We are pleased to present the Milton Apartments, an 8-unit multi-family property located at 7624 Milton Ave in Whittier, California. Built in 1963, the subject property consists of 5,374 rentable square feet that is spread throughout a .16 acre lot. The building consists of a desirable unit mix of (4) 1-Bedroom / 1-Bathroom and (4) 2-Bedroom / 1-Bathroom units. Additionally, the property is situated with a shared laundry room, 1 open covered carport and 7 single car garages as parking spaces available for resident convenience.
Whittier's continued strong rental metrics, including a 2023 vacancy rate of just 2.9 percent and year-over-year rent growth of 9.7 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, the property represents an attractive value-add opportunity for a new owner.
7624 Milton Ave is ideally located in a vibrant and desirable area. One of its key strengths is its close proximity to Uptown Whittier, a lively district known for its historic charm, eclectic mix of shops, restaurants, and entertainment venues. This prime location provides residents and businesses with easy access to the cultural and social hub of Uptown Whittier, enhancing the appeal of the area. Additionally, the location offers excellent connectivity to major freeways and public transportation, making commutes and travel convenient.
This is an absolutely incredible opportunity to acquire a highly desirable multi-family asset in one of the most accessible locations in the city and would be a great addition to any investor's portfolio.