5710 E La Palma Ave - Apartments FOR SALE


Anaheim, CA 92807- Anaheim Hills
$25,000,000 USD
310-704-9109
5710 E La Palma Ave, Anaheim, CA for Sale
$25,000,000 USD
Apartments - FOR SALE
1/9
null | 7% Cap Rate

5710 E La Palma Ave
Anaheim, CA 92807
Anaheim Hills


HIGHLIGHTS

  • Anaheim Hills, Adjacent to Yorba Linda and Near Nixon Presidential Museum
  • Large 2.99 Acre Lot across the street from CVS, Carls Junior, In-Out, McDonalds, Chipotle and other Retailers
  • Current Zoning to be Converted to Mised Use that will allow for Permanent Housing
  • 7.0 Pro Forma Cap Rate
  • Seller is familiar with the Conversion Process

OVERVIEW

This is an opportunity to convert the Property to a Permanent Residential Property. Currently zoned General Commercial, the City of Anaheim has advised the Seller that the City is desirous of changing the Zoning to Mixed Use Medium. This Zoning change will allow for the conversion of the Property to Permanent Housing. The timing on the change is anticipated to be the middle of June 2025 per the City Planning Department. The Property is currently the Motel 6 and Studio 6 Anaheim Hills. It is comprised of 118 rooms, a large common area with a large pool that can possibly be repositioned as additional living space for the Conversion. Included in Studio 6 are 28 suites. Situated on an approximate 2.9 acre lot, the Property has ample parking 119 spaces. All property showings are to be coordinated through the Listing Agent at 310-704-9109. THE MANAGER IS NOT TO BE DISTURBED OR TO BE ASKED TO SHOW ROOMS. Location: This Conversion Opportunity is located in Anaheim Hills. Anaheim Hills is a community in Orange County in Southern California, directly south of Yorba Linda. Although it is part of Anaheim, it does not border central Anaheim and is geographically separated from that part of the city, so the name Anaheim Hills is used to distinguish it from Anaheim. The Property is located just to the West and is visible from the 91 Freeway off of the Imperial Highway off-ramp. From this offramp the Nixon Presidential Museum is just to the West in the adjacent City of Yorba Linda.

FOR SALE DETAILS

PRICE

$25,000,000 USD

PRICE/SF

$415 USD /SF

# OF UNITS

118

PRICE/UNIT

$211,864

CAP RATE

7%

% LEASED

-

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Anaheim Hills For Profit/Affordable Convert

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

-

PARKING SPACES

140

LAND DETAILS

LAND ACRES

2.99 AC

LAND SF

130,228 SF

ZONING

DA - 5

APN/PARCEL ID

349-081-70

ASK ABOUT THIS PROPERTY

Luis VazquezSPERRYMore Info
310-704-9109

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Luis VazquezSPERRYMore Info
310-704-9109

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