307 N East St, Anaheim, CA 92805

Property Description

307 & 319 N East Street is a well-maintained, 12-unit (6+6) multifamily community consisting of two 6-unit complexes located in the historic Colony neighborhood of central Anaheim, offering investors an opportunity to acquire a core central Orange County asset with an in-place 5.11% cap rate and significant upside. The property's desirable location and dedicated garage parking per unit enhance operational simplicity while appealing to a broad renter base seeking convenience, privacy, and quality housing in one of Orange County's most accessible and amenity-rich neighborhoods. The asset features a well-balanced unit mix of four large 2-bed/1-bath and eight 1-bed/1-bath residences. The property has been thoughtfully maintained, with recent capital improvements including vinyl window replacements and the completion of SB-721 balcony inspection and repair work. Additional upside exists through the property's ADU potential, providing a clear and executable opportunity to increase density and further enhance net operating income.