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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$29,500,000

Est. payment - /mo

5.17 Acres Lot

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UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26219542

HOA Y/N No

Year Built 1962

Lot Size 5.170 Acres

Property Sub-Type Apartment

Property Description

Rare 80 unit, single story multifamily community on 5.17 contiguous acres in Placentia. The property is 96.25% occupied and offers a 5.80% current underwritten cap rate. Unit mix consists of 79 two bedroom, one bath residences and one one bedroom, one bath plus office. Every unit includes a private enclosed patio, with two parking spaces per residence, including one covered space. Community amenities include a swimming pool, playground, on site laundry, and guest parking. Approximately $834,426 has been invested in capital improvements and major repairs since 2023, including replacement of all property electrical panels, interior renovations, plumbing work, appliance and HVAC replacements, and site improvements. The offering provides a straightforward mark to market opportunity through natural turnover, potential conversion of existing rooms and structures into approximately 2 to 4 ADUs, and long term redevelopment optionality under R 3 zoning. Immediate access to SR 57 and SR 91, near Cal State Fullerton, schools, employment centers, shopping, and the Platinum Triangle. Buyer to independently verify all property, financial, ADU, zoning, and redevelopment information.

Location

State CA

County Orange

Area 84 - Placentia

Interior

Fireplace No

Laundry Common Area

Exterior

Pool Community

Community Features Curbs, Gutter(s), Street Lights, Sidewalks, Pool

Total Parking Spaces 160

Private Pool No

Building

Lot Description Street Level

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 34418102

Energy Description 7185.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

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Listed by Michael Cavner Marcus & Millichap RE Invest mcavner@mmreis.com, DRE #01274709

NEARBY SCHOOL & BUSINESS

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140 W Orangethorpe AVE Placentia, CA 92870