4891 Grace Ave Cypress, CA 90630

Property Details for 4891 Grace Ave

Year built

1945

Property size

3,563 SF

Property type

Commercial real estate

APN

262-312-04

Description

Exceptional investment opportunity in Cypress, CA, presents a three-unit apartment building ideally suited for a 1031 exchange. This property, located at 4891 Grace Ave, 90630, boasts a total of 3,563 square feet on a 7,406 square foot lot. The building, classified as Class C, was constructed in 1945 and underwent renovations in 2000 and 2015. The property features a mix of unit configurations, including a single-family residence and a duplex, each with its own HVAC system, separate garages or carports, and individual laundry hookups. The single-family residence comprises approximately 1,120 square feet with three bedrooms and two bathrooms. The duplex offers a three-bedroom, two-bathroom unit and a separate two-bedroom, one-bathroom unit, totaling approximately 2,443 square feet. Each unit benefits from separate electric, gas, and water meters. The property is zoned SFR-Multi, offering flexibility for future use. With an asking price of $1,899,000 ($633,000 per unit and $532.98 per square foot), this represents a compelling investment opportunity with strong potential for rental income and appreciation. The property's location in Orange County provides access to a thriving rental market. This well-maintained property offers a blend of classic charm and modern updates, making it an attractive option for tenants and investors alike. The corner lot location adds to its appeal. This is a turnkey investment ready for immediate income generation.