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Danielle DeCoursey

decourseyd84@gmail.com +1(585) 732-5963

$1,395,000

Est. payment - /mo

8,454 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26240216

HOA Y/N No

Year Built 1958

Lot Size 8,454 Sqft

Property Sub-Type Quadruplex

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 buyers seeking lasting value in Orange County.

Location

State CA

County Orange

Area 699 - Not Defined

Interior

Heating Forced Air

Cooling None

Fireplaces Type None

Fireplace No

Laundry Electric Dryer Hookup, Gas Dryer Hookup

Exterior

Parking Features Assigned

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description 2-5 Units/Acre, Corner Lot

Story 1

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 25017315

Energy Description 1479.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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Listed by Paul Banke Kirklen Investment Group #02113308

NEARBY SCHOOL & BUSINESS

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1516 W Juno Anaheim, CA 92802