80-Unit Garden Apartment
New
For Sale
$29,500,000
140 W Orangethorpe Ave, Placentia, CA 92870
Residents have access to private patios, a swimming pool, a playground, and on-site laundry.
Property Size60,354 SF
Lot Size5.17 Acres
Days on Market2
Property Features for 140 W Orangethorpe Ave
General Information
Standard status
Active
Size
60,354 SF
Lot size
5.17 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Multifamily Units
80
Parking per Unit
2
Additional Details
Cap Rate
5.8%
Amenities
swimming pool
playground
on site laundry
80 single story units situated on 5.17 contiguous acres
5.80% current underwritten cap rate and 6.52% pro forma cap rate
96% occupied with a straightforward mark to market opportunity
Predominantly two bedroom mix with private patios and two parking spaces per unit
Approximately $834,426 invested since 2023, including replacement of all property electrical panels
Potential conversion of existing rooms and structures into approximately 2 to 4 ADUs, with long term redevelopment optionality
Building Details
Building Size
60,354 SF
Stories
1
Units
80
Construction
garden-style
Listed By:
Mike Cavner · License #License(s): CA: 01274709
(949) 419-3327
Source:
Marcusmillichap
Added: Oct 19
Last Checked: Oct 19 at 2:34PM
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 Mike Cavner
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Investment Insights
Based on property information with market context.
This single-story apartment community contains 80 residences across 5.17 contiguous acres in Placentia. The unit mix is 99% two-bedroom apartments, each with a private enclosed patio and two parking spaces, including one covered space. Shared amenities include a pool, playground, and on-site laundry. Approximately 40% of the apartments have updated interiors with quartz countertops, shaker-style cabinetry, and vinyl plank flooring. Average resident tenure is 10.3 years.
The property is on West Orangethorpe Avenue, with access to SR 57 and SR 91. Nearby destinations include Cal State Fullerton, schools, employment centers, medical facilities, shopping, and the Platinum Triangle. The location also connects with Placentia, Fullerton, Brea, Anaheim, and the Inland Empire.
The property is on West Orangethorpe Avenue, with access to SR 57 and SR 91. Nearby destinations include Cal State Fullerton, schools, employment centers, medical facilities, shopping, and the Platinum Triangle. The location also connects with Placentia, Fullerton, Brea, Anaheim, and the Inland Empire.
Key Highlights
- 80 single‑story apartments on 5.17 contiguous acres
- 99% two‑bedroom unit mix; each residence has a private enclosed patio
- Two parking spaces per residence, including one covered space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,151,989
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$23,039,780
$23.0M
Cap Rate 7%
$16,456,986
$16.5M
Cap Rate 9%
$12,799,878
$12.8M
Market Conditions
NOI Build-Up for 60,354 SF
Gross rent
$2.17M $36.00/SF
− Vacancy
−$78.2K −$1.30/SF
EGI
$2.09M $34.70/SF
− OpEx
−$942.5K −$15.62/SF
NOI
$1.15M $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$23,039,780
Cap Rate 7%
$16,456,986
Cap Rate 9%
$12,799,878
Alternative Uses
Best Use
Apartment 5plus
$16.46M
$14.40M – $19.20M
NOI $1,151,989 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.27M
$17.74M – $23.65M
NOI $1,419,019 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
80
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,757
Businesses Nearby
Explore this area
Business Placement
Demographics for 92870, CA
52,749
Population
17,545
Households
3
Avg Household Size
39
Median Age
44%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
7,873
Density / Sq Mi
$110,575
Median Household Income
$53,074
Median Earnings
$2,267
Median Rent
$871,000
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
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have access to private patios, a swimming pool, a playground, and on-site laundry.
Where is this apartment building located?
The property is located at 140 W Orangethorpe Ave Placentia, CA.
What is the asking price?
The asking price for this property is $29,500,000.
What are key features of this property?
This property features: 80 single‑story apartments on 5.17 contiguous acres; 99% two‑bedroom unit mix; each residence has a private enclosed patio; Two parking spaces per residence, including one covered space
