2115 Broden Street, Anaheim, CA 92802
- $1,350,000
- List Price
- $1,350,000
- Price Change
- ▼ $150,000 1762057767
- Status
- ACTIVE
- MLS#
- PW25199885
- Year Built
- 1964
- Lot Size
- 3,478
- Acres
- 0.08
- Lot Location
- Sprinklers In Front, Near Public Transit, Sprinkler System, Street Level
- Days on Market
- 326
- Property Type
- Multifamily
- Property Sub Type
- Triplex
- Stories
- One Level
- Neighborhood
- Holiday Harbor Iii Hoa
Property Description
2115 Broden St. is an ideal investment for an investor who wants minimum management responsibilities, great investment potential, and great cash flow. ----MANAGEMENT RESPONSIBILITIES---The owner’s management responsibilities are minimized because the Homeowners Association manages and pays for all the following: insurance, daily grounds clean-up and inspections, landscaping, patrol service, pool service, laundry room, roofs, building painting/repairs, gates, fences, walkways, utilities (including water), and a monthly contribution to a reserve fund that has over $450,000 dedicated to future expenses; all at a cost of only $265 per unit per month. Owners of most other 3-unit buildings would have to pay much more for all those expenses. The major responsibility of the owner of this building is to collect rents. All current tenants use electronic rent payments, are never late, and, therefore, this property is ideal for someone who wants income, growth with inflation protection, and minimum time expenditure. ---GREAT INVESTMENT POTENTIAL----This location of this building ensures continued growth in value. It is one short block east of Harbor Blvd about one-half mile south of Disneyland. Within a ten-minute walk there are many major hotels, restaurants, and businesses that offer employment for residents. Proximity to employment opportunities also means increasing demand for rentals, higher rents, fewer vacancies, which results in increasing property values. Other similar 3-unit rental properties are often in areas that have stable, not increasing, demand and consequently, limited upside potential.-----GREAT CASH FLOW ------This property’s Net Operating Income for the next 12 months will be about $77,000, substantiated by current leases, which are guaranteed by the seller. At a sale price of $1,350,000 and NOI of $73380 the CAP rate is 5.36%. Other similar 3-unit investment properties have significantly lower CAP rates, often below 4% when accounting for realistic income (not “Pro Forma” income) and realistic comprehensive expenses. Located close to Anaheim Convention center, Disneyland, Major hotels & restaurants, Angel Stadium, and UCI Medical Center. Just east of Harbor Blvd south of Orangewood. We just closed has the adjacent triplex at a higher price $1,393,000 in the same complex on June 30 !
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Additional Information
- Taxes
- $5,788
- HOA
- 795
- Frequency
- Monthly
- Association Amenities
- Insurance, Maintenance Front Yard, Picnic Area, Pool, Trash, Water
- Appliances
- Electric Range, Electric Water Heater, Disposal
- Pool Description
- Fenced, Gunite, In Ground, Association
- Fireplace Description
- Living Room, Masonry, Wood Burning
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Exterior Construction
- Stucco, Wood Siding
- Roof
- Composition
- Garage Spaces Total
- 4
- Sewer
- Sewer Tap Paid
- Water
- Public
- Interior Features
- All Bedrooms Down, Bedroom on Main Level, Utility Room, Walk-In Closet(s)
- Attached Structure
- Attached
- Number Of Units Total
- 3
- Gross Scheduled Income
- $100,320
- Operating Expense
- 27940
Listing courtesy of Listing Agent: Rick Violett (rviolett@gmail.com) from Listing Office: Investment Brokers O.C..
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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.