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721 W La Palma AvenueAnaheim, CA 92801

For Sale

$4,795,000

Smart Buyer Rebate $47,950

721 West La Palma Avenue is a 12-unit multifamily investment property located in Anaheim, California. The property offers a highly desirable mix consisting exclusively of two-bedroom units, of which eight are townhome floorplans. Residents enjoy amenities such as private balconies, in-unit laundry, and ample parking in a gated parking garage. Additionally, current ownership has invested significant capital into interior and exterior improvements at 721 West La Palma Avenue including fresh paint, an automatic fire sprinkler system in the parking garage, and upgrades to air conditioning units, stairs, railings, and balconies. 721 West La Palma Avenue’s optimal North Orange County Location, situated between Downtown Anaheim and Downtown Fullerton, provides easy access to a plethora of unique shops, restaurants, and attractions. Additionally, the property places residents in close proximity to the regions top employers including the Anaheim Regional Medical Center, just over 0.25 miles from the property, as well as Disneyland, the Anaheim Convention Center, and California State University, Fullerton, which are all within a 3 mile radius of the property. Furthermore, the property provides residents with convenient access to State Routes 57 and 91, Interstate 5, and multiple train and transit stations, connecting residents to employment hubs throughout Southern California. Given the strength of the overall apartment market within the city of Anaheim, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of activities, transportation, and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 721 West La Palma Avenue.

Listed by Tyler Leeson

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License #01451551

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Marcus & Millichap RE Invest

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tleeson@marcusmillichap.com

Last updated December 05, 2024

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Source: CRMLS #OC24166762

Listing Facts

  • TypeMulti-family
  • NeighborhoodThe Colony
  • Days on Prevu390

Amenities

  • Parking

Location

Mortgage Calculator

Listing History

10/25/2024
Price Decreased
$4,795,000
08/12/2024
Listed by Marcus & Millichap RE Invest
$4,850,000

Property Details for 721 W La Palma Avenue

Association

Amenities

  • Community Features: Curbs, Gutter(s), Sidewalks

Exterior

Construction

  • Number Of Units Total: 12
  • Property Attached: Yes
  • Stories Total: 2
  • Year Built: 1989
  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Entry Location: First level

Measurements

  • Building Area Total: 12,092
  • Building Area Units: Square Feet
  • Lot Features: Street Level
  • Lot Size Acres: 0.30
  • Lot Size Area: 0
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 13,068
  • Lot Size Units: Acres

Financial

Residential Income

  • Cap Rate: 4.43
  • Gross Income: $320,179.00
  • Operating Expense: $98,379.00

Taxes

  • Parcel Number: 27109109

Other

Location

  • Tax Lot: 11

Parking

Parking

  • Garage Spaces: 30
  • Garage: Yes
  • Parking Total: 30

Utilities

Equipment

  • Laundry Features: Washer Hookup, Gas Dryer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Based on information from California Regional Multiple Listing Service, Inc. and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.