11506 Obert Avenue

Whittier, CA 90604

$3,750,000
Price
3
Beds
14
Baths
12,233 Sq. Ft.
$307 / Sq. Ft.
12,233
Sq. Ft.
$307
per Sq. Ft.

Description

The Obert Arms Apartments is a 14-unit apartment asset situated at 11506 Obert Avenue in Whittier, California. The property presents a new buyer with ±18% rental upside potential, with a 6.81% cap rate at market rents. New financing is available at 5.65% with 2 years interest only, 7-year fixed term. The property spans a 17,225-square-foot lot and includes (10) 2BD/1BA units, and (4) 1BD/1BA units. Some of the units feature spacious second-story patios. The building has been updated with new windows...The Obert Arms Apartments is a 14-unit apartment asset situated at 11506 Obert Avenue in Whittier, California. The property presents a new buyer with ±18% rental upside potential, with a 6.81% cap rate at market rents. New financing is available at 5.65% with 2 years interest only, 7-year fixed term. The property spans a 17,225-square-foot lot and includes (10) 2BD/1BA units, and (4) 1BD/1BA units. Some of the units feature spacious second-story patios. The building has been updated with new windows throughout. Residents enjoy ample parking with 16 total spaces and the convenience of onsite laundry facilities, which also present an opportunity for additional income. Located in the desirable, quiet residential neighborhood of Whittier, 11506 Obert Avenue offers small-town charm with easy access to the Greater Los Angeles and Orange County.
  1. Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916
  2. Listed by Alex Figueroa • DRE #01173239 • Brokerage DRE #02034147 • Synergy One Real Estate Ser.

Property Details for 11506 Obert Avenue

Parking Spaces Total
16
Private Pool
No
Total Units
14.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
12233
Assessor Parcel Number
8227-010-020
Property Attached YN
true
LISTING UPDATED: 08/20/2024 05:09 AM

Property Details for 11506 Obert Avenue

StatusActive
MLS #PW24141372
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1962
Lot Size0.40 AC / 17,225 SF
CountyLos Angeles County

Building Information for 11506 Obert Avenue

Stories2Residences-Year Built1962Building Size-Lot Size0.40 AC / 17,225 SF

Property Information for 11506 Obert Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $299,872
  • Gross Scheduled Income: $309,146
  • Net Operating Income: $195,585
  • Gross Multiplier: 12.13
  • Cap Rate: 5.22
Expense Details
  • Operating Expense: $104,287
  • New Taxes Expense: $48,660
  • Gardener Expense: $1,200
  • Fuel Expense: $2,625
  • Licenses Expense: $1,000
  • Pest Control Expense: $500
  • Electric Expense: $2,625
  • Insurance Expense: $12,233
  • Maintenance Expense: $11,000
  • Professional Management Expense: $14,994
  • Other Expense: $4,200
  • Other Expense Description: Reserves
  • Trash Expense: $2,625
  • Water Sewer Expense: $2,625
  • Total Expenses: $104,287
Tax / Assessment Info
  • Tax Tract Number: 26040
  • Tax Census Tract: 5035.01
  • Tax Lot: 15
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 11-15 Units/Acre
  • Number Of Units: 14
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 16
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,624
  • Unit Type Total Rent: $6,495
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,927
  • Unit Type Total Rent: $19,270
  • Unit Type Pro Forma: 2350
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1

Property History for 11506 Obert Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 11506 Obert Avenue

Taxable ValueLand$1,681,885Additions$1,577,107Total$3,258,992
Tax Record2023$40,550 ($3,379 / month)
Home Facts
Total Finished SqFt12,233 SqFtAbove Grade Finished SqFt12,233 SqFtLot Size17,225 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLCR3*CountyLOS ANGELESAPN8227-010-020

Schools near 11506 Obert Avenue

This home is within East Whittier City Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
La Colima Elementary School
PublicK to 5

Granada Middle School
Public6 to 8

La Serna High School
Public9 to 12

Frontier High (Continuation) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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11506 Obert Avenue is a mixed use property for sale in Whittier, CA 90604. This property was listed for sale on July 11, 2024 by Keller Williams - Santa Monica, it's currently listed at $3,750,000. It has been on the market for a total of 58 days and was last sold on February 14, 2024. This listing's school districts are East Whittier City Elementary School District, Whittier Union High School District. Nearby schools include La Colima Elementary School, Granada Middle School and La Serna High School. 11506 Obert Avenue is a 3-bed, 14-bath, 12,233 sqft mixed use property built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379; Synergy One Real Estate Ser., Alex Figueroa, DRE #01173239

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.