Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire The Obert Arms, a 14-unit multifamily investment property located at 11506 Obert Avenue in Whittier, one of the premier housing markets in Southern California.
Built in 1962, The Obert Arms consists of 4, one-bedroom units and 10, two-bedroom units and offers amenities including carport parking and on-site laundry.
The average household income in Whittier is projected to grow by 14 percent to $109,197 by 2023 and the vacancy rate within a one mile radius of the subject property is just 1.15 percent. In addition, approximately 89.7 percent of Whittier residents commute to surrounding cities for employment. The Obert Arms’ strategic location, in close proximity to Whittier Boulevard, helps to attract renters seeking convenient access to employment hubs.
Given the strong demographics and unique appeal of the subject properties, The Obert Arms is well suited to provide investors with strong returns and value appreciation over the long term investment horizon.