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738 W La Jolla Street, Placentia, CA 92870

Property Details

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738 W La Jolla Street
Placentia, CA 92870

In Escrow / Under Contract: $5,500,000

Property Type: Commercial Apartments
MLS#: OC18089158

  • Building Size: 13758 SF
  • Lot Size: 21344.4 SF
  • Number of Units: 10
  • Number of Stories: 3
  • Year Built: 2018
  • Days on market: 235
  • Cap Rate: 4.52
  • Net Operating Income: $248,464
  • Gross Scheduled Income: $332,904
  • Rent Control: No
  • GRM: 16.03
  • Contact Listing Agent Direct:
  • Mark Bridge, Marcus & Millichap RE Invest

Property Description

CLASS A BUILDING! We are pleased to present a 10 Unit Brand New multifamily property located in the City of Placentia. Situated on almost half an acre lot, the property consists of eight four-bedroom tri-level townhouse style units with two bath each, and two owner style four bedroom tri-level townhouse style units with two and a half bath units. Built in 2018, the ten townhome units offer private garage parking with direct access, ample storage, new appliances, central A/C and Heat, and modern Kitchen and Bathrooms. The units are equipped with brand new interior finishes which include granite counter tops, wooden cabinets, and beautiful flooring throughout. Each unit has their own Garage, Patio, & Balcony. All units are multi-level and separately metered for gas, electric, and water as well. Each unit has their own Washer and Dryer and extra storage closets. The Seller is finishing construction and will have certificates of occupancy by end of May, but is selling now. COE to take place after CO is received. A Buyer has the opportunity to fill up themselves with their own tenants. The Best Rent Comp is for the same style building, just built in 2017 only 50 yards away. They are getting $2,900, so if this building gets the same, you are at 4.5+% CAP Rate for New Construction in Orange County. In addition, the Price/SF is Under $300/SF for New Construction! We have digital building plans, and appraisal at $5mil from 2016 (2 years old), another reason why $5.5mil.

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738 W La Jolla Street, Placentia, CA 92870

Based on information from California Regional Multiple Listing Service, Inc. as of December 11, 2018. 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.

Listing provided by: Mark Bridge, Marcus & Millichap RE Invest

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