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8601 Belmont Street, Cypress, CA

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8601 Belmont Street

Cypress, CA 90630-2192 - Cypress MF Submarket

Property Type:Multi-Family Number of Units:6 Status:Existing Year Built:1992
Stories:2 Building Size:6,470 SF Land Area:.29 AC (12,798 SF)
For Sale Price:$1,850,000 Price/Unit:$308,333.33 Cap Rate:3.41 % GRM:18.53

Parking:1.39 Parking Spaces / 1,000 SF

Sale Notes:

Built in 1992, the Belmont Street apartment community features a unit mix of spacious floorplans consisting of four (3 Bedroom + 2 Bathroom) units, one (2 Bedroom + 2 Bathroom) and one (1 Bedroom + 1 Bathroom). Tenant amenities include central air-conditioning and heat, dishwashers, private balconies or patios, individual water heaters and an on-site laundry facility. In addition, the property is well parked with 12 single car garages and 3 open car spaces. This unique community offers an investor the opportunity to acquire a rare newer constructed multi-family asset, with over 20% upside in rents. 8601 Belmont Street is being offered for sale by the original developer. (CAP Rate shown is based on market rents)

The subject property is located on a corner lot at 8601 Belmont Street in the city of Cypress, CA. within a strong rental market just north of Los Alamitos. Cypress College is located just 3 miles east, major cross streets are Moody Street and Crescent Avenue.

Investment Capital Real Estate, Inc.
Ignacio Diaz
(949) 201-8817

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