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Romneya Row 1024 W Romneya Dr 13 Unit Apartment Building $7,995,000 ($615,000/Unit) 5.30% Cap Rate Anaheim, CA 92801
Investment Highlights
- Newly constructed 13-unit multifamily community scheduled for completion in Spring 2026 with modern design and minimal near-term capital requirements.
- New construction with high-quality finishes, in-unit laundry, central HVAC, solar, and energy-efficient systems.
- Located near Anaheim’s historic Palm District on tree-lined streets near Downtown Anaheim amenities.
- Desirable two- and three-bedroom floor plans averaging over 1,000 square feet designed for family-oriented living.
- Private patios or balconies, covered parking, storage spaces, and a common BBQ area enhance tenant appeal and retention.
- Steps from the new Patrick Henry Elementary School, the Boys & Girls Club of Anaheim, and Manzanita Park.
Executive Summary
The Leeson Group of Marcus & Millichap is please to present Romneya Row. Scheduled for completion in Spring of 2026, Romneya Row represents a rare, newly-constructed 13-unit investment opportunity situated in a standout location on the edge of the historic Palm District of Anaheim. This area is known for mature, charming historic homes on tree-lined streets with the backdrop of the revitalization of Downtown Anaheim. The property is steps away from the under-construction Patrick Henry Elementary School (literally across the street), the Boys & Girls Club of Anaheim, and Manzanita Skate Park. This location provides families easy access to education, youth programs, and recreational facilities.
In addition, Romneya Row provides tenants access to Anaheim Packing House, Center Street Promenade, local farmers markets, and upcoming OCVibe developments adding entertainment, dining, parks, and events. This proximity delivers the best of both worlds: serene heritage living paired with rising modern conveniences.
Overall, Anaheim stands out as a great place to live with its central Orange County location, world-class entertainment, strong job market in hospitality, healthcare, and business, diverse neighborhoods and ongoing revitalization. This mix delivers a dynamic “live, work, and play” energy with excellent connectivity to beaches, Los Angeles, and beyond. These strengths drive high demand, stable living, and strong longterm value, especially for standout communities like Romneya Row.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
In addition, Romneya Row provides tenants access to Anaheim Packing House, Center Street Promenade, local farmers markets, and upcoming OCVibe developments adding entertainment, dining, parks, and events. This proximity delivers the best of both worlds: serene heritage living paired with rising modern conveniences.
Overall, Anaheim stands out as a great place to live with its central Orange County location, world-class entertainment, strong job market in hospitality, healthcare, and business, diverse neighborhoods and ongoing revitalization. This mix delivers a dynamic “live, work, and play” energy with excellent connectivity to beaches, Los Angeles, and beyond. These strengths drive high demand, stable living, and strong longterm value, especially for standout communities like Romneya Row.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$584,880
|
$44.56
|
| Other Income |
$11,050
|
$0.84
|
| Vacancy Loss |
$17,546
|
$1.34
|
| Effective Gross Income |
$578,384
|
$44.06
|
| Taxes |
$90,847
|
$6.92
|
| Operating Expenses |
$63,969
|
$4.87
|
| Total Expenses |
$154,816
|
$11.79
|
| Net Operating Income |
$423,568
|
$32.27
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $584,880 |
| Annual Per SF | $44.56 |
| Other Income | |
|---|---|
| Annual | $11,050 |
| Annual Per SF | $0.84 |
| Vacancy Loss | |
|---|---|
| Annual | $17,546 |
| Annual Per SF | $1.34 |
| Effective Gross Income | |
|---|---|
| Annual | $578,384 |
| Annual Per SF | $44.06 |
| Taxes | |
|---|---|
| Annual | $90,847 |
| Annual Per SF | $6.92 |
| Operating Expenses | |
|---|---|
| Annual | $63,969 |
| Annual Per SF | $4.87 |
| Total Expenses | |
|---|---|
| Annual | $154,816 |
| Annual Per SF | $11.79 |
| Net Operating Income | |
|---|---|
| Annual | $423,568 |
| Annual Per SF | $32.27 |
Property Facts
| Price | $7,995,000 | Property Subtype | Apartment |
| Price Per Unit | $615,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 5.30% | Construction Status | Under Construction |
| Gross Rent Multiplier | 13.42 | Building Size | 13,126 SF |
| No. Units | 13 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2026 |
| Price | $7,995,000 |
| Price Per Unit | $615,000 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 13.42 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.39 AC |
| Construction Status | Under Construction |
| Building Size | 13,126 SF |
| No. Stories | 1 |
| Year Built | 2026 |
Amenities
Unit Amenities
- Balcony
- Storage Space
- Washer/Dryer
- Ceiling Fans
- Eat-in Kitchen
- Stainless Steel Appliances
- Walk-In Closets
- Double Pane Windows
- Island Kitchen
- Vinyl Flooring
- Large Bedrooms
- Quartz Countertops
Site Amenities
- Picnic Area
- Gated
- Grill
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 5 | - | 826 - 956 |
| 3+2 | 8 | - | 1,004 - 1,570 |
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Property Taxes
| Parcel Number | 271-012-33 | Total Assessment | $943,500 |
| Land Assessment | $943,500 | Annual Taxes | $90,847 ($6.92/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
271-012-33
Land Assessment
$943,500
Improvements Assessment
$0
Total Assessment
$943,500
Annual Taxes
$90,847 ($6.92/SF)
Tax Year
2025 Payable 2025
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Romneya Row | 1024 W Romneya Dr
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