The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 31, 2020
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Buyer Spends $5.3 Mil on Whittier Multifamily Property


A local private investor paid $5.3 mil for Friendly Hills Apartment Homes, a 21-unit ($252k/unit) res property in Whittier. From what we understand, this was the first time the property had been on the market since it was built in 1960.

Located at 10101 Santa Gertrudes Ave, the 17.7k sf site is nestled at the foothills of the affluent Friendly Hills neighborhood and in proximity to the Whittwood Towne Center that includes many major retailers.

CBREs Dan Blackwell and Sean Farag represented the buyer and the seller, a family trust. The property traded at $298 per square foot and a 3.25 % cap rate on current income.

We were able to generate multiple competitive offers for this value-add asset, said Blackwell. The buyer resides and owns other investment property in the area, making it a perfect fit for their portfolio.

He added, The new owner promptly started his renovation plan upon closing of escrow and looks to quickly achieve the potential of this property, which is ideally located between the LA and OC counties and presents the opportunity for continuous demand and a steady income stream.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media