1804 Glen AveAnaheim, CA 92801

Property Details for 1804 Glen Ave

Year built

1962

Property type

Apartment buildings

Description

This Anaheim, California multifamily investment property, located at 1804 W Glen Ave, 92801, presents a compelling value-add opportunity. The property consists of a single-story, 1962-built building encompassing 3,470 square feet of net rentable space, divided into four spacious two-bedroom, two-bathroom units. Currently boasting 100% occupancy, the property generates a net operating income (NOI) of $53,096, representing a 3.54% capitalization rate. However, a pro-forma NOI of $83,984, indicating a 5.60% pro-forma cap rate, suggests significant upside potential through strategic improvements and rental increases. Each unit includes four parking spaces, and there are five garages on the property, offering additional value and potential for conversion. The property is fee simple ownership with no ground lease. Situated in a prime Anaheim location, just seven minutes from Disneyland Resort, this asset benefits from strong tenant demand due to its proximity to public transportation, shopping, and dining. The property's well-maintained condition and desirable unit layout provide a solid foundation for value-added enhancements, making it an attractive investment for those seeking to increase rental income and property value. Alley access is also available.

Location Insight

City

Anaheim

County

Orange

State

California

Latitude

33.848

Longitude

-117.945

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