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Listed by DANIEL REILLY • CLEAR PATH REALTY
$ 2,900,000
Est. payment | /mo
0.26 Acres Lot
$ 2,900,000
Est. payment | /mo
0.26 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRIV25065319
Year Built 1960
Lot Size 0.257 Acres
Source California Regional MLS
Property Description
9025 Mills Ave checks the right boxes. No local rent control, steady income, and headache-free operations in a reliable pocket of LA County. Offered to the market for the first time in over 30 years, 9025 Mills Avenue is a well-maintained 10-unit complex in East Whittier, that offers both stable income and a convenient location. Built in 1960, the property includes (4) 2-bdrm. units and (6) 1-bdrm. units, that have been consistently maintained by long-term ownership. All units feature dual-pane windows, and select units have balconies or patios. Offered at a 5.30% CAP and 12.19 GRM on current rents, the property offers solid in-place income, with projected stabilization at 6.34% CAP and 10.73 GRM after interior updates. Market rents in the area support approx. 13% rental upside. 9025 Mills is not subject to local rent control, allowing for full CPI-based increases under statewide AB 1482 guidelines (currently 8.8% - buyer to verify). Located just south of Whittier Blvd, 9025 Mills is walkable to a mix of cafes, grocers, and daily retail. It's also just over a mile from both The Quad at Whittier and Whittwood Town Center, two of the city's largest shopping hubs. In addition, the property is located 0.5 miles from Whittier Hospital Medical Center (employs approx. 3,700 people). For
Location
State CA
County Los Angeles
Area 670 - Whittier
Interior
Cooling Window / Wall Unit
Laundry In Laundry Room
Exterior
Garage Spaces 10.0
Pool None
Building
Water District - Public
Others
Tax ID 8150004004
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Yuri Lavrentiev
REALTOR® | Lic# CA DRE #02103193