4302 Howard Avenue
5 Units | Built in 1998 | Townhomes & Flats
Marketing description
4302 Howard Avenue is a five-unit multifamily property in the heart of Los Alamitos, a tightly held submarket where quality product rarely trades. Built in 1998, the asset consists of 5,611 rentable square feet on a 0.22-acre lot. The unit mix suits the family-oriented Los Alamitos renter and features a blend of townhome and flat configurations: one 3BR/2.5BA townhome, two 2BR/1.5BA townhomes, one 3BR/2.5BA flat, and one 2BR/2BA flat. At 4.3 square miles with a population under 12,000, Los Alamitos has no meaningful path to new supply, supporting long-term rent growth and occupancy.
Los Alamitos is one of the most desirable rental markets in northern Orange County, and the schools are the headline. Los Alamitos Unified ranks in the top 5% of California districts with a 98% graduation rate and an A+ Niche grade, while Los Alamitos High ranks in the top 10% statewide. That reputation anchors a tenant base of professionals, military families tied to the Joint Forces Training Base, and longer-tenured renters who stay for the lifestyle.
Daily needs are covered at Old Ranch Town Center in adjacent Rossmoor (Sprouts, Target, Kohl’s, Ralph’s), with Trader Joe’s and Whole Foods a short drive south. Weekends mean El Dorado Park and Nature Center minutes west and Seal Beach 10 to 15 minutes down the road. The 605, 405, and 22 freeways are within a block, putting Long Beach, Downtown LA, Irvine, and John Wayne Airport in easy reach. For renters, it adds up to top-tier schools, a small-town feel, and the coast at the end of the workday.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Investment highlights
Five-unit multifamily property in highly desirable Los Alamitos, one of Orange County’s most tightly held rental markets
1998 construction with a large family-oriented unit mix of 2 and 3-bedroom residences
Select townhome-style units, private yards, central A/C, and washer/dryer hookups
Spacious floor plans averaging more than 1,100 square feet per unit
Ample parking with 4 single-car garages, 1 double-car garage, and 5 surface spaces
Offered at a 4.50% current cap rate with upside to a 5.39% cap rate on market rents
Located near top-rated Los Alamitos schools, major retail centers, and the Joint Forces Training Base
Excellent regional access near the 605, 405, and 22 freeways, with Seal Beach and Long Beach nearby
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