32 Units - Garden Grove: Property For Sale

Properties For Sale 32 Units - Garden Grove

32 Units - Garden Grove

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Drive By Only. Do Not Disturb Tenants. Tenants Do Not Know Property Is For Sale

Offered at:
$6,999,990

Property Description

RE/MAX Commercial - Apartment Sales Division is pleased to present four 8 unit buildings. Eight 1 bdrm 1 bath units in each building. Buildings are situated in sets of 2 with shared court-yards between them. Priced at only 12.5 x gross/5.39 cap rate on current rents. Eight carports per building. Located 2.7 miles from Disneyland.

Anaheim boasts some strong economic indicators. The largest industries in the city are the retail trade, manufacturing, healthcare, and business services. Also, a substantial part of the city's economy is based on tourism thanks to the world famous Disneyland, which attracts an influx of workers and visitors to the area. Thus, real estate investors can consider investing in both single-family homes and vacation rental properties.

As of April 2019, average rent for an apartment in Anaheim, CA is $2082 which is a 8.5% increase from last year when the average rent was $1905, and a 0.1% increase from last month when the average rent was $2080.

One bedroom apartments in Anaheim rent for $1869 a month on average (a 8.35% increase from last year) and two bedroom apartment rents average $2216 (a 7.67% increase from last year).

Unlike some cities, Anaheim isn’t mainly white- or blue-collar. Instead, the most prevalent occupations for people in Anaheim are a mix of both white- and blue-collar jobs. Overall, Anaheim is a city of sales and office workers, service providers, and professionals. There are especially a lot of people living in Anaheim who work in office and administrative support (13.77%), sales jobs (10.29%), and management occupations (8.51%).

The per capita income in Anaheim in 2010 was $26,185, which is middle income relative to California and the nation. This equates to an annual income of $104,740 for a family of four. However, Anaheim contains both very wealthy and poor people as well.

Current Income

Thirty 1-bedroom 1-bath $1,300 each
One 1-bedroom 1-bath $1,325 each
One 1-bedroom 1-bath $1,350 each
Laundry Income $400 monthly
Monthly Total $42,075

Cash Flow Analysis

Gross Scheduled Income $504,900
Operating Expenses $180,396 (35%)
Net Operating Income $324,504

Acquisition Data

Down Payment $1,749,998 (25%)
Loan Amount $5,249,992

Call or E Mail to request a Marketing Package and 10 Year Financial Analysis of this property. Marketing Package includes Complete Property Information, Sales and Rent Comparable Analysis. 10 Year Financial Analysis includes Complete Cash Flow Analysis, Itemized Expenses, Expected Cash Flow, Return on Initial Equity, Expected Gross Income Increase, Tax Benefits, Mortgage Principal Reduction, Expected Appreciation, Depreciation Analysis, Adjusted Cost Basis, Capital Gains Tax On Sale and more.

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