Closed

11506 Obert Avenue

Whittier CA, 90604

$3,190,000


$260.77 per sqft

Closed

12,233 sqft

Condo

Built in 1962

Listed by Tyler Leeson with Marcus & Millichap RE Invest 949-419-3200

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. Whittier's 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 property's proximity to a plethora of retail, dining, and entertainment options at Gateway Plaza and Whittwood Town Center. Additionally, Whittier's central location between Los Angeles, Orange, and Riverside Counties creates consistent demand from renters looking for convenient access to Southern California's major commercial hubs.

OC23012856

MLS ID

January 24, 2023

Listed

May 9, 2024

Updated

Map

11506 Obert Avenue
Whittier CA, 90604

Interior Features

Total Stories

2


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.4 Acres


Lot Features

Cul-De-Sac, Street Level


Sewer

Public Sewer

Other Property Details

Area Name

699 - Not Defined


Days on Market

247


Garage

No


Parking Total

14


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LCR3*


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

2/16/2024

Sold

$3,190,000

11/1/2023

Pending

9/29/2023

Under Contract

6/6/2023

Price Change

$3,500,000

-6%

Listing Contact: 949-419-3200 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/9/2024 at 12:10 PM UTC

 

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