4 Units - Anaheim

Home Properties For Sale

4 Units - Anaheim Auction Sale

2553 E. Terrace St. Anaheim

DRIVE-BY ONLY. Do not disturb tenants. Tenants do not know the property is for sale. Interior inspection with accepted offer.

Offered at:
$1,315,000

Property Description

RE/MAX Commercial - Apartment Sales Division is pleased to present a rare HUGE approx. 5,458 square foot 4 plex consisting of one 3 bedroom 2 bath owners style unit with fireplace, large patio and enclosed garage. One two bedroom 2 bath with balcony and two 2 bedroom 1.5 bath townhouse style units with enclosed patios. All units have enclosed garages—some with direct access to unit. All units have either fully enclosed patio or balcony. Very well maintained. All new vinyl dual pane windows. Extra monthly income of $100-200 could be achieved by utilizing currently unused laundry room. Easy to manage—one tenant takes care of all minor maintenance issues. Room to increase rents for new owner. Market rents are $2,000-2,050 for 2 bedroom units. Cap rate of 4.97% on current rents and 5.89% on realistic market rents.

This property will be auctioned through Southern California Real Estate Auction (www.socalrealestateauction.com). Property Can Be Purchased Prior To Auction With Acceptable Bid/Offer. (minimums will apply). All offers received prior to the auction event period should be submitted by the buyer or buyer's agent. Please contact listing agent for specifics or any questions. All auction buyer/bidders must register and show proof of funds at auction website and cross qualify with Terry Lee-RPM Mortgage tlee@rpm-mtg.com, 949-584-0861. Buyer who is awarded the winning auction bid will pay a 5% buyer’s premium. Online auction will be held for 3 days from March 15-18, 2021. Buyer is encouraged to investigate completely to their full satisfaction.

All property information, photos, virtual tour, seller reports, disclosures, etc. have been completed. Please visit the auction page on the link provided to review all property information and due diligence materials. Seller reserves all services. List price is the starting price of the auction. Buyer to cooperate with sellers 1031 exchange at no cost to buyer. Virtual tour: https://player.vimeo.com/video/511958650. The information contained herein is not verified. Buyers should take all steps necessary to satisfy themselves by consulting third party experts regarding all aspects of the property including accuracy of info provided, Amenities, Inclusions, Exclusions, and any additional info that could factor into a decision to purchase the property.

LIVING IN ANAHEIM

Anaheim is a large city located in the state of California. With a population of 350,365 people and 59 constituent neighborhoods, Anaheim is the tenth largest community in California.

Housing costs in Anaheim are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in California.

Anaheim is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-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 (12.57%), sales jobs (10.89%), and management occupations (8.37%).

Also of interest is that Anaheim has more people living here who work in computers and math than 95% of the places in the US.

Anaheim is one of the most attractive larger cities for people who are young, single, educated, and upwardly-mobile career starters. This makes it a good place to live for young singles in their 20s and 30s and who have undergraduate or graduate degrees and are starting their professional careers. Although Anaheim is a large city, this demographic is significant enough that young professionals will find many others like themselves here, with really good opportunities for friendships, recreation, romance, and more.

Anaheim is one of the most car-oriented large cities in America. A full 80.07% of people drive their car alone to work each day. If you like to drive, you'll love it. And you better. Because walking to work is just not a viable option for most people who live in Anaheim. Highways, wide streets, parking lots, and shopping centers are part of the common Anaheim landscape.

In terms of college education, Anaheim is somewhat better educated than the 21.84% who have a 4-year degree or higher in the typical US community: 25.49% of adults 25 and older in the city have at least a bachelor's degree.

The per capita income in Anaheim in 2018 was $27,501, which is middle income relative to California and the nation. This equates to an annual income of $110,004 for a family of four. However, Anaheim contains both very wealthy and poor people as well.

Income

One 3-Bedroom 2-Bath $2,500
One 2-Bedroom 2-Bath $1,700
One 2-Bedroom 1.5-Bath $1,700
One 2-Bedroom 1.5-Bath $1,640
Monthly Total $7,540

Cash Flow Analysis

Gross Scheduled Income $90,480
Operating Expenses $24,882 (27.5%)
Net Operating Income $65,598

Acquisition Data

Down Payment $328,750 (25%)
Loan Amount $986,250 (75%)

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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