Fullerton Apartment Complex with
For Sale
$6,090,000
111 N Stanford Ave, Fullerton, CA 92831
18-unit apartment complex in high-demand Fullerton location.
Property Size11,013 SF
Lot Size0.83 Acres
Days on Market167
Property Features for 111 N Stanford Ave
General Information
Standard status
Active
Size
11,013 SF
Lot size
0.83 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$51,627
Building Details
Building Size
11,013 SF
Year Built
1973
Units
18
Listing Agency:
Circa Properties, Inc.
(714) 225-2014
Listed By:
Susan Hirzel · License #01904282
Source:
Elliman
Added: Mar 10
Changed: Aug 17
Last Checked: Aug 22 at 11:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Circa Properties, Inc.
Investment Insights
Based on property information with market context.
The Stanford Apartments is an 18-unit apartment community situated in a high-demand area of Fullerton. This two-story, gated complex features eighteen one-bedroom, one-bathroom apartments, each with its own enclosed single-car garage, along with nine additional garages that provide additional revenue. Amenities include two on-site coined laundry rooms, an on-site pool, grass areas, driveway parking, and an additional parking pad. Recent improvements include new exterior paint, new exterior lighting, and new electrical panels. Most of the units have been remodeled with laminate or LVP flooring, new ceiling fans and lights, new stoves, new A/C units, new paint, and window coverings. Six of the units offer a private fenced yard, and three of the units have a private balcony. Built in 1973, this property has been diligently maintained and offers steady rental income with long-term tenants and low-maintenance ownership, making it suitable for investors seeking cash flow and value-add potential. The property is situated at the end of a quiet cul-de-sac and conveniently located close to Downtown Fullerton, Fullerton College, Fullerton Train Station, Cal State Fullerton, and the 91 and 57 freeways.
Key Highlights
- High‑demand Fullerton location near Downtown, Fullerton College, CSUF, and transportation.
- 18 units with steady rental income, long‑term tenants, and low‑maintenance ownership.
- Each unit includes a private, enclosed single‑car garage, plus 9 additional garages for extra revenue.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$183,950
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,679,000
$3.7M
Cap Rate 7%
$2,627,857
$2.6M
Cap Rate 9%
$2,043,889
$2.0M
Market Conditions
NOI Build-Up for 11,013 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$350.2K $31.80/SF
− Vacancy
−$15.8K −$1.43/SF
EGI
$334.5K $30.37/SF
− OpEx
−$150.5K −$13.67/SF
NOI
$183.9K $16.70/SF
Area
Fullerton, CA
Vacancy
4.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,679,000
Cap Rate 7%
$2,627,857
Cap Rate 9%
$2,043,889
Alternative Uses
Best Use
Apartment 5plus
$2.63M
$2.30M – $3.07M
NOI $183,950 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,895 @ 7.0% cap · market cap 4.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,424
Businesses Nearby
Explore this area
Business Placement
Demographics for 92831, CA
38,953
Population
13,691
Households
2.8
Avg Household Size
31
Median Age
44%
College-Educated
89%
High-School Grad
5.9 sq mi
ZIP Area
6,602
Density / Sq Mi
$89,451
Median Household Income
$41,878
Median Earnings
$2,093
Median Rent
$821,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 18-unit apartment complex in high-demand Fullerton location.
Where is this apartment building located?
The property is located at 111 N Stanford Ave Fullerton, CA.
What is the asking price?
The asking price for this property is $6,090,000.
What are key features of this property?
This property features: High‑demand Fullerton location near Downtown, Fullerton College, CSUF, and transportation.; 18 units with steady rental income, long‑term tenants, and low‑maintenance ownership.; Each unit includes a private, enclosed single‑car garage, plus 9 additional garages for extra revenue.
