The Growth Investment Group is proud to offer 14030 Dicky Street, a 5-unit apartment property comprised of a single-story layout located in the highly desirable city of Whittier, California. This value-add opportunity is perfect for an investor looking to acquire an apartment property and maximize its income potential. The property has been under the same ownership since 2005 and since then, is the first time being offered for sale. Buyers can quickly add value and increase income by modernizing the unit(s). With only a short distance from PIH Whittier Hospital and Whittier Medical Center it is within excellent proximity to many inevitabilities.
The property features one two-bedroom unit and four one-bedroom units. Four of the five total units feature polished hardwood floors, granite counters and tiled kitchen/restroom. The two-bedroom unit is equipped with a private balcony and enjoys copper water lines and ABS drain lines. There is a back alley surrounded by brick wall which provides tenants access to six (6) garages. Each tenant enjoys one single car garage and there is an extra for the owner which can be rented for additional income. The property has dual pane windows and possibility to add a front yard area for each of the one-bedroom units. None of the units have been extensively upgraded which provides prime opportunity for new ownership to do complete unit upgrades and maximize its income potential.
LOCATION AMENITIES AND ACCESS
Excellent location, this investment maintains excellent proximity to a variety of nearby amenities such as restaurants, shops, schools, college, health care facilities, and entertainment venues. Whittier is located only 25 minutes from downtown Los Angeles and a half hour driving distance from beach communities, hopping and Orange County. It is only 10 minutes from the 5 or the 605 freeways, makes the location easily accessible. Consequently, a large array of very-popular attractions in both the Los Angeles and Orange County regions are easily accessible from Whittier. Some of these include the Disneyland Resort in Anaheim, Knott’s Berry Farm & Knott’s Soak City in Buena Park, Universal Studios in Hollywood, and the Los Angeles Zoo.
Whittier is located about 12 miles southeast of Los Angeles and about 20 miles northwest of Anaheim. The city of Whittier, California is home to Whittier College and Southern California University of Health Sciences. The city was incorporated in 1898, and like many other southern California communities, underwent a population increase following World War II. Whittier experienced an even more rapid population spike starting in the 1990
INVESTMENT HIGHLIGHTS
• Under same ownership since 2005
• Mostly single-story bungalow style layout on 6,907 square foot lot
• Excellent price per unit ($222,000)
• Attractive unit mix of one (1) 2bedroom+1bathroom & four (4) 1bedroom+1bathroom units
• Private enclosed balcony patio area for the 2-bedroom unit
• One parking garage per unit with an extra garage that can be used for additional income
• Hardwood floors, granite counters tiled kitchens and bathrooms in 4 out of the 5 units
• Strong cap rate of 5% on current income with excellent value-add potential
• Close to schools: California High School, Mulberry Elementary, Ceres Elementary and Richard Graves Elementary
• Nearby to PIH Whittier Hospital, Whittier Hospital Medical Center, Trader Joe’s, In N Out, Starbucks, Target, Gateway Plaza, the QUAD, Adventure Park, York Field, and Candlewood Country Club
• Short distance from FWY’s: 5, 605, 105, 60 & 91
PROPERTY HIGHLIGHTS
• Copper water lines & ABS drain lines on upstairs 2bedroom unit
• Dual pane windows
• Owners garage that can be used for additional income
• Single-story bungalow style layout on 4 out of 5 units
• Individual garages for each unit
• Polished wood floors with granite counters in 4 out of the 5 units
• Private balcony for 2-bedroom unit
• Easy access to FWY’s 5, 605, 105, 60 & 91
• Each unit is separately metered for electricity and gas
• Close to PIH Whittier Hospital and Whittier Hospital Medical Center
• Short drive from Trader Joe’s, Food 4 Less, In N Out, The QUAD and Gateway Plaza
• Near York Field, Adventure Park and Candlewood Country Club