13705 Franklin St Whittier, CA 90602-1857

Property Details for 13705 Franklin St

Year built

1974

Construction

WOOD

Lot size

0.31 lot acres

Property size

11,400 SF

Zone code

WHR3*

Property type

Apartment buildings

APN

8142-001-032

APU

8142001032

Description

This exceptional 20-unit apartment building presents a compelling investment opportunity in the desirable Whittier, CA market. Located at 13705 Franklin Street, this three-story building boasts 11,400 square feet on a 13,556 square foot lot. Built in 1974, the property features 20 one-bedroom, one-bathroom units, each with separately metered electricity. Ample parking is provided with 27 spaces, including 19 covered spots. Recent upgrades significantly enhance the property's value and appeal, including a new roof (January 10, 2024), a new water heater (July 2, 2024), and exterior/deck repainting (August 23, 2024). Enhanced security features include an electronic vehicle entry gate and locked building gates (February 7, 2022). An on-site laundry room generates additional income. The property's prime location offers exceptional convenience, with proximity to Whittier College (less than 0.5 miles), Penn Park (0.5 miles), Whittier Police Department and City Hall (0.3 miles), and The Quad at Whittier shopping center (1.2 miles). The asking price is $4,950,000, representing a price per unit of $247,500 and a price per square foot of $434.21. The property enjoys a strong Net Operating Income (NOI) of $295,186, translating to a 5.96% cap rate. This is a rare opportunity to acquire a well-maintained, income-producing asset in a thriving location. The property's strong performance and recent improvements make it an ideal addition to any investment portfolio. APN: 8142-001-032.