229 S Delano, Anaheim, CA 92804
- $1,650,000
- Sold Price
- $1,650,000
- List Price
- $1,750,000
- Closing Date
- May 08, 2026
- Status
- CLOSED
- MLS#
- OC25275804
- Year Built
- 1968
- Lot Size
- 7,841
- Acres
- 0.18
- Lot Location
- Cul-De-Sac, Sprinkler System, Yard
- Days on Market
- 98
- Property Type
- Multifamily
- Style
- Traditional
- Property Sub Type
- Quadruplex
- Stories
- Two Levels
- Neighborhood
- S Of Lincoln Ave. W Of Beach Blvd.
Property Description
Excellent opportunity to acquire a fully occupied 4-unit property on a cul-de-sac, in the highly desirable West Anaheim rental market. This well-maintained Covington model fourplex is widely regarded as one of the most sought-after 4-plex designs in the area due to its functional layouts, private garages, and strong tenant appeal. Calculated with the current rent increase set for Feb. 1, 2026, The property will be operating at a Gross Rent Multiplier (GRM) of 14.76 with a Cap Rate of approximately 5.67%, offering immediate income with clear upside potential through future rent increases and potentially additional parking income. All four units are occupied by strong, long-term tenants, providing stability and consistent cash flow. Each unit has been updated with newer kitchens and bathrooms, along with newer carpeting and laminate flooring, making the property well positioned for continued tenant retention and future rent growth. Key features include: Private garages for each unit with interior garage laundry, Additional community laundry, creating multiple income streams, Updated windows, Well-maintained exterior and systems, Attractive grass yard courtyard area, enhancing tenant livability and curb appeal, Additional parking income potential. The property is ideally located near major freeway access, shopping, dining, and is just minutes from world-class theme parks, making it extremely attractive to renters and supporting long-term demand. This is a turn-key investment with stable in-place income, desirable unit features, and meaningful upside for investors seeking a well-located Anaheim asset with proven performance and future growth potential.
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Additional Information
- Association Amenities
- Maintenance Front Yard, Trash
- Appliances
- Dishwasher, Disposal, Gas Oven, Water Heater
- Pool Description
- None
- Fireplace Description
- Living Room
- Heat
- Central, Wall Furnace
- Cooling
- Yes
- Cooling Description
- Central Air, Wall/Window Unit(s)
- View
- None
- Exterior Construction
- Frame, Stucco
- Roof
- Composition
- Garage Spaces Total
- 5
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $118,560
- Operating Expense
- 18938
Listing courtesy of Listing Agent: Erik Kaiser (erikfkaiser@gmail.com) from Listing Office: RE/MAX TerraSol.
Listing sold by Thomas Luong from Superior Real Estate Group
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.