9025 Mills Ave - Multi-Family FOR SALE


Whittier, CA 90603- East Whittier City
$2,900,000 USD
310-940-8749
9025 Mills Ave, Whittier, CA for Sale
$2,900,000 USD
Multi-Family - FOR SALE
1/10
null | 5.48% Cap Rate

9025 Mills Ave
Whittier, CA 90603
East Whittier City


HIGHLIGHTS

  • Not subject to local rent control, allowing for increases under statewide AB-1482 guidelines (currently 8.8% - buyer to verify).
  • Near Whittier Blvd & Colima Rd - just over a mile from both The Quad at Whittier and Whittwood Town Center. Also, 0.5 miles from Whittier Hospital.
  • Comprised of (4) 2-bdrm. units & (6) 1-bdrm. units. All units feature dual-pane windows, and select units have balconies or patios.
  • On-site amenities include carport and surface parking, and plenty of green space (11,203 SF lot) that adds to curb appeal.
  • Offered at 5.48% CAP and 11.78 GRM on current rents, with projected stabilization at 6.34% CAP and 10.73 GRM after interior updates.

OVERVIEW

9025 Mills Ave checks the right boxes. No local rent control, steady income, and headache-free operations in a reliable pocket of LA County. Offered to the market for the first time in over 30 years, 9025 Mills Avenue is a well-maintained 10-unit complex in East Whittier, that offers both stable income and a convenient location. Built in 1960, the property features (4) 2-bdrm. units and (6) 1-bdrm. units, that have been consistently maintained by long-term ownership. All units feature dual-pane windows, and select units have balconies or patios. Offered at a 5.48% CAP and 11.78 GRM on current rents, the property offers solid in-place income, with projected stabilization at 6.56% CAP and 10.37 GRM after interior updates. Market rents in the area support approx. 13% rental upside. 9025 Mills is not subject to local rent control, allowing for full CPI-based increases under statewide AB 1482 guidelines (currently 8.8% - buyer to verify). Located just south of Whittier Blvd, 9025 Mills is walkable to a mix of cafes, grocers, and daily retail. It’s also just over a mile from both The Quad at Whittier and Whittwood Town Center, two of the city’s largest shopping hubs. In addition, the property is located 0.5 miles from Whittier Hospital Medical Center (employs approx. 3,700 people). For someone looking to hold long-term and avoid unnecessary headaches, 9025 Mills Ave checks the right boxes. Steady income and headache-free operations in a reliable pocket of LA County.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$401 USD /SF

# OF UNITS

10

PRICE/UNIT

$290,000

CAP RATE

5.48%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

$100K Reduction & No LA Rent Control

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,203 SF

ZONING

WHT

APN/PARCEL ID

8150-004-004

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-940-8749

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Kenny StevensCompassMore Info
310-940-8749

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.