This exceptional 4-unit apartment building, situated on a 0.17-acre lot in Anaheim, CA (92805), presents a compelling investment opportunity. Built in 1986, the property boasts 3,473 square feet of net rentable space, with each of the four units offering two bedrooms, in-unit laundry hookups, private balconies, security doors, and dual-pane windows. Residents enjoy gated pedestrian access to a spacious courtyard and ample garage parking (two spaces per unit), along with individual water heaters and central air conditioning. The property's strong financial performance is highlighted by a current NOI of $68,744 and a pro-forma NOI of $88,532, translating to a current cap rate of 3.82% and a pro-forma cap rate of 4.92%. The asking price is $1,799,000, or $449,750 per unit. Further enhancing its value, the property is currently undergoing the permitting process for a 512-square-foot accessory dwelling unit (ADU), which would significantly increase rental income. Its convenient location between Downtown Anaheim and Downtown Fullerton provides easy access to numerous parks, schools, retail centers, and major freeways (SR-91 and I-5), placing residents near employment hubs and popular attractions such as Disneyland, Anaheim Packing District, and Fullerton Town Center. The property's strong tenant demand, coupled with the potential for ADU development, makes it an attractive investment prospect. Drive-by only
Highlights
Spacious two-bedroom floor plans.
Rare 1980s construction on a large corner lot.
SB-721 balcony work complete and approved.
512 sq ft ADU potential, permit pending.
Gated pedestrian access and common area yard.
Units include in-unit laundry, individual water heaters, private balconies, security doors, central AC, and dual-pane windows.
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Contacts
Tyler Leeson
Christian Tait
Matthew Kipp
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301 Mills Dr, Anaheim, California, 92805
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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301 Mills Dr
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