11506 Obert Avenue, Whittier, CA 90604

$3,190,000
Sold Price
$3,190,000
List Price
$4,025,000
Closing Date
Feb 14, 2024
MLS#
OC23012856
Status
SOLD
Type
Multifamily

Property Description

The Obert Arms is a 14-unit multifamily investment opportunity located in Whittier, CA. The Obert Arms offers a desirable mix of 4, one-bedroom units and 10, two-bedroom units and amenities including a central courtyard, private patios (select units), a balcony (select unit), tuck-under parking, and an on-site laundry facility. Whittiers continued strong rental metrics, including a 2022 vacancy rate of just 1.2 percent and year-over-year rent growth of 11.7 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, the property represents an attractive value-add opportunity for a new owner. Residents enjoy the propertys proximity to a plethora of retail, dining, and entertainment options at Gateway Plaza and Whittwood Town Center. Additionally, Whittiers central location between Los Angeles, Orange, and Riverside Counties creates consistent demand from renters looking for convenient access to Southern Californias major commercial hubs.

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Courtesy of Marcus & Millichap RE Invest, Tyler Leeson. Selling Office: NONMEMBER MRML.