6
See all 6 photos
$1,395,000
Est. payment /mo
3 Beds
2 Baths
8,454 Sqft Lot
New
1516 W Juno Anaheim, CA 92802
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26240216
Bedrooms 3
Lot Size 8,454 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present 1516 W Juno Avenue, a well-maintained, single-story four-unit apartment property offered for the first time in nearly 50 years. Located in an established Anaheim neighborhood, the subject property features a desirable unit mix of (2) one-bedroom/one-bathroom units and (2) two-bedroom/one-bathroom units. The subject property also features amenities such as garage parking, private patios, and an on-site laundry that is currently unused, providing a new owner the opportunity to generate additional income through installation of washer and dryer units. 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
Location
State CA
County Orange
Zoning Assessor
Direction 5 North exit W Ball Rd
Interior
Heating Forced Air Unit
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 25017315
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Paul Banke, DRE#02113308 Kirklen Investment Group
Nearby Locations
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