Monterra Springs Apartment Homes
Featuring 90 Renovated Units
Marketing description
Marcus & Millichap is pleased to present the opportunity to acquire Monterra Springs, a 111-unit multifamily community located at 861 Glencliff Street in La Habra, California.
Built in 1969 and situated on a 4.93-acre parcel, the property comprises 93,310 rentable square feet and features a diverse unit mix of one, two, and four-bedroom floorplans, including townhome-style units. The community benefits from a low-density site plan with ample open space and a range of tenant-oriented amenities, including a swimming pool and spa, fitness center, gated access, on-site laundry facilities, and covered and surface parking.
Current ownership has completed renovations to approximately 90 of the 111 units, providing a strong in-place renovation program that has already driven operational upside while leaving a clear path for a new owner to complete the remaining units and further optimize income.
Monterra Springs represents a rare opportunity to acquire a scaled, market-rate multifamily asset in Orange County. According to LoopNet/CoStar, it is currently the only 100+ unit market-rate multifamily property actively listed for sale in the county, underscoring the scarcity of comparable investment opportunities at this size and price point.
The offering provides investors with the ability to acquire a partially renovated asset with demonstrated value-add execution, remaining upside through interior renovations and rental growth, and long-term hold potential within a high-barrier-to-entry Southern California market.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Investment highlights
Only 100+ unit market-rate multifamily listing in Orange County per LoopNet/CoStar
Approximately 90 of 111 units renovated with remaining value-add potential
Diverse mix of one, two, & four-bedroom floorplans including townhome-style units
Situated on a low-density 4.93-acre site with ample open space
Community amenities include pool, spa, fitness center, gated access, & on-site laundry
Covered and surface parking with a desirable 1.59:1 parking ratio
Walking distance to major retail centers along Beach Boulevard & Imperial Highway
Nearby retailers include Trader Joe’s, Target, Walmart, Lowe’s, Sprouts, & Sam’s Club
Close proximity to Oeste Park, Vista Grande Park, & Westridge Golf Club
Convenient access to Orange County & Los Angeles County via Beach Blvd & Imperial Hwy
Nearby schools include La Habra High School & Southern California University of Health Sciences
Strong in-place renovation program with demonstrated operational upside
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