612 N Olive St - Apartments FOR SALE


Anaheim, CA 92805- The Colony
$5,498,000 USD
213-864-2862
612 N Olive St, Anaheim, CA for Sale
$5,498,000 USD
Apartments - FOR SALE
1/19
null | 5.34% Cap Rate

612 N Olive St
Anaheim, CA 92805
The Colony


HIGHLIGHTS

  • Single Story Construction on 32 787 Sq. Ft. of Land
  • Three Separate Parcels of Land (this could eliminate your need for an On-Site Manager)
  • Potential to sell each Parcel Individually in the Future
  • Great Value Add Upside - 5.34% Current CAP, 7.07% Proforma
  • Potential for Residential Financing for the two - 4-Plexes, and commercial debt for the 9 units
  • First time on the market since 1984

OVERVIEW

Offered for the first time since 1984, this rare 17-unit property is located in Anaheim’s Historic Colony District, just steps from the Packing House. Spanning three separate parcels—two fourplexes and one 9-unit building—the layout allows for residential financing on the fourplexes and eliminates the requirement for an on-site manager. Recent upgrades include fresh exterior paint and electrical improvements to the main panels. The property features a desirable unit mix, garages, open parking, and is not subject to local rent control (only California AB 1482). It offers a solid in-place 5.34% CAP rate, with a pro forma upside exceeding 7.07%.

FOR SALE DETAILS

PRICE

$5,498,000 USD

PRICE/SF

$458 USD /SF

# OF UNITS

17

PRICE/UNIT

$323,412

CAP RATE

5.34%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Olive Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1951

PARKING SPACES

36

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

035-164-27

ASK ABOUT THIS PROPERTY

Patrick SwansonStream Realty Partners, LPMore Info
213-864-2862

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Patrick SwansonStream Realty Partners, LPMore Info
213-864-2862

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