7624 Milton Avenue

Whittier, CA 90602

$1,785,000
Last Sold Price
3
Beds
8
Baths
5,374 Sq. Ft.
$332 / Sq. Ft.
5,374
Sq. Ft.
$332
per Sq. Ft.

Description

We are pleased to present the Milton Apartments, an 8-unit multi-family property located at 7624 Milton Ave in Whittier, California. Built in 1963, the subject property consists of 5,374 rentable square feet that is spread throughout a .16 acre lot. The building consists of a desirable unit mix of (4) 1-Bedroom / 1-Bathroom and (4) 2-Bedroom / 1-Bathroom units. Additionally, the property is situated with a shared laundry room, 1 open covered carport and 7 single car garages as parking spaces available...We are pleased to present the Milton Apartments, an 8-unit multi-family property located at 7624 Milton Ave in Whittier, California. Built in 1963, the subject property consists of 5,374 rentable square feet that is spread throughout a .16 acre lot. The building consists of a desirable unit mix of (4) 1-Bedroom / 1-Bathroom and (4) 2-Bedroom / 1-Bathroom units. Additionally, the property is situated with a shared laundry room, 1 open covered carport and 7 single car garages as parking spaces available for resident convenience. Whittier’s continued strong rental metrics, including a 2023 vacancy rate of just 2.9 percent and year-over-year rent growth of 9.7 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.
7624 Milton Ave is ideally located in a vibrant and desirable area. One of its key strengths is its close proximity to Uptown Whittier, a lively district known for its historic charm, eclectic mix of shops, restaurants, and entertainment venues. This prime location provides residents and businesses with easy access to the cultural and social hub of Uptown Whittier, enhancing the appeal of the area. Additionally, the location offers excellent connectivity to major freeways and public transportation, making commutes and travel convenient. This is an absolutely incredible opportunity to acquire a highly desirable multi-family asset in one of the most accessible locations in the city and would be a great addition to any investor’s portfolio.
  1. Listed by Ryan Gonzalez • DRE #01874815 • Brokerage DRE #00530854 • Marcus & Millichap • rgonzalez@marcusmillichap.com

Property Details for 7624 Milton Avenue

Parking Spaces Total
8
Private Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5374
Assessor Parcel Number
8141-014-021
Property Attached YN
true
LISTING UPDATED: 10/22/2024 10:09 AM

Property Details for 7624 Milton Avenue

StatusClosed
MLS #PW24171822
Days on Market31
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
CountyLos Angeles County

Building Information for 7624 Milton Avenue

Building/Complex7624 Milton AveFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1963Building Size-

Property Information for 7624 Milton Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $119,267
  • Gross Scheduled Income: $119,267
  • Vacancy Allowance: 3578
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $116,049
  • Net Operating Income: $63,267
  • Gross Multiplier: 14.67
  • Cap Rate: 3.62
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $52,783
  • Operating Expense Percent: 44.26%
  • Fuel Expense: $1,900
  • Electric Expense: $1,900
  • Insurance Expense: $5,105
  • Professional Management Expense: $5,802
  • Trash Expense: $1,900
  • Water Sewer Expense: $1,900
  • Total Expenses: $52,783
Tax / Assessment Info
  • Tax Block: 4
  • Tax Tract Number: 501803
  • Tax Census Tract: 5018.03
  • CFD/Mello-Roos Fee: $2,988
  • Tax Lot: 20
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Unknown
  • Water Source: Public
Parking Info
  • Garage Spaces: 7
  • Parking: Yes
  • Parking Garage: Carport, Garage
  • Parking Garage Spaces: 7
  • Carport Spaces: 1
  • Parking Features: Carport, Garage
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: 3
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,152
  • Unit Type Total Rent: $4,152
  • Unit Type Pro Forma: 7400
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 4
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $5,787
  • Unit Type Total Rent: $5,787
  • Unit Type Pro Forma: 9000
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1

Property History for 7624 Milton 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 7624 Milton Avenue

Taxable ValueLand$744,877Additions$500,335Total$1,245,212
Tax Record2024$16,934 ($1,411 / month)
Home Facts
Total Finished SqFt5,374 SqFtAbove Grade Finished SqFt5,374 SqFtLot Size7,001 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningWHR4*CountyLOS ANGELESAPN8141-014-021

Schools near 7624 Milton Avenue

This home is within 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
Lydia Jackson Elementary School
PublicK to 5

Walter F. Dexter Middle School
Public6 to 8

Whittier High School
Public9 to 12

Sierra Vista High (Alternative) 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Marcus & Millichap, Ryan Gonzalez, DRE #01874815

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.