12-Unit Apartment
For Sale
$4,560,000
1138 1142 N Mayfair, Anaheim, CA 92801
Two adjacent apartment buildings provide separately metered utilities and established residential occupancy.
Property Size10,060 SF
Price / SF$453.28
Days on Market8
Property Features for 1138 1142 N Mayfair
General Information
Standard status
Active
Size
10,060 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
12
Building Details
Building Size
10,060 SF
Year Built
1957
Buildings
2
Listing Agency:
Acreage Real Estate
(909) 210-1570
Listed By:
GURJEET BHATIA · License #01895064
Source:
Kottandco
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 11:45AM
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 Acreage Real Estate
Investment Insights
Based on property information with market context.
This multifamily property comprises two adjacent six-unit apartment buildings on separate parcels, with a combined building area of 10,060 square feet. Constructed in 1957, the buildings contain 12 apartment units and have residents who have remained in place for more than ten years. Gas and electricity are separately metered, with residents responsible for those services.
The property is located in central Anaheim, with access to Interstate 5 approximately 1.5 miles away, State Route 91 approximately 2.5 miles away, and State Route 57 approximately 4.5 miles away. The Anaheim Regional Medical Center is less than a quarter mile from the property and includes a 228-bed hospital with a 24-hour emergency room. Downtown Anaheim and the Anaheim Packing District are both approximately 3.5 miles away.
The property is located in central Anaheim, with access to Interstate 5 approximately 1.5 miles away, State Route 91 approximately 2.5 miles away, and State Route 57 approximately 4.5 miles away. The Anaheim Regional Medical Center is less than a quarter mile from the property and includes a 228-bed hospital with a 24-hour emergency room. Downtown Anaheim and the Anaheim Packing District are both approximately 3.5 miles away.
Key Highlights
- Two adjacent six‑unit apartment buildings on separate parcels
- 12 apartment units totaling 10,060 square feet
- Built in 1957
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
$155,838
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
3.42%
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%
$3,116,760
$3.1M
Cap Rate 7%
$2,226,257
$2.2M
Cap Rate 9%
$1,731,533
$1.7M
Market Conditions
NOI Build-Up for 10,060 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
$295.8K $29.40/SF
− Vacancy
−$12.4K −$1.23/SF
EGI
$283.3K $28.17/SF
− OpEx
−$127.5K −$12.67/SF
NOI
$155.8K $15.49/SF
Area
ZIP 92801
Vacancy
4.20%
Lease Rate
$29.40 /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%
$3,116,760
Cap Rate 7%
$2,226,257
Cap Rate 9%
$1,731,533
Alternative Uses
Best Use
Apartment 5plus
$2.23M
$1.95M – $2.60M
NOI $155,838 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.20M
$2.80M – $3.74M
NOI $224,322 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,344
Businesses Nearby
Explore this area
Business Placement
Demographics for 92801, CA
63,163
Population
19,519
Households
3.2
Avg Household Size
34
Median Age
21%
College-Educated
73%
High-School Grad
6.3 sq mi
ZIP Area
10,026
Density / Sq Mi
$78,477
Median Household Income
$37,516
Median Earnings
$1,977
Median Rent
$632,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two adjacent apartment buildings provide separately metered utilities and established residential occupancy.
Where is this apartment building located?
The property is located at 1138 1142 N Mayfair Anaheim, CA.
What is the asking price?
The asking price for this property is $4,560,000.
What are key features of this property?
This property features: Two adjacent six‑unit apartment buildings on separate parcels; 12 apartment units totaling 10,060 square feet; Built in 1957
