The Leatrice Lane Apartments is an eight-unit apartment building located in the highly desirable rental market of Anaheim, California within the Greater Orange County area. The property offers an attractive unit mix consisting of (2) four bedroom/ two bathroom units, (3) three bedroom/ two bathroom units, (1) three bedroom/ one bathroom unit, and (2) two bedroom/ one bathroom units totaling 9,036 square feet, situated on an 11,014 square foot lot.
The property has gone through an extensive remodel of the interiors and exterior. Some interior upgrades include but are not limited to: new kitchens, stainless steel appliances, backsplashes, quartz countertops, new bathrooms, and new flooring. Common area amenities include: fresh landscaping, enclosed garages, and on-site laundry room.
This offering represents a rare opportunity for an investor to acquire a turnkey, low expense, stable investment in the desirable rental market of Anaheim at a 5.9% CAP Rate and 13% Total Return on current income. The location offers high visibility in an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.
Based on information from California Regional Multiple Listing Service, Inc. as of March 6th, 2019 at 5:36pm PST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.