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Historic Owner User Opportunity 6354 Painter Ave 4,518 SF 100% Leased Office Building Whittier, CA 90601 $1,499,000 ($331.78/SF)
INVESTMENT HIGHLIGHTS
- Potential For Mills Act (roughly 50% reduction in property taxes)
- Ability to convert into residential or keep as commercial
- Prime Location on Major Intersection in North Whittier (Painter and Hadley)
- Huge Corner Lot - 19,517 sq.ft. lot with plenty of parking
- Owner User or Investment Opportunity
- Historical Trophy Asset
EXECUTIVE SUMMARY
Attractive development potential with 19,602 square foot lot and the ability to convert into 8 multifamily residential units. Vacant commercial building that can be used as owner-user or investment. Historical aspect allows for potential to utilize Mills Act and significantly reduce property taxes by +/-50%
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Subtype
Building Size
4,518 SF
Building Class
C
Year Built
1916
Price
$1,499,000
Price Per SF
$331.78
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,259 SF
Building FAR
0.23
Lot Size
0.45 AC
Zoning
WHCO
Parking
22 Spaces (4.87 Spaces per 1,000 SF Leased)
AMENITIES
- Air Conditioning
1 1
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 8137-012-025 | Improvements Assessment | $167,325 |
| Land Assessment | $725,085 | Total Assessment | $892,410 |
PROPERTY TAXES
Parcel Number
8137-012-025
Land Assessment
$725,085
Improvements Assessment
$167,325
Total Assessment
$892,410
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Historic Owner User Opportunity | 6354 Painter Ave
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