7701 Yorktown Ave, Huntington Beach, CA 92648-7807

Exceptional investment opportunity in Huntington Beach, California, presents the Yorktown Apartments, an 18-unit multifamily property boasting 15,903 square feet of net rentable space. This two-story, two-building complex, built in 1973, sits on a substantial 30,492 square foot lot. Currently priced at $7,600,000 ($478/sq ft and $422,222/unit), it offers a compelling 4.51% cap rate with a pro-forma cap rate of 5.50%. The property generates a current NOI of $343,127, projected to increase to $418,173. An attractive feature is the assumable Fannie Mae financing at a fixed 5.01% interest rate until April 2032, with a loan amount of $3,312,000. The property's unit mix predominantly features two-bedroom floor plans. Its location, less than two miles from the Huntington Beach Pier and boasting a walk score of 76, adds significant value. Further potential exists for the addition of accessory dwelling units (ADUs) by converting existing garages. This represents a rare opportunity, as it's the only Huntington Beach listing with 15+ units currently available, and the first time this property has been on the market in over 30 years.