Two-Unit Duplex with
For Sale
$988,800
122 S West, Anaheim, CA 92805
Two-bedroom units feature separate yards, utility meters, and central air conditioning.
Property Size2,000 SF
Price / SF$494.40
Days on Market11
Property Features for 122 S West
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Duplex
Building Details
Building Size
2,000 SF
Year Built
1912
Listing Agency:
The Shire Real Estate Group
Listed By:
John Chesshire · License #00922652
(714) 626-8880
Source:
Kottandco
Added: Sep 14
Changed: Sep 24
Last Checked: Sep 22 at 9:20PM
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 The Shire Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1912, this Anaheim duplex contains two approximately 1,000-square-foot residences, each arranged with two bedrooms, central AC, a separate yard, and independent water, gas, and electric meters. The property includes two single-car garages with fire sprinkler systems, along with additional parking areas. The front residence adds a quarter basement, interior laundry, and a driveway extending more than 40 feet. The rear unit has a new dishwasher, new garbage disposal, and new flooring in both bedrooms.
The roof was installed approximately in 2019. The interiors are dated and offer a renovation scope that includes paint and flooring updates. The property is located minutes from Disneyland, the Anaheim Packing District, Angel Stadium, and the Honda Center. The sale is subject to probate procedures and is being offered as-is.
The roof was installed approximately in 2019. The interiors are dated and offer a renovation scope that includes paint and flooring updates. The property is located minutes from Disneyland, the Anaheim Packing District, Angel Stadium, and the Honda Center. The sale is subject to probate procedures and is being offered as-is.
Key Highlights
- Two approximately 1,000‑square‑foot units, each with two bedrooms
- Separate yards and independent water, gas, and electric meters
- Two single‑car garages with fire sprinkler systems installed
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
$35,827
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
3.62%
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%
$716,540
$716.5K
Cap Rate 7%
$511,814
$511.8K
Cap Rate 9%
$398,078
$398.1K
Market Conditions
NOI Build-Up for 2,000 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
$54.0K $27.00/SF
− Vacancy
−$2.8K −$1.41/SF
EGI
$51.2K $25.59/SF
− OpEx
−$15.4K −$7.68/SF
NOI
$35.8K $17.91/SF
Area
ZIP 92805
Vacancy
5.22%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$716,540
Cap Rate 7%
$511,814
Cap Rate 9%
$398,078
Alternative Uses
Best Use
Multifamily LT 5
$511.8K
$447.8K – $597.1K
NOI $35,827 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$445.5K
$389.8K – $519.8K
NOI $31,185 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$610.8K
$534.5K – $712.6K
NOI $42,758 @ 7.0% cap · market cap 4.32%
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
1,311
Businesses Nearby
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Business Placement
Demographics for 92805, CA
74,633
Population
23,195
Households
3.2
Avg Household Size
33
Median Age
26%
College-Educated
71%
High-School Grad
6.2 sq mi
ZIP Area
12,038
Density / Sq Mi
$85,623
Median Household Income
$38,180
Median Earnings
$2,045
Median Rent
$667,400
Median Home Value
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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?
Duplex - Two-bedroom units feature separate yards, utility meters, and central air conditioning.
Where is this duplex located?
The property is located at 122 S West Anaheim, CA.
What is the asking price?
The asking price for this property is $988,800.
What are key features of this property?
This property features: Two approximately 1,000‑square‑foot units, each with two bedrooms; Separate yards and independent water, gas, and electric meters; Two single‑car garages with fire sprinkler systems installed
