8216 Painter Ave, Whittier, CA 90602

Property Description

We are proud to exclusively offer WHITTIER COURTYARD – 8216-26 Painter Ave, a 9-unit beautiful garden style apartment investment opportunity located in the City of Whittier, CA. The property is strategically located less than a mile from Whittier City Hall, Whittier College and Uptown Whittier area. It is also a walking distance to Quad at Whittier shopping center (±400,000 SF destination center which housed Ralphs, Burlington Coat Factory, Rite Aid, Ross, TJ Maxx, Staples, Petco, Big 5, Old Navy, Olive Garden, Baja Fresh, Chili’s and other local/ national retailers). It is minutes away from Whittier Hospital and the Whittwood Town Center (a shopping center which includes JCPenney, Sears, Target, Kohl’s, PetSmart, Black Angus Steakhouse, Panera Bread and many more). WHITTIER COURTYARD is a pride-of-ownership attractive two-story garden style apartment that is situated on an oversized lot of ±24,698 SF. It is a corner lot on Ramona Dr, a quiet tree-lined single family residential area. It has a lush and expansive landscaping that offers a future expansion opportunity (ADUs) and wonderful living atmosphere for tenants. The property was built in 1952 and has 2 separate buildings. The main building is a single-story apartment that has 5 units, and the 2nd building is a 2-story apartment with 4 units. The building offers an excellent unit mix of 1 x 2bed+2bath, 4 x 2bed+1bath, 2 x 1bed+1bath and 2 x studio units. Many of the tenants are longtime tenants that are month to month which offers an excellent value add upside potential. The 2bed+2bath unit have been fully upgraded with new flooring, new kitchen with quartz countertops and new cabinets, new bathroom with tiled shower and new bathtub, central A/C and heating. There are 12 parking spaces provided by 3 garages and 9 carports. The property is separately metered for electricity and gas. It has shared laundry room. The 2-story building has been earthquake retrofitted sometimes in 2018. Because of the large lot size and its SP zoning (Whittier Blvd Specific Plan), there is a high probability that new owner can add multiple units to this parcel.