desirable uptown Whittier area. The subject property offers a desirable unit mix consisting of: 2 (3 Bedroom/2 Bathroom) units, 14 (2-Bedroom/1-Bathroom) units, and a 1 Bedroom/1 Bathroom non-conforming unit, totaling 12,991 rental square feet on a 13,975 square foot lot.
The property boasts copper plumbing throughout and a newer central water heater enhanced by a solar power system, reflecting the seller's commitment to efficiency. Tenants enjoy an array of amenities designed for comfort and convenience including; an onsite laundry facility, covered tuck-under parking, and select units feature a cozy fireplace, adding a touch of warmth to the living space.
Each unit is individually metered for electricity & gas, while the owner pays for water and trash. Located within walking distance to a vibrant selection of shops, eateries, and the public library, this property offers an urban lifestyle with the charm of a close-knit community. Given the longevity of ownership, the rental rates have been kept modest for the location allowing for a 35% upside in rental income, with most units poised for an annual rental increase currently.
Investors will be particularly interested in the attractive Private Seller Financing that is offered with the following terms: 35% Down Payment, 6.5% Interest-Only Payments, Due in 10 Years.
Last Agent to Sell the Property
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 03/04/2024
Last Buyer's Agent
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 03/04/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964
Lot Details
- 0.32 Acre Lot
- Two or More Common Walls
- Density is 16-20 Units/Acre
Home Design
- Apartment
Interior Spaces
- 12,991 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 22 Bedrooms
- 12 Bathrooms
Parking
- 16 Parking Spaces
- 16 Carport Spaces
Additional Features
- Solar Power System
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 16 / 35
- Tax Tract Number 27
- Assessor Parcel Number 8141010027
- $6,041 per year additional tax assessments
Community Details
Building Details
- 16 Leased Units
- Rent Control
- 17 Separate Electric Meters
- 17 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,400
- Fuel Expense $1,929
- Insurance Expense $10,000
- Maintenance Expense $12,000
- Other Expense $2,400
- Professional Management Expense $24,000
- Trash Expense $8,254
- Water Sewer Expense $7,200
- New Taxes Expense $46,551
- Operating Expense $114,734
- Gross Income $330,080
- Net Operating Income $205,444
Additional Features
- 17 Units
- Laundry Facilities
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/02/2024 04/02/24 | Sold | $4,400,000 | +6.0% | $339 / Sq Ft |
| 03/15/2024 03/15/24 | Pending | -- | -- | -- |
| 03/04/2024 03/04/24 | For Sale | $4,150,000 | -- | $319 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Kristopher German
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV24044018
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