7312 Newlin Ave, Whittier, CA 90602
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7312 Newlin Ave Whittier, CA 90602

$1,700,000 Sold Price as of 01/20/2021
  • 11 Beds
  • 7 Baths
  • 5,353 Sq.Ft.
Sold
$1,700,000 Sold Price as of 01/20/2021 Refinance Your Mortgage

Map preview of 7312 Newlin Ave, Whittier, CA 90602

Property Overview: 7312 Newlin Ave Whittier, CA has 11 bedrooms, 7 bathrooms, 5,353 living square feet and 7,001 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: *Great Location in the City of Whittier. The Two-Story 6 Units Well Maintained Apartment Building in An Excellent and High Demand Rental Desirable Neighborhood with Low Vacancy Rate in the City of Whittier (Next to Hacienda Heights , La Habra , Pico Rivera .) Close to Whittier City College . Building Inside Total 5,353 Sq.ft. New Paint on the Building. Newer Windows and Most of the Units have been Renovated. Four Units are All Two Bedrooms with One Bath at Monthly Rent $1,575 to $ 1,675. One Unit is Two Bedrooms with Two Baths at Monthly Rent $1,900, One Unit is One Bedroom with One Bath and Balcony at Monthly Rent $1,595. Individually Laundry Room. Tenants pay for Their Own Gas & Electricity Bills Thru the Individual Meters. Annual Gross Income Approx. $ 121,140, Annual Expense $ 35,591 which includes Property Tax, Insurance , Gardener, Electricity in Common Area, Water, Trash and Management Fee. Annual Net Operating Income Approx. $85,549. Cap Rate: 4.81 % with Current Property Tax Rate. Performa Annual Rental Income will be $130,140. Separate On-Site Washer or Dryer. 6 Cars Garages Parking Spaces in the Back of the Building. Close to Freeway 605 and 60, Shopping Centers , Restaurants & Parks. Tenants with a "Month-To-Month" Lease Which Provides An Investor the Opportunity to Adjust the Rent in the future. Great investment opportunity For The Investor to Keep as a Long Term Investment. *Please Drive-By Only and DO NOT Enter the Building or Disturb Any Tenants*

Listed by Sheng Wang | BRE #01772547 | Century 21 Care
Last checked: 12 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 43

Home details

Lot Sq. Ft
7,001
HOA Dues
$0/mo
Year built
1973
Garage
6 Car
Property Type:
Apartment
Status
Sold
MLS#
TR20181383
City
Whittier
County
Los Angeles
Time on Site
1478 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Leased Units: 6
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # 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: $1,575
  • Total Rent: $1,575
  • Pro Forma/Market Rent: $1,775
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,675
  • Total Rent: $5,025
  • Pro Forma/Market Rent: $1,775
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,900
  • Total Rent: $1,900
  • Pro Forma/Market Rent: $2,050
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,595
  • Total Rent: $1,595
  • Pro Forma/Market Rent: $1,695
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.81%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $121,140
  • Net Operating Income: $85,549
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $35,591
  • Electric: $656
  • Gas/Fuel: $1,618
  • New Taxes: $20,688
  • Trash: $2,017
  • Gardener: $1,200
  • Insurance: $3,600
  • Professional Management: $4,200
  • Water/Sewer: $1,612

Property Details for 7312 Newlin Ave

Interior Features
Laundry Information
  • Has Laundry
  • Individual Room
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 6
  • # of Parking Spaces: 6
  • No
  • Parking Features: None
Lot Information
  • Lot Features: Flag Lot
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 6
  • Parcel Number: 8141006024
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Mar Vista St & Painter Ave - Close to Whittier City College
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Whittier Agent

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Sale History for 7312 Newlin Ave

Last sold for $1,700,000 on January 20th, 2021
  • January, 2021

  • Jan 21, 2021

    Date

    Sold

    CRMLS: TR20181383

    $1,700,000

    Price

  • Dec 7, 2020

    Date

    Pending

    CRMLS: TR20181383

    $1,780,000

    Price

  • Sep 2, 2020

    Date

    Active

    CRMLS: TR20181383

    $1,780,000

    Price

  • January, 2021

  • Jan 19, 2021

    Date

    Sold (Public Records)

    Public Records

    $1,700,000

    Price

  • October, 2018

  • Oct 15, 2018

    Date

    Sold

    CRMLS: PW18171067

    $1,525,000

    Price

  • Aug 20, 2018

    Date

    Pending

    CRMLS: PW18171067

    $1,525,000

    Price

  • Jul 17, 2018

    Date

    Active

    CRMLS: PW18171067

    $1,525,000

    Price

  • Listing provided courtesy of CRMLS

    Newlin Apartments is located in the strong rental market of Whittier just steps away from the city's uptown attractions. The property is recognized for its key proximity to local charms such as Starlight Whittier Village Cinemas, Friendly Hills Country Club, and Penn Park. Tenants can enjoy easy and convenient access to the 605, 5, and 91 freeways. The property presents 30% upside in rents, over a 5.50% CAP on market rents, and a majority large 2 bedroom units.

  • October, 2018

  • Oct 10, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,525,000

    Price

Show More

Tax History for 7312 Newlin Ave

Assessed Value (2020): $1,555,500
Year Land Value Improved Value Assessed Value
2020 $999,600 $555,900 $1,555,500

Home Value Compared to the Market

This property vs the competition

7312 Newlin Ave sold on January 20, 2021 for 110.65% higher than the current median sold price for the city of Whittier which is $845,000. The median sold price per/sqft for Whittier is $588 and this home is sold at $332.52 per/sqft which puts the price per square foot 43.45% lower than the current median sale per square foot for the city of Whittier.

About 7312 Newlin Ave

Detailed summary of property

7312 Newlin Ave is a apartment that recently sold in Whittier, CA 90602. This apartment offered 11 bedrooms, 7 bathrooms, roughly 5,353 living square feet, and sits on an approximately 7,001 square foot lot. 7312 Newlin Ave was first listed on ArdentRealEstateGroup.com on September 2, 2020. The homeowner sold the property for $1,700,000. Home in Whittier are selling for a median price of $845,000 and a median price per square foot of $588. Based on Ardent Real Estate Group's Whittier Market Data, this home is sold 110.65% higher than the current median priced home. Local homes that are currently for sale include 7545 Jackson Way, 2400 S Ridgewood Dr and 3217 W Cabot Dr. While the average home in Whittier, CA is selling in 61 days, 7312 Newlin Ave has a days on market of 43 days. There are currently 246 homes for sale in the Whittier real estate market and 200 of them are single family homes while 30 of them are condos and 16 are townhomes. For more information on this home for sale at 7312 Newlin Ave Whittier, CA 90602 contact Ardent Real Estate Group and we will put you in touch with one of our Whittier agents.

Public Facts for 7312 Newlin Ave

Public county record property details
Beds
11
Baths
7
Year built
1973
Sq. Ft.
5,353
Lot Size
7,001
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
15-16
APN
8141-006-024

The source for these homes facts are from public records.

90602 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$869,999
Median List Price/Sq.Ft.
$538
Median Sold Price
$930,000
Median Sold Price/Sq.Ft.
$514
Total Inventory
32
Median Sale to List Price %
103.45%
Avg Days on Market
28
Loan Type
Conventional (50%), FHA (8.33%), VA (8.33%), Cash (8.33%), 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.