10701 La Mirada Blvd Whittier, CA 90604-1522

Property Details for 10701 La Mirada Blvd

Year built

1966

Construction

WOOD

Lot size

1.61 lot acres

Property size

21,330 SF

Zone code

LCC2BE*

Property type

Retail space

APN

8226-022-042

APU

8226022042

Description

This exceptional 20,288 square foot shopping center in Whittier, CA (Los Angeles County), presents a compelling value-add opportunity. Located at the signalized intersection of La Mirada Boulevard and Mulberry Drive (40,000 cars per day), this single-story, 14-unit property boasts a strong tenant mix of daily needs businesses, including a liquor store, restaurants, and personal services. Currently 85% occupied, the property offers a 6.97% cap rate with a pro-forma cap rate of 7.51% upon lease-up of the single vacant unit. The asking price is $5,290,000, translating to $260.75 per square foot. Built in 1966, the property sits on a 70,264 square foot lot and is zoned C2-BE. The Net Operating Income (NOI) is currently $368,652, projected to increase to $397,434 with full occupancy. Unit sizes range from 700 to 3,000 square feet. This property benefits from a densely populated area with a high average household income (under 500,000 population within 5 miles, average household income of $122,000). The property is a triple-net (NNN) lease structure. Recent leasing activity indicates strong market demand. This is an ideal investment for those seeking immediate cash flow and significant upside potential. The property's location in a thriving suburban area, combined with its strong tenant base and value-add potential, makes it a highly attractive investment opportunity.

Location Insight

City

Whittier

County

Los Angeles

State

California

Longitude

-118.013

Latitude

33.9358

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments