Listed by CBRE - Orange County
$1,440,000
937 E PALMYRA AVE ORANGE CA 92866-2420
Details
APN 390-461-10
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 1,903
Units 4
Cap Rate 2.90%
NOI $41,707
Pro-Forma Cap Rate 4.31%
Pro-Forma NOI $62,077
Price per SqFt $757
Year Built 1946
Buildings 2
Stories 2
Lot Size (SqFt) 8,434
Value-Add Near Old Towne Orange | Vacant SFR + 2 Units
Marketing description
Download Offering Memorandum: https://multifamilysocal.com/listings/937epalmyra/
Investment highlights
- Owner-User Opportunity - 937 E. Palmyra Avenue presents an ideal owner-occupied investment, featuring a detached single-family home at the front of the property with two additional income-producing units behind, allowing an owner to live on-site while offsetting their mortgage with rental income.
- Single-Family Home Delivered Vacant - The single-family home will be delivered vacant at close of escrow, offering an owner-occupant the ability to move in immediately or an investor the opportunity to lease the unit at market rate from day one.
- Significant Upside Potential - Current in-place rents are approximately 33% below market, providing a clear path to value creation.
- Value-Add Opportunity - With rents below market, a new investor can unlock substantial income growth through lease-up at market rates, creating immediate upside upon stabilization. Additional value may be achieved through a potential addition to the single-family home, further enhancing the property’s long-term income and appreciation potential.
- Desirable Unit Mix - The property offers a versatile mix consisting of one (1) detached 2-bedroom/1-bath single-family home and two (2) additional units include one 2-bedroom/1-bath and one non-conforming studio providing broad renter appeal and flexibility for an owner-occupant.
Listing Contacts
Listed by CBRE - Orange County
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$41,707.00
$3,475.58/mo
Valuation Metrics
0
DSCR
2.9%
Cap Rate
2.9%
ROI
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