For Sale
$3,480,000

7862 2Nd StStanton, CA 90680

11-Unit Apartment Building, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 11-unit apartment building in Stanton, CA presents a compelling investment opportunity. Boasting a desirable location near major attractions like Disneyland Resort and The Source OC Shopping Center, this property offers strong potential for future growth. Built in 1971 and extensively renovated in 2023, the property features a mix of one- and two-bedroom units, totaling 8,475 square feet of net rentable space. The building includes 20 parking spaces (11 garages and 9 surface spots), a renovated on-site laundry room, and attractive exterior features such as new paint, double-pane vinyl windows, and landscaping. Interior renovations include new vinyl plank flooring, granite countertops, lighting, vanities, and paint. The property benefits from a 100% occupancy rate, generating a current NOI of $189,043 and a pro-forma NOI of $204,175, representing a 5.43% cap rate and a pro-forma cap rate of 5.87%. The asking price is $3,480,000, or $316,363.64 per unit, and the property sits on a 0.45-acre lot. The building is all-electric, eliminating gas expenses, and features separately metered electricity and security screen doors. Upper units offer private balconies, and a tenant seating area is located at the rear of the building. This turnkey investment is a rare find in a high-demand area, offering immediate cash flow and significant upside potential. The property's strong financials, recent renovations, and prime location make it an ideal addition to any portfolio. The APN is 07923205.

Highlights

  • Attractive garden-style two-story walk-up with excellent curb appeal.
  • Recently renovated exterior featuring new paint, double-pane vinyl windows, security screen doors, and garage doors.
  • Updated interiors boast new vinyl plank flooring, granite countertops, lighting, vanities, and paint.
  • 1971 construction; features wall AC, 20 parking spaces (garage & open), and a resident seating area.
  • On-site laundry, electric building (no gas expense), individual electric meters, and electric water heaters.
  • Desirable unit mix of one- and two-bedroom units; upper units include balconies.

Property Details for 7862 2Nd St

Property type
Apartment buildings
Square Feet
8,475 SF
Class
C
Year Built/Renovated
1971/2023
Buildings
1
Stories
2
Lot Size (sq. ft)
19,602 SF
Units
11

Location Insight

City
Stanton
County
Orange
State
California
Latitude
33.8024822
Longitude
-117.9930967
7862 2Nd St, Stanton, California

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7862 2Nd St
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