For Sale
$3,295,000

16972 Lynn Ln Huntington Beach, CA 92649

7-unit turnkey apartment building, prime location

Overview

Added:
Dec 11, 2024
Days on market:
136
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.

Property Details for 16972 Lynn Ln

Property type
Apartment buildings
Square Feet
4,670 SF
Class
B
Year Built/Renovated
1976/2024
Buildings
1
Stories
2
Lot Size (sq. ft)
8,276 SF
Units
7

Location Insight

City
Huntington Beach
County
Orange
State
California
Latitude
33.715581999256
Longitude
-118.04573574624

FAQs

What type of property is this?
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.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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16972 Lynn Ln
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