11506 Obert Ave, Whittier, CA 90604-2853
- Apartment buildings
- 12,233 SF
- 0.40 lot acres
Current Use by Public Records
- Obert arms apt / Apartment Complex
Property Details for 11506 Obert Ave
- Year built
- 1962
- Construction
- WOOD
- Lot size
- 0.40 lot acres
- Zone code
- LCR3*
- Property type
- Apartment buildings
- APN
- 8227-010-020
- APU
- 8227010020
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 29, 2025 | $3,500,000 | Filza Khan | Fc Obert 14 LLC | Grant Deed | — |
| Aug 29, 2025 | — | Sahar Khan | Munir Maaz | Deed · related | — |
| Feb 14, 2024 | $3,190,000 | Fc Obert 14 LLC | Pi Properties No 54 LLC | Grant Deed | $2.1M · Ctbc Bank Corp USA |
| Mar 12, 2020 | — | Pi Properties No 54 LLC | — | Deed · related | $2M · First Foundation Bank |
| Jan 7, 2020 | $3,100,000 | Pi Properties No 54 LLC | 11506 LLC | Grant Deed | — |
| Oct 30, 2019 | — | 11506 LLC | A A S W Alliance LLC | Grant Deed | $2.1M · Homestreet Bank |
| Aug 20, 2018 | $3,350,000 | Aasw Alliance LLC | Patterson Trust | Grant Deed | $2.5M · Patterson Trust (pt) |
| Apr 18, 1994 | — | Patterson Frank | Patterson,f W&m | Quit Claim Deed · related | — |
| — | — | Frank W Patterson | — | Deed Of Trust · related | $385k · American Savings Bank |
| — | — | Patterson Trust | — | Deed Of Trust · related | $618k · Washington Mutual Fsb |
| — | — | Patterson,tr | — | Deed Of Trust · related | $610k · Washington Mutual Fsb |
Description
This exceptional 14-unit apartment building, located at 11506 Obert Avenue in Whittier, California, presents a compelling investment opportunity. The property, built in 1962, boasts a total of 12,233 square feet on a 17,225-square-foot lot. The building comprises ten 2-bedroom, 1-bathroom units and four 1-bedroom, 1-bathroom units, some featuring spacious second-story patios. Recent upgrades include new windows throughout the property. Residents benefit from ample parking with 14 spaces and convenient on-site laundry facilities, offering potential for increased revenue. The current Net Operating Income (NOI) is $197,082, yielding a 5.55% cap rate. However, a significant upside exists, with a pro-forma NOI of $251,680 and a pro-forma cap rate of 7.09% achievable at market rents, representing approximately 18% rental upside. The asking price is $3,550,000, translating to $253,571.43 per unit and $290.20 per square foot. This property is situated in a desirable, quiet residential neighborhood in Whittier, offering a blend of small-town charm and easy access to the larger Los Angeles and Orange County areas. New financing is available at a 5.65% interest rate. The property's prime cul-de-sac location adds to its appeal. This is a rare opportunity to acquire a well-maintained multifamily property with substantial growth potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,190,000
- ML approach
- $3,190,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,280,000
- 6.5%
- $3,030,000
- 7%
- $2,810,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,237,000
Market price range: $1.62M - $4.24M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $3,025,000 Current use
- AUTO REPAIR, GARAGE
- $4,775,000 Change: +58% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $4,430,000 Change: +47% Conversion: Difficult
- OFFICE BUILDING
- $3,760,000 Change: +24% Conversion: Moderate
- RETAIL STORES
- $3,580,000 Change: +18% Conversion: Difficult
- WAREHOUSE, STORAGE
- $3,425,000 Change: +13% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Whittier
- County
- Los Angeles
- State
- California
- Longitude
- -118.021
- Latitude
- 33.9258
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
