123 East St Anaheim, CA 92805

Property Details for 123 East St

Year built

1956

Property size

4,335 SF

Property type

Apartment buildings

Description

This exceptional 5-unit apartment building presents a compelling investment opportunity in the thriving Anaheim, CA market. The property, located at 123 N. East Street, boasts 4,335 square feet on a spacious 14,262 square foot lot. The building comprises two structures, each featuring single-story, two-bedroom, one-bathroom units, all currently 100% occupied. Recent capital improvements include a brand new roof for both structures and all new electrical panels, ensuring long-term value and reduced maintenance costs. Each unit includes a private patio, and residents enjoy the convenience of on-site laundry facilities and individual garages. The property benefits from individually metered utilities (electricity and gas), with tenants responsible for their own trash. Situated in a prime location, residents have easy access to major freeways (SR-91, SR-5, SR-55), connecting them to employment centers in Los Angeles and Orange County. Nearby attractions include the Anaheim Packing District, Angel Stadium, Downtown Disney, and Disneyland, enhancing the property's appeal to tenants. The property's strong financial performance is reflected in its current NOI of $78,409 and a pro-forma NOI of $106,581, yielding a 4.51% cap rate and a pro-forma cap rate of 6.13%. Built in 1956, this property offers significant upside potential, including the possibility of adding an accessory dwelling unit (ADU). The asking price is $1,740,000, or $348,000 per unit. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a highly desirable location, representing a strong investment for the discerning buyer. The property's APN is 035-234-20.

Location Insight

City

Anaheim

County

Orange

State

California

Longitude

-117.903

Latitude

33.8388