A LA Multifamily success story in Whittier
How Full-Market Exposure Brought the Right Buyer to 9025 Mills Avenue
9025 Mills Avenue
Full-market exposure and targeted outreach reshaped the momentum at 9025 Mills Avenue, generating renewed engagement and leading to a smooth 2.515M closing for the ownership group.
Offering Price
$2,515,000
City
Whittier
Current CAP
6.57%
Price per unit
$251,500
Lot Size
11,203 SF
9025 Mills Avenue
Offering Price
$2,515,000
Number of Units
348 Units
Bldg. Size
7,237 SF
Price per Foot
$348
Year Built
1960
Market CAP
7.81%
Zoning
WHT
Background
When the longtime owners of 9025 Mills Avenue passed the property down to multiple beneficiaries, the family faced a difficult transition. After more than 30 years of continuous ownership, the group needed to align on next steps and determine the most practical path forward. They initially listed the building with a trusted residential agent who also served as their attorney. Throughout this period, Max maintained open communication with both the representative and the beneficiaries, offering guidance in case specialized multifamily support became necessary.
After several months on the market, the beneficiaries recognized that the property required a focused multifamily approach. Max was brought in at a moment when buyer sentiment had shifted. Even though 9025 Mills Avenue offered strong in-place income, recent system upgrades, and the advantage of no local rent control, many investors struggled to justify the initial 5.30 percent CAP and 12.19 GRM in the prevailing financing environment.
Challenge
Our team concentrated on the two buyer groups most likely to see meaningful long-term upside at 9025 Mills Avenue. The first group included 1031 exchange buyers moving out of older or RSO-constrained assets. The second group consisted of local owner-operators who already understood East Whittier’s tenant base and valued the asset class.
With the buyer pool defined, we focused on maximizing market visibility. Whether through CoStar, LoopNet, the MLS, private broker channels, or targeted email networks, the philosophy remained simple. Present the property in its best light and syndicate it broadly. The right buyer can come from anywhere, and the goal is to meet them wherever they are searching.
Result
A local owner-operator, represented by an outside agent, discovered 9025 Mills Avenue on LoopNet and reached out right away. The renewed positioning, combined with complete market coverage, generated the exact engagement the listing had previously lacked. Activity increased, communication accelerated, and buyer interest aligned with the property’s true long-term value.
The transaction closed smoothly in 60 days at 2,515,500 dollars, providing the beneficiaries with a clean resolution after decades of family ownership. For the new buyer, the acquisition offered a stable, well maintained building in an established East Whittier neighborhood with consistent tenant demand.
