For Sale
$7,600,000

7701 Yorktown AveHuntington Beach, CA 92648

18-unit apartment building, prime location

Overview

Added:
Dec 11, 2024
Days on market:
115
Exceptional investment opportunity in Huntington Beach, California, presents the Yorktown Apartments, an 18-unit multifamily property boasting 15,903 square feet of net rentable space. This two-story, two-building complex, built in 1973, sits on a substantial 30,492 square foot lot. Currently priced at $7,600,000 ($478/sq ft and $422,222/unit), it offers a compelling 4.51% cap rate with a pro-forma cap rate of 5.50%. The property generates a current NOI of $343,127, projected to increase to $418,173. An attractive feature is the assumable Fannie Mae financing at a fixed 5.01% interest rate until April 2032, with a loan amount of $3,312,000. The property's unit mix predominantly features two-bedroom floor plans. Its location, less than two miles from the Huntington Beach Pier and boasting a walk score of 76, adds significant value. Further potential exists for the addition of accessory dwelling units (ADUs) by converting existing garages. This represents a rare opportunity, as it's the only Huntington Beach listing with 15+ units currently available, and the first time this property has been on the market in over 30 years.

Highlights

  • Exclusive Huntington Beach Multifamily Offering (15+ units)
  • Assumable Fannie Mae Loan at 5.01% fixed until April 2032, $3,312,000 loan amount
  • Exceptional 30+ Year Ownership Opportunity
  • 15,903 SF building with primarily two-bedroom units on a ±30,492 SF lot
  • Potential for two 400 SF ADU conversions
  • Desirable location, less than 2 miles from Huntington Beach Pier, Walk Score 76

Property Details for 7701 Yorktown Ave

Property type
Apartment buildings
Year Built
1973
Buildings
2
Stories
2
Units
18

Location Insight

City
Huntington Beach
County
Orange
State
California
Latitude
33.679779
Longitude
-117.9936158
7701 Yorktown Ave, Huntington Beach, California

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7701 Yorktown Ave
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