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$2,900,000
Est. payment /mo
0.26 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV25113370
HOA Y/N No
Year Built 1960
Lot Size 0.257 Acres
Property Sub-Type Multi Family
Property Description
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 includes (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 5.30% CAP and 12.19 GRM on current rents, the property offers solid in-place income, with projected stabilization at 6.34% CAP and 10.73 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.
Location
State CA
County Los Angeles
Area 670 - Whittier
Interior
Fireplace No
Laundry Laundry Room
Building
Lot Description Near Public Transit, Paved, Walkstreet
Story 2
Water Public
Others
Tax ID 8150004004
Special Listing Condition Trust
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Listed by DANIEL REILLY CLEAR PATH REALTY 951-906-3859