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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$1,395,000

Est. payment - /mo

3 Beds

2 Baths

8,454 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26240216

Bedrooms 3

Lot Size 8,454 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

We are pleased to present 1516 W Juno Avenue, a well-maintained, single-story four-unit apartment property offered for the first time in nearly 50 years. Located in an established Anaheim neighborhood, the subject property features a desirable unit mix of (2) one-bedroom/one-bathroom units and (2) two-bedroom/one-bathroom units. The subject property also features amenities such as garage parking, private patios, and an on-site laundry that is currently unused, providing a new owner the opportunity to generate additional income through installation of washer and dryer units. Built in 1958, the single-story building totals 2,952 square feet on an 8,454-square-foot lot, and each unit is separately metered for gas and electricity. At current rents averaging $2,040 per unit, the property generates $66,697 in Net Operating Income against a list price of $1,395,000 ($348,750 per unit, $473 per square foot). In-place rents sit below the comparable set bringing units to market rents of $2,450 (2BR) and $2,150 (1BR) represents a 12.7% lift in rental income. Paired with activating the laundry room and billing RUBS, that path takes NOi to $81,364 and the cap rate on list price from 4.78% to 5.83%. Convenient access to the 1-5 freeway, Disneyland, Downtown Anaheim, the Platinum Triangle and nearby employment centers supports the property's rental appeal, with Loara High School nearby and Ball Junior High School within walking distance. With its single-story layout, stable in-place income and clear opportunities to increase value, 1516 W Juno Avenue presents an attractive investment for

Location

State CA

County Orange

Zoning Assessor

Direction 5 North exit W Ball Rd

Interior

Heating Forced Air Unit

Fireplace No

Exterior

View Y/N No

Building

Story 1

Level or Stories 1

Others

Senior Community No

Tax ID 25017315

Acceptable Financing Cash, Exchange

Listing Terms Cash, Exchange

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Listed by Paul Banke, DRE#02113308 Kirklen Investment Group

Nearby School & Business

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Patricia Beattie

+1(415) 286-8292

Broker License ID: 01405369

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1516 W Juno Anaheim, CA 92802

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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