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13423 Olive Dr, Whittier, CA 90601
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13423 Olive Dr Whittier, CA 90601

$1,275,000 Sold Price as of 02/23/2024
  • 8 Beds
  • 4 Baths
  • 2,670 Sq.Ft.
Sold
$1,275,000 Sold Price as of 02/23/2024 Refinance Your Mortgage
Map preview of 13423 Olive Dr, Whittier, CA 90601

Property Overview: 13423 Olive Dr Whittier, CA has 8 bedrooms, 4 bathrooms, 2,670 living square feet and 5,788 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to exclusively offer for sale this 4 Unit Multi-Family investment located in the unique 90601 submarket of Whittier. This 5,788 SF lot is steps away from Whittier College and strategically positioned near Uptown Whittier. Within the last (3) years there have been only 5 other 4-Unit properties sold within a half mile. In addition to the building’s excellent location, one of the features is (3) fully remodeled units, including one upstairs that was completed in 2023. The building has been outfitted with copper plumbing and new electrical throughout and (2) of the units are equipped with tankless water heaters. Further, (2) additional units have been upgraded totaling 3 remodeled units. Along these lines, the property presents itself as an excellent Owner User opportunity for Buyer(s) looking to live in one of the units while utilizing the income from the other (3) to offset their annual debt service. As it stands, the offering presents strong day 1 income with a current CAP Rate of 4.61% and future upside with a pro forma CAP Rate of 6.41%. In addition, the tenants have access to a back lot equaling at least (4) Total Parking Spaces on site, which is especially significant in this parking impacted submarket. On top of this, there is a large back yard that is ideally suited for an ADU for investors looking to increase their annual Cash Flow. All in all, the building’s close proximity to Whittier College, Uptown Whittier, etc. and the vast dining, shopping, and entertainment options therein provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.

Listed by Keaton Quaack | BRE #02172607 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Joshua Barut | BRE #01971720 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 1 minute ago | Last updated: February 26th, 2024 | Source CRMLS | DOM: 111

Home details

Lot Sq. Ft
5,788
HOA Dues
$0/mo
Year built
1903
Garage
--
Property Type:
Fourplex
Status
Sold
MLS#
SB23148269
City
Whittier
County
Los Angeles
Time on Site
328 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $2,250
  • Pro Forma/Market Rent: $2,475
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,475
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,900
  • Total Rent: $1,900
  • Pro Forma/Market Rent: $2,475
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $2,475
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.61%
  • Gross Rent Multiplier: 15.25
  • Gross Scheduled Income: $91,500
  • Net Operating Income: $64,247
  • Gross Operating Income: $86,925
Annual Expense Breakdown
  • Total Operating Expense: $22,678
  • Electric: $3,200
  • Gas/Fuel: $0
  • Trash: $3,200
  • Insurance: $1,068
  • Water/Sewer: $3,200

Property Details for 13423 Olive Dr

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • No Laundry
  • None
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Wood
Kitchen Information
  • Has Appliances
  • Gas Oven, Gas Cooktop, Microwave, Range Hood, Refrigerator, Water Heater
Interior Features
  • Granite Counters, Open Floorplan
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Composition, Shingle
  • Rain Gutters
  • Has Fence
  • Wood
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Driveway, Concrete, Paved, Driveway Up Slope From Street, On Site, Parking Space, Private, Side by Side
Lot Information
  • Lot Features: Front Yard, Landscaped, Rectangular Lot, Yard
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: Courtyard, Hills, Neighborhood
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 8138001004
  • Year Built Source: Public Records
  • Architectural Style: Craftsman
  • Entry Level: 2
  • Property is Attached
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Directions: On Olive Dr and Painter Ave
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Biking, Curbs, Foothills, Golf, Hiking, Storm Drains
View more facts & features

