This investment offering has two buildings on a single parcel, totaling seven units multi-family asset located in the heart of uptown Whittier.
Built in 1923, the subject property is situated on a 4,648 square foot lot with an approximately 5,543 square feet of rentable space. A $60,000 renovation project was completed in 2013. The complex consists of spacious units including two studios, three one-bedroom/one-bathroom, and two two-bedroom/one bathroom units. The apartment offers long term tenants with no vacancies for the past two years. Each unit is individually metered for gas and electricity plus separate hot water heaters. Moreover, there is additional storage units for tenants and owner. The property is conveniently located within walking distance to Whittier College, City Hall, Police Department, various shops, restaurants, financial institutions, Whittier Memorial Stadium and Penn Park. With over 180,000 population in a three miles radius and approximate twenty miles from downtown Los Angeles and other major employers. The historic roots of Whittier can be traced back to 1794. Later in 1898, Whittier became a charter law city and was incorporated in 1898. Whittier is always in high demand of rental properties due to its central location. This investment offers a value-added opportunity in one of the strongest rental markets in Southern California. The Penn Street Property is an ideal investment for an investor seeking a stable income producing asset.
BRENT ROBERTS Realtor | CA BRE# 01946139 | 619-762-4883
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