14200-14231 Springdale St - Apartments FOR SALE


Westminster, CA 92683
$5,950,000 USD
714-713-9086
14200-14231 Springdale St, Westminster, CA for Sale
$5,950,000 USD
Apartments - FOR SALE
1/18
null | 3.87% Cap Rate

14200-14231 Springdale St
Westminster, CA 92683


HIGHLIGHTS

  • Rare opportunity to acquire 2 contiguous parcels, featuring 14 multifamily units in Westminster, CA
  • The garages at 14231 Springdale are set up ideally for conversion to accessory dwelling units (ADUs) potentially allowing for 3 new units
  • The 0.55-acre, R5 zoned parcel at 14200 offers a prime new development opportunity for 13 new units
  • 27 total parking spaces | On-site laundry facility
  • Easy access to popular regional destinations including Little Saigon, Huntington Harbour, Bolsa Chica State Beach, Westminster Mall, & Bella Terra
  • In close proximity to Interstate 405 & State Route 22

OVERVIEW

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 14200 & 14231 Springdale Street, a 14-unit, value-add multifamily investment opportunity located in Westminster, CA. Located on the border of Westminster & Huntington Beach, 14200 & 14231 Springdale Street is uniquely placed in-close proximity of the area's top destinations and major employment hubs including Little Saigon, Huntington Harbour, Westminster Mall, & Bella Terra, all of which are situated within 3 miles of the property. Furthermore, the property’s proximity to Interstate 405 and State Route 22 provides residents with convenient access throughout Southern California. 14231 Springdale Street offers an attractive mix of 11, one-bedroom units, 2, two-bedroom units, & 1, three-bedroom unit on a 0.42-acre parcel while 14200 Springdale Street features no improvements on a spacious 0.55-acre parcel. There are a plethora of scenarios for new ownership to increase total unit count, such as converting the existing garage structure into accessory dwelling units (ADUs) and constructing a new 13-unit multifamily structure on the vacant parcel (14200), both of which could potentially increase cashflow significantly. Currently, the property features desirable amenities including a spacious front yard, an on-site laundry facility, and ample garage and surface parking spaces. In summary, the property's fantastic location, on the border of Huntington Beach & Westminster, offers residents access to a variety of employment, transportation, and retail amenities, all of which will attract a diverse renter pool. With substantial upside and strong rental metrics, 14200 & 14231 Springdale Street represents an attractive opportunity for a new owner seeking well-located units. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s)*

FOR SALE DETAILS

PRICE

$5,950,000 USD

PRICE/SF

$646 USD /SF

# OF UNITS

14

PRICE/UNIT

$425,000

CAP RATE

3.87%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Huntington Westminster Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

R5

APN/PARCEL ID

195-142-06,195-142-07

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 Policy.