Local Whittier Agent

Sale History for 13423 Olive Dr

Last sold for $1,275,000 on February 23rd, 2024

  • February, 2024

  • Feb 23, 2024

    Date

    Sold

    CRMLS: SB23148269

    $1,275,000

    Price

  • Aug 9, 2023

    Date

    Active

    CRMLS: SB23148269

    $1,395,000

    Price

  • March, 2019

  • Mar 29, 2019

    Date

    Sold

    CRMLS: OC19011636

    $868,000

    Price

  • Mar 12, 2019

    Date

    Pending

    CRMLS: OC19011636

    $925,000

    Price

  • Feb 28, 2019

    Date

    Active Under Contract

    CRMLS: OC19011636

    $925,000

    Price

  • Jan 16, 2019

    Date

    Price Change

    CRMLS: OC19011636

    $925,000

    Price

  • Jan 16, 2019

    Date

    Active

    CRMLS: OC19011636

    $902,500

    Price

  • Listing provided courtesy of CRMLS

    American Pacific Realty is pleased to exclusively present this 4-unit multifamily offering located at 13423 Olive Drive, Whittier, California 90601. This property consists of 2-bedroom, 1-bathroom units down stairs that are approximately 700 sq. ft., and 2 upstair units that are approximately 700 sq. ft. plus a loft that is approximately 130 sq. ft. The units are in average condition with below market rents. The plumbing has been changed to copper and the electrical has been updated. This property is a great added value opportunity for the next owner to renovate the units and increase the rents. Built in 1903, this property offers a new owner the ability to take over a property that is historically one hundred percent occupied and has been well-maintained. It is located across the street from the Shannon Center a performing arts theater at Whittier College. A short drive from Interstate 605 (San Gabriel Freeway), this offering is conveniently located near shopping restaurants and recreational facilities.

  • March, 2019

  • Mar 28, 2019

    Date

    Sold (Public Records)

    Public Records

    $868,000

    Price

  • February, 2016

  • Feb 29, 2016

    Date

    Sold (Public Records)

    Public Records

    $740,000

    Price

Show More

Tax History for 13423 Olive Dr

Assessed Value (2020): $831,300
Year Land Value Improved Value Assessed Value
2020 $413,100 $418,200 $831,300

Home Value Compared to the Market

This property vs the competition

13423 Olive Dr sold on February 23, 2024 for 70.64% higher than the current median sold price for the city of Whittier which is $817,500. The median sold price per/sqft for Whittier is $554 and this home is sold at $522.47 per/sqft which puts the price per square foot 5.69% lower than the current median sale per square foot for the city of Whittier.

About 13423 Olive Dr

Detailed summary of property

13423 Olive Dr is a fourplex that recently sold in Whittier, CA 90601. This fourplex offered 8 bedrooms, 4 bathrooms, roughly 2,670 living square feet, and sits on an approximately 5,788 square foot lot. 13423 Olive Dr was first listed on ArdentRealEstateGroup.com on August 10, 2023. The homeowner sold the property for $1,275,000. Home in Whittier are selling for a median price of $817,500 and a median price per square foot of $554. Based on Ardent Real Estate Group's Whittier Market Data, this home is sold 70.64% higher than the current median priced home. Local homes that are currently for sale include 414 S Ford Blvd, 4537 E Cesar E Chavez Ave and 607 N Harbor Blvd. While the average home in Whittier, CA is selling in 52 days, 13423 Olive Dr has a days on market of 111 days. There are currently 231 homes for sale in the Whittier real estate market and 190 of them are single family homes while 27 of them are condos and 14 are townhomes. For more information on this home for sale at 13423 Olive Dr Whittier, CA 90601 contact Ardent Real Estate Group and we will put you in touch with one of our Whittier agents.

Public Facts for 13423 Olive Dr

Public county record property details
Beds
8
Baths
4
Year built
1903
Sq. Ft.
2,670
Lot Size
5,787
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
3
APN
8138-001-004

The source for these homes facts are from public records.

90601 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$775,000
Median List Price/Sq.Ft.
$504
Median Sold Price
$810,000
Median Sold Price/Sq.Ft.
$515
Total Inventory
60
Median Sale to List Price %
100%
Avg Days on Market
24
Loan Type
Conventional (45%), FHA (10%), VA (0%), Cash (15%), Other (25%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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