Cap Rate
3.47%
Price Per Unit
$3,913
Units
4
Year Built
1963
Leasable Area
5,685 SF
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- 4 Unit Building, Built in 1962 in the Garfield Neighborhood of Huntington Beach, CA
- Great Unit Mix of: (2) – 2 Bedroom, 1 Bath Units & (2) – 3 Bedroom, 2 Bath Units
- Units are Large with Private Patios or Balcony, Plenty of Natural Light, and Wall Heaters
- Large Lot with Ample On-Site Parking: (4) – Detached Single- Car Garages & (4) Surface Spaces
- Value Add Opportunity with Over 37% Rental Upside Potential
- 2 Units Recently Refurbished Within the Last 5 Years (Individually Metered for Electricity & Gas)
- Well-Maintained Pride of Ownership Building with Low Operating Expenses
- Tenants Pay for Gas & Electricity (Landlord Only Pays for Water/Sewer & Trash)
- Ideally Situated in a Family-Friendly Neighborhood Cul- De-Sac, Between Ellis and Garfield Avenue, Offering an Abundance of Shopping Centers, Restaurants, Grocery Stores, Retail, and Entertainment Options Nearby
- Property is Subject to AB-1482 (California’s Statewide Rent Control, Allowing Annual Increases of 5% + CPI)
- Conveniently Close to Major Highway (405 & PCH), Providing Residents with Easy Access to All of Orange County
Broker of Record
- David Harrington
- License No. 02168060 (CA)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 2321 Rosecrans Ave.,
Suite 1225, El Segundo, CA 90245