UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26240216
HOA Y/N No
Year Built 1958
Lot Size 8,454 Sqft
Property Sub-Type Quadruplex
Property Description
Built in 1958, the single-story building totals 2,952 square feet on an 8,454-square-foot lot, and each unit is separately metered for gas and electricity. At current rents averaging $2,040 per unit, the property generates $66,697 in Net Operating Income against a list price of $1,395,000 ($348,750 per unit, $473 per square foot).
In-place rents sit below the comparable set bringing units to market rents of $2,450 (2BR) and $2,150 (1BR) represents a 12.7% lift in rental income. Paired with activating the laundry room and billing RUBS, that path takes NOi to $81,364 and the cap rate on list price from 4.78% to 5.83%.
Convenient access to the 1-5 freeway, Disneyland, Downtown Anaheim, the Platinum Triangle and nearby employment centers supports the property's rental appeal, with Loara High School nearby and Ball Junior High School within walking distance. With its single-story layout, stable in-place income and clear opportunities to increase value, 1516 W Juno Avenue presents an attractive investment for buyers seeking lasting value in Orange County.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Heating Forced Air
Cooling None
Fireplaces Type None
Fireplace No
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Parking Features Assigned
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre, Corner Lot
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 25017315
Energy Description 1479.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
MORTGAGE CALCULATOR
NEARBY SCHOOL & BUSINESS
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