NOT LISTED FOR SALE

7616 Milton Ave Whittier, CA 90602

South Whittier Neighborhood

Estimated Value: $884,000 - $1,066,000

3 Beds
2 Baths
1,832 Sq Ft
$533/Sq Ft Est. Value

Sale Details

Date Sold: August 18, 2020

Last sale price $755,000 $412 Per Sq Ft

Est. 29% increase in value since last sale

Current estimated payment $6,022 / mo

137 Days on Market

About This Home

As of August 2020

7616 Milton Avenue is a renovated three-unit multifamily investment property in Whittier, California. The property consists of a desirable mix of two two-bedroom/one-bath and one one-bedroom/one-bath bungalows that are individually metered for gas, water, and electricity. The units boast granite countertops, new flooring, new roofs, and dedicated parking. A new investor could further boost the units’ strong appeal by fencing in private yards.

7616 Milton Avenue is located in a desirable area just a few blocks from the Whittier Library, Community Center, Community Theater, City Hall, and Friends Park, and just a two-minute drive from a Smart & Final Extra! grocery store. This area is a majority-renter market with an average household income within one mile that exceeds $70,000.

This offering presents an excellent opportunity for an investor to acquire a well-located, renovated asset with a desirable unit mix and capture 50 percent rental upside.

Last Agent to Sell the Property

Steve Bogoyevac

Steven M. Bogoyevac, Broker License #01332755 Listed on: 03/16/2020

Co-Listed By

David O'Keefe

Marcus & Millichap License #01928739

Last Buyer's Agent

Lily Campbell

First Team Real Estate License #01229782

First Team Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 7,001 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot

Home Design

  • 1,832 Sq Ft Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Electric Dryer Hookup

Parking

  • 3 Open Parking Spaces
  • 3 Parking Spaces

Location

  • Suburban Location

Listing and Financial Details

  • Legal Lot and Block 21 / 4
  • Assessor Parcel Number 8141014022

Community Details

Overview

  • 3 Buildings
  • 3 Units

Building Details

  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 3 Separate Water Meters
  • Operating Expense $17,718
  • Gross Income $43,200
  • Net Operating Income $24,186

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

7,001 Sq Ft Lot

Listing Details

  • CapRate: 3.16
  • Property Attached: No
  • Zoning: WHR4*
  • Property Type: Residential Income
  • Parcel Number: 8141014022
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 412.12

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 3.00
  • Uncovered Spaces: 3.00

Utilities

  • Laundry: Yes
  • Laundry Features: Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 7001.00
  • Lot Size Acres: 0.1607

Multi Family

  • Gross Income: 43200.00
  • Gross Multiplier: 17.71
  • Gross Scheduled Income: 43200.00
  • Lot Size Area: 7001.0000 Square Feet
  • Net Operating Income: 24186.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 3
  • Number Of Units Total: 3
  • Operating Expense: 17718.00
  • Rent Control: Yes
  • Total Expenses: 17718.00

Tax Info

  • Tax Block: 4
  • Tax Census Tract: 5018.03
  • Tax Lot: 21

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 16, 2020
Closed on
Aug 5, 2020
Sold by
G & B Partners Llc
Bought by
Ploehn Steven C and Ploehin Patricia S
Seller's Agent
Steve Bogoyevac
Steven M. Bogoyevac, Broker
Buyer's Agent
Lily Campbell
First Team Real Estate
List Price
$765,000
Sold Price
$755,000
Premium/Discount to List
-$10,000
-1.31%
Current Estimated Value
$975,909

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$220,909
Avg. Annual Appreciation
4.61%

Purchase Details

Listed on
May 31, 2016
Closed on
Jun 2, 2016
Sold by
Milton Ave Trust
Bought by
G & B Partners Llc
Seller's Agent
Aaron Mazzrillo
MARKET STREET REALTY
Buyer's Agent
Aaron Mazzrillo
MARKET STREET REALTY
List Price
$699,980
Sold Price
$675,000
Premium/Discount to List
-$24,980
-3.57%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.72%

Purchase Details

Closed on
Apr 7, 2014
Sold by
J R Howard Enterprises Ltd
Bought by
Milton Ave Trust and Advanced Sales Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
4.32%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 29, 2002
Sold by
Howard James R and Howard Marjorie M
Bought by
J R Howard Enterprises Ltd

Purchase Details

Closed on
Apr 26, 2001
Sold by
Howard James R and Howard Marjorie M
Bought by
J R Howard Enterprises Ltd
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Ploehn Steven C $755,000 Ticor Title Company
G & B Partners Llc $675,000 Chicago Title
Milton Ave Trust $388,500 Chicago Title Company
J R Howard Enterprises Ltd -- --
J R Howard Enterprises Ltd -- --
Howard James R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Milton Ave Trust $350,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/18/2020 08/18/20 Sold $755,000 -1.3% $412 / Sq Ft
07/31/2020 07/31/20 Pending -- -- --
03/16/2020 03/16/20 For Sale $765,000 +13.3% $418 / Sq Ft
06/17/2016 06/17/16 Sold $675,000 -3.6% $368 / Sq Ft View Prior Sale
06/06/2016 06/06/16 Pending -- -- --
04/07/2016 04/07/16 For Sale $699,980 -- $382 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $10,181 $817,234 $530,390 $286,844
2024 $10,181 $801,211 $519,991 $281,220
2023 $9,954 $785,502 $509,796 $275,706
2022 $9,693 $770,100 $499,800 $270,300
2021 $9,540 $755,000 $490,000 $265,000
2020 $9,246 $730,639 $474,104 $256,535
2019 $9,184 $716,313 $464,808 $251,505
2018 $8,884 $702,269 $455,695 $246,574
2016 $5,255 $401,785 $260,953 $140,832
2015 $5,318 $395,751 $257,034 $138,717
2014 $1,747 $76,635 $51,715 $24,920
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2020

    Steve Bogoyevac

    Steven M. Bogoyevac, Broker

    (562) 257-1231

    2 in this area

    80 Total Sales

    Steve Bogoyevac
    Section Image

  • D

    Seller Co-Listing Agent in 2020

    David O'Keefe

    Marcus & Millichap

    (562) 257-1200

    2 in this area

    39 Total Sales

    David O'Keefe
    Section Image
  • Lily Campbell

    Buyer's Agent in 2020

    Lily Campbell

    First Team Real Estate

    (714) 593-6089

    702 Total Sales

    Lily Campbell
    Section Image

  • A

    Seller's Agent in 2016

    Aaron Mazzrillo

    MARKET STREET REALTY

    (949) 903-8848

    12 Total Sales

    Aaron Mazzrillo
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20057389

California Regional Multiple Listing Service (CRMLS)

APN: 8141-014-022

California Los Angeles County Whittier 90602 South Whittier

7616 Milton Ave, Whittier, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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