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32662757
32663389

2321 East Omega Avenue, Anaheim, CA 92806

MB
CA 01316702
Matthews
Listed by Matthews
$1,899,000
23 days on market
Updated 20 days ago

Covington Fourplex | 2321 E Omega Ave, Anaheim

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,345
Net Rentable (SqFt) 4,345
Units 8
Cap Rate 4.97%
NOI $94,460
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 7.76%
Pro-Forma NOI $147,360
Price per SqFt $437
Class B
Year Built 1972
Year Renovated 2025
Buildings 1
Acreage 0.190
Zoning Fourplex

Renovated Covington Fourplex – Fully Turnkey, Minutes from Disneyland & Major Employers

Marketing description

We are pleased to present 2321 E Omega Avenue, a beautifully remodeled Covington-style fourplex located in a highly desirable pocket of southeast Anaheim. Built in 1972 and totaling ±4,345 square feet, this pride-of-ownership property has been fully renovated in 2024–2025, offering a truly turnkey investment opportunity for both owner-users and investors seeking strong in-place income and minimal ongoing maintenance. The property features the classic Covington layout with an ideal unit mix consisting of a spacious 3-bedroom, 2-bathroom owner’s unit with a private patio and direct-access two-car garage, two large 2-bedroom, 2-bathroom units each with their own garage, and an updated 2-bedroom, 1-bathroom upper unit featuring a private balcony. Each residence has been tastefully upgraded with modern finishes, including quartz countertops, stainless steel appliances, new cabinetry, updated bathrooms, laminate flooring, recessed lighting, and in-unit washer and dryer hookups.

Situated on a prominent corner lot with only one neighboring building, the property benefits from enhanced privacy, natural light, and convenient access for tenants. Each unit enjoys either a private patio, yard, or balcony, with dedicated garage parking plus additional onsite spaces. The location offers exceptional convenience—just minutes from the 57 Freeway, Anaheim Stadium, the Honda Center, Disneyland, the Platinum Triangle, and the transformational OC Vibe development. Proximity to major employment centers, schools, parks, restaurants, and regional transit hubs ensures consistent rental demand and strong long-term appreciation potential.

Investment highlights

  • Classic Covington-style fourplex constructed in 1972 with timeless curb appeal
  • ±4,345 SF building situated on a highly visible corner lot
  • Extensively renovated in 2024–2025 offering true turnkey ownership
  • Desirable unit mix featuring: (1) 3BD/2BA single-story unit, (2) 2BD/2BA units, and (1) 2BD/1BA upper-level unit
  • Each unit includes private patio/balcony, washer/dryer hookups, and attached garage parking
  • Individually metered for gas and electricity with separate water heaters for each unit
  • Located in a high-demand Southeast Anaheim rental corridor with strong tenant fundamentals
  • Minutes from major employment and entertainment hubs including Disneyland, Angel Stadium, Honda Center, Platinum Triangle, and OC Vibe
  • Convenient access to the 57 Freeway, top area schools, parks, dining, retail, and everyday amenities

Listing Contacts

MB
CA 01316702
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$94,460.00
$7,871.67/mo

Valuation Metrics

0
DSCR
4.97%
Cap Rate
4.97%
ROI

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Additional Information

Name
David Harrington
License
02168060, 01320460 (CA)
Brokerage
Matthews Real Estate Investment Services, Inc
Title
Broker of Record
Brokerage Address
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
Name
Mark Bridge
License
01316702
Brokerage
Matthews REIS
Title
Executive Vice President
Brokerage Address
3161 Michelson Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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