Redevelopment Multifamily Community
811 W Romneya Dr Anaheim, CA 92801
811 W Romneya Dr, Anaheim, CA, 92801
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For Sale
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19-unit multifamily property with 100% occupancy and approved plans for a 40-unit redevelopment plus clubhouse.
Property Size49,353 SF
Lot Size1.14 Acres
Price / SF$192.39
Days on Market118
Property Features for 811 W Romneya Dr
General Information
- Standard status
- Active
- Size
- 49,353 SF
- Lot size
- 1.14 Acres
- Property subtype
- Multifamily
Listing Agency
Alliance Investment Real Estate Group
(949) 250-0400
Listed by
Daniel Khorsandi · License #01761861
Source
Crexi
Added: Mar 26 Updated: Jul 20 at 5:57 pm Checked: Jul 20 at 5:57 pm
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 Alliance Investment Real Estate Group
Investment Insights
Based on property information with market context.
Offered for sale is a 19-unit multifamily community originally constructed in 1977 and currently 100% occupied. The existing property is configured with 10 two-bedroom units, 1 three-bedroom unit, and 8 one-bedroom units, and is separately metered. Seller-provided pre-development materials include all approved plans and reports available at close of escrow, including MEP plans, engineering, Title 24 compliance, and soil reports, with the buyer to obtain permits prior to commencing redevelopment.
The redevelopment plan calls for a 40-unit residential project plus a clubhouse. The clubhouse may be converted into an additional one (1) ADU consisting of a two-bedroom, two-bath unit without requiring additional parking. The proposed unit mix includes 39 two-bedroom, two-bath units and 2 three-bedroom, two-bath units. The plan provides approximately 104 parking spaces, including subterranean and surface-level parking.
Additional project features noted in the materials include a gated community layout, in-unit side-by-side washer and dryer hookups, individually served tankless water heaters, central air conditioning, solar power, and EV charging capability in a significant number of parking spaces. The plans also reflect nine-foot ceilings and eight-foot doors throughout all units.
The redevelopment plan calls for a 40-unit residential project plus a clubhouse. The clubhouse may be converted into an additional one (1) ADU consisting of a two-bedroom, two-bath unit without requiring additional parking. The proposed unit mix includes 39 two-bedroom, two-bath units and 2 three-bedroom, two-bath units. The plan provides approximately 104 parking spaces, including subterranean and surface-level parking.
Additional project features noted in the materials include a gated community layout, in-unit side-by-side washer and dryer hookups, individually served tankless water heaters, central air conditioning, solar power, and EV charging capability in a significant number of parking spaces. The plans also reflect nine-foot ceilings and eight-foot doors throughout all units.
Key Highlights
- 19‑unit multifamily community on approx. 1.14 acres, originally built in 1977, and currently 100% occupied
- Approved plans for a 40‑unit residential development plus a clubhouse (clubhouse may convert to an additional 1 ADU 2BD/2BA without additional parking)
- Approved redevelopment totals approx. 44,284 SF total living space and includes approx. 104 parking spaces (subterranean and surface); underground garage approx. 20,829 SF
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.45M | $29.40 |
| − Vacancy | −$60.9k | −$1.23 |
| EGI | $1.39M | $28.17 |
| − OpEx | −$625.5k | −$12.67 |
| NOI | $764.5k | $15.49 |
49,353 SF · lease $29.40/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$10.92M
$9.56M – $12.74M
NOI $764,520 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.72M
$13.76M – $18.34M
NOI $1,100,493 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 19-unit multifamily property with 100% occupancy and approved plans for a 40-unit redevelopment plus clubhouse.
Where is this apartment building located?
The property is located at 811 W Romneya Dr Anaheim, CA.
What is the asking price?
The asking price for this property is $9,495,000.
What are key features of this property?
This property features: 19‑unit multifamily community on approx. 1.14 acres, originally built in 1977, and currently 100% occupied; Approved plans for a 40‑unit residential development plus a clubhouse (clubhouse may convert to an additional 1 ADU 2BD/2BA without additional parking); Approved redevelopment totals approx. 44,284 SF total living space and includes approx. 104 parking spaces (subterranean and surface); underground garage approx. 20,829 SF
