Shire Place Apartments 10736-10742 Shire Pl 16 Unit Apartment Building $3,500,000 ($218,750/Unit) 5.87% Cap Rate Whittier, CA 90601
INVESTMENT HIGHLIGHTS
- Phenomenal Uptown Whittier Location
- Large Floorplans Surrounding Expansive Landscaped Courtyard
- 50% Upside on Rents for a New Owner
- Half 1-Bedroom/1-Bath & Half 2-Bedroom/1.5-Bath Units with Garages
- Priced at $218,750/Unit & $274/SF
EXECUTIVE SUMMARY
The Shire Place Apartments offer an investor the opportunity to acquire 16 units in the affluent rental market of Uptown Whittier. The property offers an appealing unit mix of large 1-bedroom/1-bath and 2-bedroom/1.5-bath units surrounding a large grass common area courtyard. Residents enjoy plenty of garage and open parking, air conditioning and access to two on-site laundry rooms.
The city of Whittier has become a dynamic, thriving community, and multifamily owners have benefitted from rapidly increasing rents as demand far outpaces supply. Aside from enjoying everything the city has to offer with its impressive urban renewal, tenants have quick and easy access to all Los Angeles area freeways and employment centers.
Please email listing broker for an offering memorandum or more information.
The city of Whittier has become a dynamic, thriving community, and multifamily owners have benefitted from rapidly increasing rents as demand far outpaces supply. Aside from enjoying everything the city has to offer with its impressive urban renewal, tenants have quick and easy access to all Los Angeles area freeways and employment centers.
Please email listing broker for an offering memorandum or more information.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$302,688
|
$15.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$9,080
|
$0.46
|
| Effective Gross Income |
$293,608
|
$14.96
|
| Taxes |
$44,724
|
$2.28
|
| Operating Expenses |
$43,379
|
$2.21
|
| Total Expenses |
$88,103
|
$4.49
|
| Net Operating Income |
$205,505
|
$10.47
|
PROPERTY FACTS
| Price | $3,500,000 |
| Price Per Unit | $218,750 |
| Sale Type | Investment |
| Cap Rate | 5.87% |
| Gross Rent Multiplier | 11.56 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 19,622 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.38/1,000 SF |
SITE AMENITIES
- Laundry Facilities
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 650 |
| 2+1.5 | 8 | - | 900 |
1 of 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 8129-030-032 | Total Assessment | $2,644,011 |
| Land Assessment | $1,081,640 | Annual Taxes | $44,724 ($2.28/SF) |
| Improvements Assessment | $1,562,371 | Tax Year | 2024 |
