Whittier, CA 90602 7346 Bright Avenue

Sold: Apr 02, 2024
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Presented By: Kristopher German with RE/MAX 2000 REALTY; 909-645-0443
  • MLS# CV24044018
  • 03/04/2024
  • Request Tour
  • Request Info
  • FootageSQFT • 12,991

Home Details

16 Units "Uptown" Whittier with Private Seller Financing Available! We are pleased to exclusively offer for sale a premier multi-family residential investment opportunity nestled in the desirable uptown Whittier area. The subject property offers a desirable unit mix consisting of: 2 (3 Bedroom/2 Bathroom) units, 14 (2-Bedroom/1-Bathroom) units, and a 1 Bedroom/1 Bathroom non-conforming unit, totaling 12,991 rental square feet on a 13,975 square foot lot. The property boasts copper plumbing throughout and a newer central water heater enhanced by a solar power system, reflecting the seller's commitment to efficiency. Tenants enjoy an array of amenities designed for comfort and convenience including; an onsite laundry facility, covered tuck-under parking, and select units feature a cozy fireplace, adding a touch of warmth to the living space. Each unit is individually metered for electricity & gas, while the owner pays for water and trash. Located within walking distance to a vibrant selection of shops, eateries, and the public library, this property offers an urban lifestyle with the charm of a close-knit community. Given the longevity of ownership, the rental rates have been kept modest for the location allowing for a 35% upside in rental income, with most units poised for an annual rental increase currently. Investors will be particularly interested in the attractive Private Seller Financing that is offered with the following terms: 35% Down Payment, 6.5% Interest-Only Payments, Due in 10 Years.
Presented By: Kristopher German with RE/MAX 2000 REALTY; 909-645-0443

General for 7346 Bright Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Buyer FinancingSellerFinancing
Carport Spaces16.0
Carport Y/NYes
CityWhittier
Close Price4400000.0
Community FeaturesCurbs, Gutters, Sidewalks
CountyLos Angeles
Days on Market11
DirectionsEast of I-605, South of CA-60; Near the Intersection of Mar Vista St & Bright Ave
Electric Expense2400.0
Entry Location1
Fuel Expense1929.0
Garage Spaces0.0
Garage Y/NNo
Green Energy GenerationSolar
Gross Income330080.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense10000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, OwnerWillCarry
Lot Size Square Feet13975.0
MLS Area678 - N. Whittier
MaintenanceExpense12000.0
MobileHomeRemainsYNNo
Net Operating Income205444.0
New ConstructionNo
Number of Units Leased16
Operating Expense114734.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusClosed
StatusClosed
Stories2
Street NameBright
Tax Lot16
Taxes$46,551
Tenant PaysElectricity, Gas
Total Actual Rent25290.0
Total Units17
Trash Expense8254.0
View Y/NNo
Water Sewer Expense7200.0
Waterfront Y/NNo
Year Built1964
Year Built SourceAssessor
ZoningWHR3*

Interior for 7346 Bright Avenue

Air Conditioning Y/NNo
Basement (Y/N)No
BuyerOfficeEmailkuansung@hotmail.com
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Entry Level1
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea, Inside
Street SuffixAvenue
Total Stories2

Exterior for 7346 Bright Avenue

Building Area Total12991.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1620UnitsAcre
Lot Size Acres0.3208
Lot Size Area13975.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters17
Number of Separate Gas Meters17
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking16.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $4,150,000
MLS#CV24044018
List Date 03/04/2024
Property Type Multi-Family
Phone 714.964.3311
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