133 S Melrose St - Apartments FOR SALE


Placentia, CA 92870
$4,200,000 USD
949-681-8388
133 S Melrose St, Placentia, CA for Sale
$4,200,000 USD
Apartments - FOR SALE
1/14
null | 5.02% Cap Rate

133 S Melrose St
Placentia, CA 92870


HIGHLIGHTS

  • Less than 1 Mile from Cal State University Fullerton & Hope International University, Less than ½ Mile from Valencia High School and Kraemer Jr High
  • Units Have Washer/Dryer Hookups, Separate Hot Water Heaters, Kitchen Pantries, Separate Gas and Electric Meters, Some Units with Patio or Balcony
  • Exterior Renovation Including New Roofs, New Stucco, New Pavilion and BBQ Area, New Courtyard Concrete, New Landscaping, Newly Paved Parking Lot
  • Spacious Property, Large Courtyards, Large Parking Area, Gazebo and BBQ Area
  • Well-located, Turnkey Investment with Immense Tenant and Curb Appeal, Assigned Parking, No Tuck Under Parking
  • Several Retail Centers Next to Property Including Sam’s Club, Home Depot, Smart & Final Extra, and Concentra Urgent Care

OVERVIEW

Mark Bridge with Matthews REIS™ is pleased to present 133 S Melrose St, located in Placentia, CA. This offering allows an investor to acquire a well-located, recently renovated, turnkey investment with immense tenant and curb appeal next to Cal State University Fullerton. Each of the 11-Units has had recent interior renovations ranging from new flooring, new quartz counter tops and refaced cabinets, new lighting, new kitchen and bathroom sinks, new bathroom vanities, new stovetop ovens and hoods, new paint, and some of the units were taken down to the studs. The exterior also had a recent significant renovation completed, including new roofs, new stucco, a new pavilion and BBQ area, new courtyard concrete, new landscaping, newly paved parking lot, some new fencing and paint, new tenant garden boxes, new washers and dryers, and new wall air conditioning. The property offers an excellent unit mix and range of floorplans with no tuck under parking. These 11 units are conveniently located three minutes from the 57 and five minutes from the 91 freeways, allowing tenants easy access to the greater California region and beyond. There are several retail centers next to the property, including Sam’s Club, Home Depot, Smart & Final Extra, and Concentra Urgent Care. There are great schools within a couple miles of the property, including Kraemer Middle school, Valencia Highschool, Hope International University, Cal State Fullerton, Saint Joseph Catholic school, Ruby Drive Elementary School, and Troy High School. Broker of Record, David Harrington License No. 02168060 (CA)

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$461 USD /SF

# OF UNITS

11

PRICE/UNIT

$381,818

CAP RATE

5.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1921

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,124 SF

ZONING

Multi Family

APN/PARCEL ID

339-353-11

ASK ABOUT THIS PROPERTY

Mark BridgeThe Bridge Multifamily Team at MatthewsMore Info
949-681-8388

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Mark BridgeThe Bridge Multifamily Team at MatthewsMore Info
949-681-8388

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