229 S Delano St Anaheim, CA 92804

This fully occupied 4-unit property is located on a cul-de-sac in the desirable West Anaheim rental market. The well-maintained Covington model fourplex is known for its functional layouts, private garages, and tenant appeal. The property, with the current rent increase set for Feb. 1, 2026, will operate at a Gross Rent Multiplier (GRM) of 14.76 with a Cap Rate of approximately 5.67%, offering immediate income with upside potential through future rent increases and parking income. All four units are occupied by long-term tenants, providing stability and consistent cash flow. Each unit features updated kitchens and bathrooms, along with newer carpeting and laminate flooring. Key features include private garages for each unit with interior garage laundry, additional community laundry, updated windows, and a well-maintained exterior and systems. An attractive grass yard courtyard area enhances tenant livability and curb appeal. There is additional parking income potential. The property is located near major freeway access, shopping, dining, and theme parks, making it attractive to renters and supporting long-term demand. This is a turn-key investment with stable in-place income, desirable unit features, and upside for investors.