7615 Bright Avenue consists of one 7-unit building built in 1971. The property offers 6 spacious 1 bed/ 1 bath units & 1 large 3 bed/ 2 bath unit, all come with a wall-mounted HVAC unit. There is ample onsite parking that includes 1 two car garage, one single-car garage, and seven carports. The complex has a small private laundry facility. All units are separately metered for gas and electricity which keeps landlord operating expenses to a minimum. The property is in close proximity to the Whittier Library, Community Center, City Hall, Turnbull Canyon hiking/biking trail, and Whittier College. Current ownership has maintained the rental rates well below the market level and with the right strategy and approach, a new investor can take advantage of a significant repositioning opportunity. This would be a fantastic addition to any investor’s portfolio.
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Listing courtesy of Philip Nastasi of Rodeo Realty
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Building Size: 4,759 Sq. Ft.
Lot Size: 7,147 Sq Ft.
Cap Rate: 2.98%
Price Per Sq Ft: $276.32
Address: 7615 Bright Ave.
Year Built: 1971
Price Per Unit: $187,857
Parking: Garage & Carport