413 N Tustin Ave, Anaheim, CA 92807

Property Description

413 N. Tustin Avenue is a 4-unit apartment building in East Anaheim. The property is conveniently located near the 55 and 91 Freeways, on the border of Orange, and is just minutes away from Anaheim Hills, Yorba Linda and Villa Park. According to the assessor, the building structure is 3,413 square feet and sits on a 8,712 square foot lot. The 4-plex features an attractive unit mix of (2) 2 Bedroom 2 Bath Units & (2) 1 Bedroom 1 Bath Units. The downstairs units have small private patios and the upstairs units feature a small balcony just off the units entry door. The units are equipped with wall heaters and wall A/C units. All units have an assigned carport parking space that includes an additional 1 car uncovered tandem parking space behind the covered carport space. There is a common laundry room with leased equipment. The laundry room, a small storage room off of the laundry room/carport area and extra parking provide additional revenue above the monthly unit rents. Operating expenses are based on 2020 actuals. The CAP rate and Gross Rent Multiplier based on current income are 4.54% and 15.51, respectively. The CAP rate and Gross Rent Multiplier based on proforma income are 5.47% and 13.58, respectively.