NOT LISTED FOR SALE

7723 Milton Ave Whittier, CA 90602

3 Beds
2 Baths
5,442 Sq Ft
7,195 Sq Ft Lot

Last Sold February 20, 2017

Last sale price $1,500,000 $276 Per Sq Ft

8 Days on Market

About This Home

As of February 2017

• Desirable Mix of 1 and 2 Bedroom Units
• Carports & Garages
• Excellent Uptown Whittier Location
• Substantial Upside in Rents
• 1st Time on the Market

• Built in 1963, the Whitestone Apartments is a well-maintained property in uptown Whittier that consists of (5) one-bedroom/one-bath units and (3) two bedroom/one-bath units. Some of the building’s amenities include an onsite laundry facility, carports, garages, controlled access entry and storage lockers. All units are separately metered for electricity and gas. A new owner has the ability to increase asking rents by over 30% to market rent levels.

The property is located on Milton Avenue, and is west of Greenleaf Avenue and south of Mar Vista Street.

DRIVE BY ONLY! DO NOT DISTURB THE TENANTS AS THEY ARE UNAWARE OF THE SALE!

Last Agent to Sell the Property

Paul Espinosa

Morgan Skenderian License #01942627 Listed on: 12/13/2016

Last Buyer's Agent

Doug Rodermund

Morgan Skenderian License #01314304

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 7,195 Sq Ft Lot
  • 1 Common Wall
  • Density is 6-10 Units/Acre

Parking

  • 2 Car Garage
  • 6 Carport Spaces

Home Design

  • 5,442 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tax Lot 6
  • Tax Tract Number 7
  • Assessor Parcel Number 8141022006

Community Details

Overview

  • 8 Units

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $820
  • Insurance Expense $1,905
  • Maintenance Expense $5,727
  • Other Expense $500
  • Water Sewer Expense $7,304
  • New Taxes Expense $19,477
  • Operating Expense $35,733
  • Gross Income $8,200
  • Net Operating Income $59,715

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

2

Listing Details

  • CapRate: 3.90
  • Property Attached: Yes
  • Water Sewer Expenses: 7304.00
  • Zoning: WHR4*
  • Property Type: Residential Income
  • Gardener Expense: 820.00
  • Parcel Number: 8141022006
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 275.63

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 6.00
  • Garage Spaces: 2.00
  • Total Parking Spaces: 8.00

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 7195.00

Multi Family

  • Gross Income: 8200.00
  • Gross Multiplier: 15.50
  • Gross Operating Income: 95448.00
  • Gross Scheduled Income: 98400.00
  • Gross Spendable Income: 13341.00
  • Insurance Expense: 1905.00
  • Laundry Income: 125.00
  • Maintenance Expense: 5727.00
  • Maintenance Percent: 8.00
  • Net Operating Income: 59715.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 35733.00
  • Operating Expense Percent: 36.30
  • Other Expense: 500.00
  • Other Expense Description: Admin
  • Rent Control: No
  • Total Expenses: 35733.00
  • Vacancy Allowance: 2952
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 19477.00
  • Tax Census Tract: 5018.03
  • Tax Lot: 6
  • Tax Tract Number: 7

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
02/20/2017 02/20/17 Sold $1,500,000 -1.6% $276 / Sq Ft
12/13/2016 12/13/16 For Sale $1,525,000 -- $280 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Paul Espinosa

    Seller's Agent in 2017

    Paul Espinosa

    Morgan Skenderian

    (714) 206-2688

    33 Total Sales

    Paul Espinosa
    Section Image
  • Doug Rodermund

    Buyer's Agent in 2017

    Doug Rodermund

    Morgan Skenderian

    (949) 295-8560

    22 Total Sales

    Doug Rodermund
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16762641

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Whittier 90602

7723 Milton Ave, Whittier, CA

This home is located at 7723 Milton Ave, Whittier, CA 90602 since 13 December 2016. This property was built in 1963. 7723 Milton Ave is a home located in Los Angeles County with nearby schools including Lydia Jackson Elementary School, Walter F. Dexter Middle School, and Whittier High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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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