0.34 Acres Lot
0.34 Acres Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25122939
HOA Y/N No
Year Built 1959
Lot Size 0.337 Acres
Property Sub-Type Apartment
Property Description
In addition to the building's excellent location, it has an outstanding unit mix consisting of (12) 1 Bed/1 Bath units. Further, the property been meticulously taken care of with many of the major electric and plumbing systems upgraded. Furthermore, the property offers ample parking with multiple carport and designated spaces. As it stands, the offering presents strong day one income with a current CAP Rate of 5.60% as well as a GRM of 11.65 and future upside with a pro forma CAP Rate of 7.03% and GRM of 9.92. Along these lines, the property features onsite washers and dryers bringing in extra $333 a month providing investors with a healthy stream of additional cash flow subject to occupancy. Investors also have the unique opportunity to capitalize on the adjacent lots to build ADUs and generate additional income upon acquisition.
All in all, the building's close proximity to Orange County's top destinations and major employment hubs including Disneyland, the Anaheim Convention Center, Angel Stadium, and the Honda Center further drives future rental demand. This provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Interior Features Granite Counters, Laminate Counters
Flooring Laminate, Tile, Wood
Fireplaces Type None
Fireplace No
Appliance 6 Burner Stove, Freezer, Gas Oven, Refrigerator
Laundry Common Area
Exterior
Parking Features Assigned, Covered, Carport, Detached Carport, Driveway Level, Driveway, On Site, Off Street, Paved, Private, One Space, Side By Side
Carport Spaces 8
Fence Block
Pool None
Community Features Biking, Curbs, Dog Park, Golf, Gutter(s), Park, Street Lights, Suburban, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View Courtyard, Hills, Neighborhood
Roof Type Flat
Total Parking Spaces 14
Private Pool No
Building
Lot Description Lawn, Paved, Rectangular Lot, Sprinkler System, Street Level
Story 2
Entry Level Two
Sewer Sewer Tap Paid
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 23142302
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, Contract, 1031 Exchange
Special Listing Condition Standard
