Contiguous 8-Unit Apartment
For Sale
$1,555,000
2127 E Almont Ave, Anaheim, CA 92806
Two side-by-side 4-unit buildings with shared amenities, on-site garages, and partially separated utilities for an 8-unit investment.
Property Size3,891 SF
Lot Size0.42 Acres
Days on Market95
Property Features for 2127 E Almont Ave
General Information
Standard status
Active
Size
3,891 SF
Total Parking Spaces
12
Lot size
0.42 Acres
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
8
Amenities
Two contiguous 4-unit properties totaling 8 units in Southeast Anaheim
100% single-story construction with private patios and garage parking
Combined 0.42-acre site with shared central courtyard and gated access
12 total garage parking spaces across the two 4-unit properties
Diverse unit mix of 1-bed, 2-bed, and 3-bed floorplans
Recent capital improvements include 2021/2022 roof replacements
One unit renovated in 2026, with additional rental upside potential
Near OCVIBE, Honda Center, ARTIC, Angel Stadium, Disneyland, and I-5
Building Details
Building Size
3,891 SF
Year Built
1964
Year Renovated
2026
Units
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Orange County
Listed By:
Christian Tait · License #License(s): CA: 02111248
(949) 419-3282
Source:
Marcusmillichap
Added: Jun 3
Changed: Sep 4
Last Checked: Aug 1 at 4:55PM
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 Marcus & Millichap - Orange County
Investment Insights
Based on property information with market context.
This offering presents two contiguous 4-unit multifamily properties built in 1964, comprising a total of 8 apartments. Each building has a consistent unit mix: two 1-bed/1-bath units, one 2-bed/1-bath unit, and one 3-bed/2-bath unit. The buildings include three 2-car garages per property, for six garage parking spaces per building. Tenants enjoy a shared central courtyard, private patios, and gated access, along with two on-site laundry facilities, one per property; one laundry room is not currently in use.
The properties are located in Southeast Anaheim with convenient freeway access and proximity to schools, parks, and major entertainment and employment drivers. The buildings share site amenities and operate as adjacent assets on a combined 0.42-acre site. Drive-by only; please do not walk the property or disturb residents.
Recent capital improvements include roof replacements completed in 2021 and 2022, a new sewer line at 2127 East Almont Avenue in 2017, and the renovation of Unit 2127 C in 2026. Utilities are partially separated, with electricity, gas, and trash billed separately; water and sewer remain master metered. The adjacent configuration provides an investor with the scale of an 8-unit setup while maintaining the same unit mix across both buildings.
The properties are located in Southeast Anaheim with convenient freeway access and proximity to schools, parks, and major entertainment and employment drivers. The buildings share site amenities and operate as adjacent assets on a combined 0.42-acre site. Drive-by only; please do not walk the property or disturb residents.
Recent capital improvements include roof replacements completed in 2021 and 2022, a new sewer line at 2127 East Almont Avenue in 2017, and the renovation of Unit 2127 C in 2026. Utilities are partially separated, with electricity, gas, and trash billed separately; water and sewer remain master metered. The adjacent configuration provides an investor with the scale of an 8-unit setup while maintaining the same unit mix across both buildings.
Key Highlights
- Two contiguous 4‑unit multifamily buildings (2127–2133 E Almont Ave) with 8 total units on a 0.42‑acre site
- Built in 1964: each building has a consistent unit mix of two 1 bed/1 bath, one 2 bed/1 bath, and one 3 bed/2 bath unit
- On‑site parking includes three 2‑car garages per building (6 garage spaces each; 12 total)
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
$62,373
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
4.01%
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%
$1,247,460
$1.2M
Cap Rate 7%
$891,043
$891.0K
Cap Rate 9%
$693,033
$693.0K
Market Conditions
NOI Build-Up for 3,891 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
$118.1K $30.36/SF
− Vacancy
−$4.7K −$1.21/SF
EGI
$113.4K $29.15/SF
− OpEx
−$51.0K −$13.12/SF
NOI
$62.4K $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%
$1,247,460
Cap Rate 7%
$891,043
Cap Rate 9%
$693,033
Alternative Uses
Best Use
Apartment 5plus
$891.0K
$779.7K – $1.04M
NOI $62,373 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,295 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Yes
Highway access
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
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 side-by-side 4-unit buildings with shared amenities, on-site garages, and partially separated utilities for an 8-unit investment.
Where is this apartment building located?
The property is located at 2127 E Almont Ave Anaheim, CA.
What is the asking price?
The asking price for this property is $1,555,000.
What are key features of this property?
This property features: Two contiguous 4‑unit multifamily buildings (2127–2133 E Almont Ave) with 8 total units on a 0.42‑acre site; Built in 1964: each building has a consistent unit mix of two 1 bed/1 bath, one 2 bed/1 bath, and one 3 bed/2 bath unit; On‑site parking includes three 2‑car garages per building (6 garage spaces each; 12 total)
