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$2,400,000
Est. payment /mo
5 Beds
5 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25082560
Bedrooms 5
Property Sub-Type Res Income 2-4 Units
Property Description
1629 W. Ball Road, Anaheim, CA, a beautiful eight-unit apartment community in the heart of Anaheim. This investment offers a rare opportunity to acquire a well-located multifamily asset with strong upside potential, including 20-25% rental growth opportunities. The low-maintenance property ensures easy management, while the high-demand rental market provides stability for investors. The eight-unit apartment building spans 6,564 square feet on a 9,583-square-foot lot. The unit mix consists of two two-bedroom/one-bath units and six one-bedroom/one-bath units. The units are separately metered for electricity and gas. There is a laundry room on-site for additional income potential. Tenants also benefit from the eight-car covered garage with alley access. The Current GRM is 13.79, with a projected pro forma of 11.56. With rents below market rates, pro forma rents indicate a potential 20-25% increase. The current Net Operating Income (NOI) is over $125,000, with room for improvement. 1629 W Ball Road is in a prime Anaheim location near Downtown Anaheim. The property offers exceptional tenant appeal with proximity to major employment centers, shopping, and entertainment. The Disneyland Resort is about 2.5 miles away, Anaheim Plaza & Marketplace is nearby to offer retail and grocery options, and the site is within walking distance to dining and nightlife entertainment options. Additionally, Freeway access is convenient, with quick connections to Interstate 5 and 91 and the 57 Freeway. Current rents are significantly below market, presenting an immediate value-add opportunity for in
Location
State CA
County Orange
Zoning Assessor
Direction Ball Rd. Between Euclid St & S Loara St
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 25015218
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Listed by Stephen Eng Universal Elite Realty