14149 Mulberry Dr

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Address: 14149 Mulberry Dr, Whittier, California, US
Created date: July 10, 2023
Date last updated: September 27, 2023
  • Excellent Mix of One, Two, & Three-Bedroom Floor Plans
  • Substantial Upside Potential Through Continuation of In-Place Renovation Plan
  • Security Doors & Controlled Access
  • Ample Surface & Carport Parking
  • Spacious Courtyard With a Swimming Pool & On-Site Laundry
  • Within Walking Distance of Mulberry Elementary School & California High School
  • Close to the Quad at Whitter, Gateway Plaza, & Santa Fe Springs Shopping Centers

Property Description

Marcus & Millichap, as the exclusive listing agent, is pleased to present Mulberry Apartments, a 25-unit multifamily investment opportunity located in Whittier, CA.

Built in 1950, 1956, and 1959, Mulberry Apartments offers a desirable mix of one, two, and three-bedroom units and amenities including a spacious courtyard, a swimming pool, controlled access, ample carport and surface parking, security doors, and an on-site laundry facility. Additionally, 4 of the units have been renovated and feature fresh paint, vinyl plank flooring, granite countertops, and ceiling fans, which has allowed current ownership to achieve a rental premium over non-renovated units. Furthermore, a new owner could potentially increase rental income through the continuation of the in-place renovation plan.

Whittier’s strong rental metrics, including a 2022 vacancy rate of just 3.4 percent and year-over-year rent growth of 12.6 percent, exemplify continued demand for rental housing in the area. With current rents below market rates, a new owner has the opportunity to capitalize on the City’s strong rental metrics.

Mulberry Apartments benefits from its fantastic Whittier location, surrounded by single-family residential neighborhoods and in close proximity to attractive area amenities. Residents enjoy the property’s walkable access to Mulberry Elementary School and California High School, as well as a Stater Bros. Market and CVS Pharmacy. Additionally, Mulberry Apartments is located a short drive from an abundance of major retail destinations along Whittier Boulevard.

Given the strong market dynamics and the property’s upside potential, Mulberry Apartments is well suited to provide a new investor with strong returns and value appreciation.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: Garden Style
Price: $6,575,000
No. of Units: 25
Cap Rate: 5.22%
GRM /GIM: 12.43
Year Built: 1959
Building Size: 19,448 Sq ft
Lot Size: 0.96 Sq ft
Opportunity Zone: No
Price per unit: $263,000
Address: 14149 Mulberry Dr

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent


Income/expense info: Actual

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