Single-Story Garden-Style
New
For Sale
$2,795,000
1193 S Belhaven, Anaheim, CA 92806
Recent interior and exterior renovations complement the property’s established apartment configuration.
Property Size6,544 SF
Days on Market3
Property Features for 1193 S Belhaven
General Information
Standard status
Active
Size
6,544 SF
Property subtype
Apartment
Building Details
Building Size
6,544 SF
Year Built
1964
Listing Agency:
Skyline Commercial Real Estate
Listed By:
Joseph Lengyel-Leahu · License #02119569
Source:
Velocityrealtysd
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 22 at 5:53PM
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 Skyline Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 1964, this apartment property consists of single-story, garden-style residences. Recent improvements have been completed across both the interiors and exteriors, updating the asset while retaining its low-rise format.
The property is located at 1193 S Belhaven St in Anaheim, California, approximately one mile north of the Platinum Triangle. OCVIBE and Angel Stadium are also identified in the surrounding area, providing proximity to established entertainment and redevelopment destinations.
The property is located at 1193 S Belhaven St in Anaheim, California, approximately one mile north of the Platinum Triangle. OCVIBE and Angel Stadium are also identified in the surrounding area, providing proximity to established entertainment and redevelopment destinations.
Key Highlights
- Single‑story, garden‑style apartment configuration
- Recent renovations completed to interior and exterior areas
- 1964 construction year
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
$104,901
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
3.75%
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%
$2,098,020
$2.1M
Cap Rate 7%
$1,498,586
$1.5M
Cap Rate 9%
$1,165,567
$1.2M
Market Conditions
NOI Build-Up for 6,544 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
$198.7K $30.36/SF
− Vacancy
−$7.9K −$1.21/SF
EGI
$190.7K $29.15/SF
− OpEx
−$85.8K −$13.12/SF
NOI
$104.9K $16.03/SF
Area
ZIP 92806
Vacancy
4.00%
Lease Rate
$30.36 /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%
$2,098,020
Cap Rate 7%
$1,498,586
Cap Rate 9%
$1,165,567
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,901 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,816 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
936
Businesses Nearby
Explore this area
Business Placement
Demographics for 92806, CA
40,649
Population
13,144
Households
3.1
Avg Household Size
35
Median Age
26%
College-Educated
79%
High-School Grad
7.7 sq mi
ZIP Area
5,279
Density / Sq Mi
$95,112
Median Household Income
$44,212
Median Earnings
$2,234
Median Rent
$791,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Recent interior and exterior renovations complement the property’s established apartment configuration.
Where is this apartment building located?
The property is located at 1193 S Belhaven Anaheim, CA.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Single‑story, garden‑style apartment configuration; Recent renovations completed to interior and exterior areas; 1964 construction year
