16861 Grn Ln Huntington Beach, CA 92649-3530
- Apartment buildings
- 4,606 SF
- 0.19 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 16861 Grn Ln
- Year built
- 1973
- Lot size
- 0.19 lot acres
- Property size
- 4,606 SF
- Property type
- Apartment buildings
- APN
- 178-262-17
- APU
- 17826217
Description
This well-maintained, six-unit apartment building in Huntington Beach, CA, presents a compelling investment opportunity. Located at 16861 Green Ln, 92649, this two-story, 4,606 square foot building sits on an 8,276 square foot lot and boasts 100% occupancy. Built in 1973, the Class B property features six units, each with a private garage, patio or balcony, and fireplace. On-site coin laundry generates additional income. Currently generating a NOI of $105,327 and a 3.51% cap rate, a pro-forma NOI of $132,800 and a 4.43% pro-forma cap rate are projected, indicating significant upside potential. The asking price is $3,000,000 ($500,000 per unit and $651.32 per square foot). The property's prime location offers easy access to the Bolsa Chica Wetlands, Huntington Harbour, Meadowlark Golf Course, the Pacific Ocean, and numerous restaurants and places of worship, all within a mile. All units are on month-to-month leases, providing flexibility for future rent increases. Six parking spaces are available, one per unit. This turnkey property is ready for a new owner to capitalize on its strong performance and potential for growth.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Huntington Beach
- County
- Orange
- State
- California
- Longitude
- -118.044
- Latitude
- 33.717
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
