Created date: September 27, 2023
Date last updated: September 27, 2023
Marcus & Millichap, as the exclusive listing agent, is pleased to present The Mediterranean, a 257-unit multifamily investment opportunity located in Whittier, CA.
Built in 1970, The Mediterranean is the largest multifamily community in Whittier and the city’s only 200+ unit property. This unique 257-unit multifamily property sits on a massive 8.49 acres of land and provides an excellent value-add opportunity for a buyer to bring this asset up to its full potential.
The Mediterranean features an attractive park-like design, with expansive lawns and beautiful mature trees. The property is comprised of 15, two-story buildings and features a desirable unit mix of 108, one-bedroom units, 144, two-bedroom units, and 5, three-bedroom units. The Mediterranean presents renters with fantastic unit amenities including private patios or balconies, vinyl plank and carpet flooring, central A/C and heat, fireplaces (select units), granite countertops, and ceiling fans. Additionally, the property offers a comprehensive community amenity package including a swimming pool and spa, a dedicated pool-side BBQ area, ample carport and garage parking, a rental office, and on-site laundry facilities. Furthermore, the spacious lot provides additional amenity opportunities including parcel lockers, a dog park, and electric vehicle charging stations that could elevate the property’s appeal to a broader renter base. The property’s diverse unit mix and attractive amenities will be major draws for potential renters and will help to keep the demand high for The Mediterranean.
With a prime East Whittier location, residents of The Mediterranean are at the epicenter of all that Whittier, La Mirada, and La Habra have to offer. The property is within a 4.25-mile radius of local hotspots such as Uptown Whittier, Biola University, and the La Habra Marketplace. This placement allows residents to enjoy a nearly endless amount of trendy and contemporary dining, shopping, and entertainment options that are unique to the area. Furthermore, The Mediterranean is within 1.50 miles of two arterial thoroughfares, Whittier Boulevard and Beach Boulevard. This positioning allows for ease of access to major freeways such as Interstates 5 and 605, which connect residents to regional employment hubs in Los Angeles, Orange, and Riverside Counties.
Given the property’s distinct standing as Whittier’s only 200+ multifamily property as well as its unique qualities, location, and upside potential, the Mediterranean represents an enticing opportunity for a new owner.