6041 Fullerton Ave Buena Park, CA 90621

Property Details for 6041 Fullerton Ave

Year built

1968

Lot size

0.43 lot acres

Property size

10,388 SF

Property type

Commercial real estate

APN

277-071-03

Description

This exceptional 12-unit apartment building, located at 6041 Fullerton Avenue in Buena Park, California, presents a compelling investment opportunity. The property boasts 10,388 square feet of net rentable space, spread across a two-story building constructed in 1968 on a 0.43-acre lot. The units are a desirable mix of one and two-bedroom apartments, each averaging over 850 square feet and featuring vinyl and tile flooring, quartz countertops, and ceiling fans. Residents enjoy amenities such as security doors, a common area front yard, on-site laundry facilities, and ample parking, including carport and surface parking. Recent improvements include the completion of SB-721 balcony repair work and a roof replacement. The property's strong financial performance is highlighted by a current NOI of $199,231 and a pro-forma NOI of $261,389, translating to a current cap rate of 4.69% and a pro-forma cap rate of 6.15%. The asking price is $4,250,000, representing a price per unit of $354,167 and a price per square foot of $409.13. Its prime location, less than a mile from a bustling retail corridor and The Source OC shopping mall, and convenient access to Interstate 5 and State Route 91, provides residents with easy access to major employment centers and a wide array of retail, dining, and entertainment options. The property's proximity to Knott's Berry Farm, a major employer, further enhances its appeal. The Buena Park submarket demonstrates strong performance, with high occupancy rates and significant year-over-year rent growth, making this a highly attractive investment. Drive-by only

Location Insight

City

Buena Park

County

Orange

State

California

Longitude

-117.99974647278

Latitude

33.872661858362