1116 West Ave - Apartments FOR SALE


Fullerton, CA 92833
$2,525,000 USD
714-713-9086
1116 West Ave, Fullerton, CA for Sale
$2,525,000 USD
Apartments - FOR SALE
1/16
null | 4.49% Cap Rate

1116 West Ave
Fullerton, CA 92833


HIGHLIGHTS

  • Ideal 10-Unit Mix: Perfectly balanced with five 2-bed/1-bath and five 1-bed/1-bath units.
  • Proven Value-Add Upside: Three units fully renovated and two partially renovated, leaving a clear path to modernize the remaining five units.
  • Heavy Cap-Ex Completed: Ownership recently completed 2025 SB-721 compliance, added ceiling insulation, and upgraded the main drain cleanout.
  • Strong Tenant Draws: 10 single-car garages, an on-site laundry facility, a 4-camera security system, and new privacy walls for the two-bedroom units.
  • Prime Orange County Location: Quiet Fullerton residential setting surrounded by single-family homes.

OVERVIEW

The Leeson Group of Marcus & Millichap is pleased to present 1116 West Avenue, a 10-unit multifamily property located in Fullerton, California. Built in 1955, the property consists of approximately 5,733 rentable square feet situated on a 0.35-acre lot. The balanced unit mix includes five two-bedroom/one-bathroom units and five one-bedroom/one-bathroom units, appealing to a broad renter base. The property also offers 10 single-car garages and an on-site laundry facility. Ownership has completed varying levels of interior improvements throughout the property. Units B, H, and J have been fully renovated, while Units A and F have been partially renovated. Additional upgrades include two dual-pane windows in Unit A, a re-enameled sink in Unit C, and a new ceiling fan in Unit E. With several units already improved and others retaining further renovation potential, a prospective buyer may have an opportunity to continue interior upgrades over time and further enhance the property's rental profile, subject to market conditions and applicable regulations. Ownership has also completed a broad range of capital and property improvements since 2021. These include privacy walls at the two-bedroom units, a new main drain cleanout, insulation in ceilings throughout all 10 units, a four-camera security system, new concrete and paving improvements behind the garages and laundry area, and SB 721 work completed in 2025. Three water heaters have been replaced and equipped with earthquake straps, while single-handle shower faucets have been installed throughout the property with the exception of Unit K. The laundry room has also received upgrades, including a new door, outlets, and switches. Situated in an established Fullerton residential neighborhood, 1116 West Avenue is surrounded primarily by single-family housing while remaining convenient to the area's major retail, recreational, and transportation amenities. Harbor Boulevard and Euclid Street provide nearby access to grocery-anchored shopping centers, restaurants, and everyday services, while Independence Park and area schools are also within close proximity. The property's central Fullerton location further provides convenient access to Interstate 5 and State Route 91. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$2,525,000 USD

PRICE/SF

$440 USD /SF

# OF UNITS

10

PRICE/UNIT

$252,500

CAP RATE

4.49%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,233 SF

ZONING

RM

APN/PARCEL ID

031-363-21

ASK ABOUT THIS PROPERTY

Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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Tyler LeesonMarcus & MillichapMore Info
714-713-9086

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.