This exceptional 7-unit apartment building presents a turnkey investment opportunity in Huntington Beach, California. Situated on a 0.19-acre lot at 16972 Lynn Lane (APN 178-261-08), this two-story, 4,670 square foot building boasts a desirable Huntington Harbor location, just one mile from the beach. Built in 1976 and extensively renovated in 2024, the property features a mix of unit sizes: one 2-bedroom/1-bathroom, five 1-bedroom/1-bathroom, and one studio apartment. Recent upgrades include new hardwood floors, kitchen cabinets, bathroom tile, interior paint, a new roof (February 2020), and new windows. The property offers ample parking with six individual garages, six assigned spaces, and additional street parking. Residents enjoy a convenient on-site laundry room, and all units have separate gas and electric meters. The property's strong financial performance is reflected in its 100% occupancy rate, $130,491 NOI, and a 3.96% cap rate (pro-forma NOI of $149,977 and a 4.55% pro-forma cap rate). Nearby amenities include Trader Joe's, Bank of America, Chase Bank, and Huntington Harbor Medical Center. This meticulously maintained property offers a compelling blend of location, recent renovations, and strong financial performance, making it an ideal investment. The asking price is $3,295,000, representing $470,714 per unit. The property is zoned for multifamily use.
Highlights
Excellent turnkey investment opportunity with strong owner pride.
Extensive renovations including hardwood floors, kitchen cabinets, bathroom tile, interior paint, and windows.
New roof installed February 2020.
Six individual garages, six assigned open parking spaces, plus street parking.
Amenities include a community laundry room, patios, and balconies.
Each unit features separate gas and electric meters.
Apartment building - 7-unit turnkey apartment building, prime location
Where is the apartment building located?
The property is located at 16972 Lynn Ln Huntington Beach, CA.
What is the asking price?
The asking price for this property is $3,295,000.
What are key features of this property?
This property features: Excellent turnkey investment opportunity with strong owner pride.; Extensive renovations including hardwood floors, kitchen cabinets, bathroom tile, interior paint, and windows.; New roof installed February 2020.
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Contacts
Mark Bridge
Jonathan Mitchell
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Lynn Ln Huntington Beach, CA 92649
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Lynn Ln Huntington Beach, CA 92649
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16972 Lynn Ln
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