Seller's Agent in 2023
Matthew Guerra
KW Executive
(909) 997-9765
3 in this area
18 Total Sales
7913 Bright Ave Whittier, CA 90602
Estimated Value: $1,924,000 - $1,953,696
10
Beds
7
Baths
5,554
Sq Ft
$349/Sq Ft
Est. Value
Highlights
- Gated Community
- Cooling System Mounted To A Wall/Window
- Laundry Room
- Fireplace in Bathroom
- Park
- Turnkey
About This Home
As of April 2023We are pleased to offer 7913 Bright Avenue, a seven(7) unit multifamily apartment building located in the highly desirable city of Whittier. This asset is comprised of two separate buildings boasting 5,554 total square feet, on a large 7,700 square foot lot. Each unit is separately metered for gas and electricity. The property features a private security gate and brick wall surrounding the property. Each unit has an individual 1-car garage and access to the shared laundry room. The unit mix consists of four(4) 2bedroom+1bathrrom units, two(2) 1bedroom+1bathroom units, and one(1) studio unit. The spacious unit sizes allow for a new property owner to acquire this valuable asset and increase the rental income by approximately +/-46% and increase the property value significantly.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $23,455
Year Built
- Built in 1963 | Remodeled
Lot Details
- 7,700 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 4 Open Parking Spaces
- 7 Car Garage
Home Design
- Apartment
- Turnkey
Interior Spaces
- 5,554 Sq Ft Home
- 2-Story Property
- Electric Fireplace
- Gas Fireplace
- Dining Room with Fireplace
- Fireplace in Kitchen
- Laundry Room
Bedrooms and Bathrooms
- 10 Bedrooms
- 7 Bathrooms
- Fireplace in Bathroom
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Urban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Heating Available
- Natural Gas Connected
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 47
- Tax Tract Number 4994
- Assessor Parcel Number 8141029002
- $2,561 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 7 Units
Recreation
- Park
Building Details
- 7 Leased Units
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $37,986
- Gross Income $121,795
- Net Operating Income $80,155
Additional Features
- Laundry Facilities
- Gated Community
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 14, 2023
Closed on
Apr 13, 2023
Sold by
Arevalo Family Trust and Arevalo Jose Luis
Bought by
Barrera Family Trust and Barrera
Seller's Agent
Matthew Guerra
KW Executive
Buyer's Agent
Matthew Guerra
KW Executive
List Price
$2,100,000
Sold Price
$1,800,000
Premium/Discount to List
-$300,000
-14.29%
Views
61
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$138,848
Avg. Annual Appreciation
3.88%
Purchase Details
Closed on
Feb 25, 2014
Sold by
Arevalo Jose Luis and Arevalo Emilia
Bought by
The Arevalo Family Trust
Purchase Details
Closed on
Nov 3, 2005
Sold by
Arevalo Jose Luis and Arevalo Emilia
Bought by
Arevalo Family Trust
Purchase Details
Closed on
Oct 16, 1995
Sold by
Ramirez Jesus and Ramirez Carolina
Bought by
Arevalo Jose Luis and Arevalo Emilia
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
7.41%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 8, 1993
Sold by
Ramirez Jesus G and Ramirez Carolina B
Bought by
Ramirez Jesus and Ramirez Carolina
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
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Barrera Family Trust | $1,800,000 | California Best Title | |
| The Arevalo Family Trust | -- | North American Title Co Inc | |
| Arevalo Family Trust | -- | -- | |
| Arevalo Jose Luis | $300,000 | Gateway Title Company | |
| Ramirez Jesus | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Arevalo Jose Luis | $4,930,244 | |
| Previous Owner | Arevalo Jose Luis | $8,500,000 | |
| Previous Owner | Arevalo Jose Luis | $592,000 | |
| Previous Owner | Arevalo Jose Luis | $200,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/28/2023 04/28/23 | Sold | $1,800,000 | -14.3% | $324 / Sq Ft |
| 04/07/2023 04/07/23 | Pending | -- | -- | -- |
| 03/14/2023 03/14/23 | For Sale | $2,100,000 | -- | $378 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $23,455 | $1,872,720 | $1,040,400 | $832,320 |
| 2024 | $23,455 | $1,836,000 | $1,020,000 | $816,000 |
| 2023 | $10,267 | $670,621 | $143,697 | $526,924 |
| 2022 | $9,934 | $657,473 | $140,880 | $516,593 |
| 2021 | $9,918 | $644,582 | $138,118 | $506,464 |
| 2019 | $9,458 | $625,865 | $134,022 | $491,843 |
| 2018 | $9,277 | $613,602 | $131,395 | $482,207 |
| 2016 | $8,880 | $589,393 | $126,294 | $463,099 |
| 2015 | $8,698 | $580,540 | $124,397 | $456,143 |
| 2014 | $8,584 | $569,169 | $121,961 | $447,208 |
Source: Public Records
Agents Affiliated with this Home
-
Matthew Guerra
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: AR23042850
APN: 8141-029-002
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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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