We are proud to present a unique multifamily investment opportunity in Whittier, California, featuring a newly constructed, 60-unit Class-A suburban property. Cierra Apartment Homes is a 2023 newly constructed asset being offered as an exceptional investment opportunity situated in the Eastern Los Angeles submarket. This community boasts high- quality finishes and is ideal for private capital investors. Its prime location, modern design, and desirable amenities make it a standout property in the area. Situated on a highly visible infill site along Via Alta, Cierra Apartments features contemporary architecture and lush landscaping. The property is conveniently located within a short commute to major employment centers, including downtown Los Angeles, the Inland Empire, and Orange County. The building's 60 units offer inviting and stylish interiors modern refuge with the latest finishes and appliances. The thoughtful hardscaping and streamlined exterior create a sense of spaciousness that is rare for a property of this size. The communal areas are a distinctive feature, setting Cierra apart as a premier luxury residence. Given the limited supply of new multifamily properties in the region due to constrained land availability and local zoning restrictions, Cierra Apartments is well-positioned to benefit from strong rent growth. Cierra is a prime income-producing property and a great long-term investment asset. The property is in a highly desirable area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Property Features
Appliances
- Laundry Features: Dryer Included, Washer Included
Heating and Cooling
- Cooling Features: Central Air
- Heating Features: Central
- Heating: Yes
Bathrooms
Interior Features
Pool and Spa
- Pool Expense: 7980
- Pool Features: Private, In Ground
- Pool Private: Yes
- Spa Features: Private, In Ground
- Spa: Yes
Land Info
- Additional Parcels: No
- Land Lease: No
- Lot Description: Lot Over 40000 Sqft
- Lot Size Acres: 2.2547
- Lot Size Source: Assessor
- Lot Size Square Feet: 98213
Garage and Parking
- Garage Spaces: 60
- Parking Total: 60
Rental Info
- Gross Income: 2429807
- Gross Scheduled Income: 2429807
- Number of Units Leased: 58
- Vacancy Allowance: 72894
- Rent Control: Yes
Multi-Unit Info
- Number of Units: 60
- Bedrooms in Unit-1: 1
- Bedrooms in Unit-2: 2
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 2
- Full Bathrooms in Unit-1: 1
- Full Bathrooms in Unit-2: 2
- Unit-1 Furnished Description: Unfurnished
- Unit-2 Furnished Description: Unfurnished
- Unit 1 Total Actual Rent: 3014
- Unit 2 Total Actual Rent: 3450
Homeowners Association
- Gardener Expense: 15792
- Maintenance Expense: 28930
Amenities and Community Features
- Community Features: Curbs, Dog Park, Sidewalks
Other Property Info
- Source Listing Status: Active
- County: Los Angeles
- Cap Rate: 5.02
- Other Expense: 12000
- Source Property Type: Residential Income
- Insurance Expense: 51000
- Area: 670 - Whittier
- Source Neighborhood: 670 - Whittier
- New Taxes Expense: 347574
- Number of Separate Electric Meters: 60
- Number of Separate Gas Meters: 60
- Number of Separate Water Meters: 1
- Parcel Number: 8165008019
- Pest Control Expense: 5988
- Postal Code Plus 4: 2785
- Professional Management Expense: 250561
- Trash Expense: 36913
- Zoning: WHM1*
- Property Subtype: Apartment
Commercial Info
- Net Operating Income: 1504846
- Operating Expense: 852067
Building and Construction
- Year Built: 2023
- Building Features: 6
- Common Walls: 2+ Common Walls
- Entry Level: 1
- Entry Location: 1
- Levels: Three Or More
- Property Age: 2
- Property Attached: Yes
- Levels or Stories: Three Or More
- Building Total Stories: 3
- Elevation Units: Feet
- Year Built Source: Assessor
Utilities
- Electric Expense: 12364
- Sewer: Public Sewer
- Water Source: Public