123 Lincoln AveFullerton, CA 92831

Property Details for 123 Lincoln Ave

Year built

1955

Lot size

0.21 AC

Property size (Sq ft)

5,386 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

033-183-29

APU

3318329

Description

This exceptional 12-unit apartment building, known as the Lincoln Apartments, presents a compelling investment opportunity in Fullerton, California. Located at 123 S Lincoln Ave, 92831, this stabilized multifamily property boasts a total of 9,873 square feet situated on a substantial 21,344 square foot lot. The property consists of four, two-story buildings, built in 1955 and extensively renovated in 2023. Currently operating at 100% occupancy, the Lincoln Apartments generate a Net Operating Income (NOI) of $229,503, with a pro-forma NOI projected at $264,423, reflecting a 4.68% cap rate and a pro-forma cap rate of 5.40%. The asking price is $4,900,000, translating to $496.30 per square foot and $408,333.33 per unit. Key features include ample parking, private garages with potential for Accessory Dwelling Unit (ADU) conversion, private patios, and in-unit washer/dryer hookups. Its convenient cul-de-sac location near downtown Fullerton offers residents easy access to local amenities. This turnkey investment provides immediate cash flow with significant upside potential, making it an attractive opportunity for discerning investors seeking a stable and appreciating asset in a desirable location. The property's APN is 03318328/29.

Location Insight

City

Fullerton

County

Orange

State

California

Latitude

33.8694

Longitude

-117.911

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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