Single-Story Apartment
For Sale
Contact for pricing
3221 W Ball Road, Anaheim, CA 92804
Unit layouts include private patios, fireplaces, and access to shared recreational and laundry amenities.
Property Size12,228 SF
Lot Size0.84 Acres
Price / SF$359.75
Days on Market118
Property Features for 3221 W Ball Road
General Information
Standard status
Active
Size
12,228 SF
Total Parking Spaces
16
Lot size
0.84 Acres
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$194,163
Amenities
fireplace
private patio
pool
on-site laundry room
Building Details
Year Built
1964
Stories
1
Units
14
Tenancy
Multi
Listing Agency:
Morgan Skenderian Investment Real Estate Group
Listed By:
Ken Morgan · License #01220368
Source:
Crexi
Added: May 7
Changed: Aug 31
Last Checked: Aug 31 at 4:44AM
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 Morgan Skenderian Investment Real Estate Group
Investment Insights
Based on property information with market context.
This apartment property at 3221 W. Ball Road in Anaheim contains 12,228 square feet across single-story residences on a 36,458-square-foot lot. The unit mix is primarily composed of two- and three-bedroom layouts, with each residence offering a fireplace and private patio. Community amenities include a pool and an on-site laundry room equipped with owned machines.
Parking is provided through a combination of carports, garages, and open spaces. Property improvements include roof repairs and replacements, substantial plumbing work, a new parking gate, and termite treatment. Built in 1964, the community is positioned in an Orange County rental market, with projected rental upside of 31%.
Parking is provided through a combination of carports, garages, and open spaces. Property improvements include roof repairs and replacements, substantial plumbing work, a new parking gate, and termite treatment. Built in 1964, the community is positioned in an Orange County rental market, with projected rental upside of 31%.
Key Highlights
- 12,228 SF apartment property on a 36,458 SF lot
- Single‑story residences with primarily 2- and 3‑bedroom layouts
- Every unit includes a fireplace and private patio
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
$184,007
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
4.18%
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%
$3,680,140
$3.7M
Cap Rate 7%
$2,628,671
$2.6M
Cap Rate 9%
$2,044,522
$2.0M
Market Conditions
NOI Build-Up for 12,228 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
$352.2K $28.80/SF
− Vacancy
−$17.6K −$1.44/SF
EGI
$334.6K $27.36/SF
− OpEx
−$150.6K −$12.31/SF
NOI
$184.0K $15.05/SF
Area
ZIP 92804
Vacancy
5.00%
Lease Rate
$28.80 /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%
$3,680,140
Cap Rate 7%
$2,628,671
Cap Rate 9%
$2,044,522
Alternative Uses
Best Use
Apartment 5plus
$2.63M
$2.30M – $3.07M
NOI $184,007 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,881 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 92804, CA
86,127
Population
25,451
Households
3.4
Avg Household Size
36
Median Age
23%
College-Educated
76%
High-School Grad
7.1 sq mi
ZIP Area
12,131
Density / Sq Mi
$74,588
Median Household Income
$36,945
Median Earnings
$1,990
Median Rent
$729,700
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 - Unit layouts include private patios, fireplaces, and access to shared recreational and laundry amenities.
Where is this apartment building located?
The property is located at 3221 W Ball Road Anaheim, CA.
What is the asking price?
The asking price for this property is $4,399,000.
What are key features of this property?
This property features: 12,228 SF apartment property on a 36,458 SF lot; Single‑story residences with primarily 2- and 3‑bedroom layouts; Every unit includes a fireplace and private patio
