12103 Burgess Avenue, Whittier, California 90604, Whittier, 90604 - bed, bath

12103 Burgess Avenue, Whittier, California 90604 home-pic-0
ACTIVE$1,025,000
12103 Burgess Avenue, Whittier, California 90604
0Bed
0Bath
1,960Sqft
17,593Lot
Year Built
1962
Close
-
List price
$1.02M
Original List price
$1.02M
Price/Sqft
$523
HOA
-
Days on market
-
Sold On
-
MLS number
PW24229029
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.02M(50th), sqft - 1960(50th), beds - undefined(50th), baths - undefined(50th).

This is an outstanding investment opportunity in a prime location! Situated on a massive 17,000+ sqft lot, this property features two detached units, each offering a 2-bedroom, 1-bathroom layout that is perfect for long-term rental income. Both units are in excellent condition with recent updates, including modern laminated flooring, updated kitchens, and bathrooms. Currently, each unit generates a solid monthly income of $2,200, providing a reliable cash flow for investors. The units are spacious, well-maintained, and move-in ready, making them attractive to quality tenants. The property boasts a long, expansive driveway that can comfortably accommodate more than 7 vehicles, which is a rare feature in this area. This ensures ample parking space for tenants or guests and adds to the property's value. Additionally, the lot includes 3 storage units located at the rear of the property. These units are currently being used as living spaces by tenants but will be vacant and restored to their original storage-use status prior to the close of escrow. These storage units provide further potential for rental income down the road, either as additional storage or possibly even converted into more rental units (subject to zoning and permits). The expansive lot provides ample room for future development, expansion, or creative use, offering endless possibilities for the discerning investor. Whether you're looking for steady rental income from the two units or potential future growth from the large lot and storage units, this property represents a fantastic opportunity with substantial upside. Don't miss out on this rare find!

Price History

Date
Event
Price
11/07/24
Listing
$1,025,000
05/11/04
Sold
$450,000
Condition Rating
Good

Despite being built in 1962, the property has undergone recent and significant interior renovations, as explicitly stated in the description and visually confirmed by the images. Both units feature updated kitchens with modern appliances and countertops, and updated bathrooms with contemporary fixtures and tiling. The flooring is modern laminate and tile throughout. All visible components appear well-maintained and move-in ready, aligning with the 'Good' condition criteria for a property extensively renovated within the last 5-15 years.
Pros & Cons

Pros

Strong Rental Income: Two detached 2-bedroom, 1-bathroom units currently generate a reliable $4,400/month, providing immediate and stable cash flow for investors.
Significant Development Potential: A massive 17,000+ sqft lot offers ample space for future expansion, additional units, or creative development, subject to local zoning and permits.
Updated & Tenant-Ready Units: Both units are in excellent condition with recent updates, including modern laminated flooring, updated kitchens, and bathrooms, ensuring high tenant appeal and low immediate maintenance.
Abundant Parking: An expansive driveway provides comfortable parking for more than 7 vehicles, a rare and highly desirable amenity for multi-unit properties in this area.
Future Income Upside: Three additional storage units, once vacated and restored to their original use, present opportunities for further rental income or potential conversion into additional units (subject to permits).

Cons

Current Storage Unit Misuse: Storage units are currently occupied as living spaces and require vacating and restoration to their original storage-use status prior to close of escrow, indicating a potential compliance issue and management task for the buyer.
Age of Property: Built in 1962, the property's underlying infrastructure (e.g., plumbing, electrical, roof) may be original or older, potentially requiring significant capital expenditures in the future despite recent interior updates.
Development Contingencies: Any future development or conversion of storage units into additional rental units is explicitly 'subject to zoning and permits,' introducing uncertainty, potential costs, and delays for investors.

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