Residential Income
For Sale
$1,595,000
2337 E Omega Avenue, Anaheim, CA 92806
Built in 1972 with forced-air heating and wall/window units.
Property Size4,345 SF
Days on Market9
Property Features for 2337 E Omega Avenue
General Information
Standard status
Active
Size
4,345 SF
Total Parking Spaces
6
Property subtype
Residential Income
Net Operating Income
$92,947
Amenities
Curbs, Street Lights, Sidewalks
Wall/Window Unit(s)
Forced Air
Gas Range, Range Hood, Water Heater
Ceiling Fan(s)
Wood, Wrought Iron
Concrete, Garage
Traditional
Building Details
Building Size
4,345 SF
Year Built
1972
Buildings
1
Stories
2
Listing Agency:
NOHCO Real Estate
(213) 804-7647
Listed By:
Brian Noh · License #01438155
(213) 804-7647
Source:
Evrealestate
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 12 at 6:27AM
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 NOHCO Real Estate
Investment Insights
Based on property information with market context.
This residential income property at 2337 E Omega Avenue was built in 1972. Interior features include forced-air heating, wall/window units, ceiling fans, a gas range, range hood, and water heater. The property also includes a garage, concrete exterior elements, and wood and wrought-iron features.
Access is available from the 57 Freeway via Ball Road, followed by westbound travel, a left onto Sunkist Street, and a right onto Omega Avenue. The property is located in Anaheim, within Orange County.
Access is available from the 57 Freeway via Ball Road, followed by westbound travel, a left onto Sunkist Street, and a right onto Omega Avenue. The property is located in Anaheim, within Orange County.
Key Highlights
- Residential income property built in 1972
- Forced‑air heating and wall/window units
- Gas range, range hood, and water heater
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
$69,651
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
4.37%
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%
$1,393,020
$1.4M
Cap Rate 7%
$995,014
$995.0K
Cap Rate 9%
$773,900
$773.9K
Market Conditions
NOI Build-Up for 4,345 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
$131.9K $30.36/SF
− Vacancy
−$5.3K −$1.21/SF
EGI
$126.6K $29.15/SF
− OpEx
−$57.0K −$13.12/SF
NOI
$69.7K $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%
$1,393,020
Cap Rate 7%
$995,014
Cap Rate 9%
$773,900
Alternative Uses
Best Use
Apartment 5plus
$995.0K
$870.6K – $1.16M
NOI $69,651 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,481 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,056
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1972 with forced-air heating and wall/window units.
Where is this residential income property located?
The property is located at 2337 E Omega Avenue Anaheim, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Residential income property built in 1972; Forced‑air heating and wall/window units; Gas range, range hood, and water heater
