13423 Olive Drive, Whittier, CA 90601

About this fourplex

We are pleased to exclusively offer for sale this 4 Unit Multi-Family investment located in the unique 90601 submarket of Whittier. This 5,788 SF lot is steps away from Whittier College and strategically positioned near Uptown Whittier. Within the last (3) years there have been only 5 other 4-Unit properties sold within a half mile. In addition to the building’s excellent location, one of the features is (3) fully remodeled units, including one upstairs that was completed in 2023. The building has been outfitted with copper plumbing and new electrical throughout and (2) of the units are equipped with tankless water heaters. Further, (2) additional units have been upgraded totaling 3 remodeled units. Along these lines, the property presents itself as an excellent Owner User opportunity for Buyer(s) looking to live in one of the units while utilizing the income from the other (3) to offset their annual debt service. As it stands, the offering presents strong day 1 income with a current CAP Rate of 4.61% and future upside with a pro forma CAP Rate of 6.41%. In addition, the tenants have access to a back lot equaling at least (4) Total Parking Spaces on site, which is especially significant in this parking impacted submarket. On top of this, there is a large back yard that is ideally suited for an ADU for investors looking to increase their annual Cash Flow. All in all, the building’s close proximity to Whittier College, Uptown Whittier, etc. and the vast dining, shopping, and entertainment options therein provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.

Listing description from the February 2024 sale, as reported to CRMLS.

Sale history

$1,275,000

Sold February 2024 · listed $1,395,000, on market August 2023 · MLS #SB23148269 · Source: CRMLS

Listing Agent: Keaton Quaack · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 562-743-8204 · Bought with: Prashant Sampat · Pacific Avenue Realty

$868,000

Sold March 2019 · listed $925,000, orig. $902,500, on market January 2019 · MLS #OC19011636 · Source: CRMLS

Listing Agent: Kurt Hoenecke · Listing Office: American Pacific Realty · Contact: 714-963-4500 · Bought with: Amy Tsang · Keller Williams Pacific Estate

$740,000

Sold February 2016 · listed $875,000, on market November 2015 · MLS #PW15246764 · Source: CRMLS

Listing Agent: Alfred Renteria · Listing Office: R & R Real Estate Service · Contact: 562-908-0060 · Bought with: David Singery · Trinity Realty & Investments

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