209 E Valencia Dr, Fullerton, CA 92833

Property Description

The Downtown Fullerton Apartments boast late 1989 construction and possess a desirable unit mix of 8 (2+2). All of the units are spacious with nearly 900 sf of living space and are appointed with central AC/Heat and separate gas & electric meters for each tenant. There is a common laundry room for additional owner income. Some of the units offer private patios and balconies offering tenants additional amenities and creating higher tenant demand. There is ample tenant parking with 2 enclosed garages, 12 tuck-under carport spaces and 4 open spaces in the rear. The roofs are pitched with heavy Spanish concrete tiles - offered at an attractive 4.8 cap/12.9 GRM actual rents and a 5.4 Cap/12 GRM on realistic proforma rents. The subject property is ideally located in downtown Fullerton within walking distance to numerous entertainment venues, restaurants and the Fullerton Amtrak Train Station. The subject property is located in the award winning Fullerton School District, within 1 mile of Fullerton College, within 2 miles of California State University Fullerton (California's largest public university) and 2 miles of 91 freeway with close access to 5 & 57 freeways and numerous OC & LA employment centers.