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1032 Bonita 1032 Bonita St 6 Unit Apartment Building $2,775,000 ($462,500/Unit) 5.03% Cap Rate Tustin, CA 92780
Investment Highlights
- Stabilized Asset
- Brand New Sewer Line
- 5% Cap Rate
Executive Summary
This turnkey, pride-of-ownership asset in Tustin consists of six fully stabilized two-bedroom, one-bathroom units delivering exceptionally strong rental income. The entire property underwent extensive, fully permitted renovations in 2023, offering a modern, low-maintenance operational profile. Capital improvements are further enhanced by a brand-new main sewer line installed just this year. Situated in a highly desirable rental market, the property places tenants moments away from the historic dining and shopping of Old Town Tustin. Furthermore, the location provides seamless access to the 5 and 55 freeways, as well as the nearby Tustin District. This asset is perfectly positioned to deliver immediate, turn-key cash flow and long-term appreciation from day one.
Property Facts
| Price | $2,775,000 | Apartment Style | Low-Rise |
| Price Per Unit | $462,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.03% | Building Size | 4,896 SF |
| Gross Rent Multiplier | 13.96 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 0.61/1,000 SF |
| Price | $2,775,000 |
| Price Per Unit | $462,500 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Gross Rent Multiplier | 13.96 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,896 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.61/1,000 SF |
Amenities
Unit Amenities
- Storage Space
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Recycling
- Storage Space
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 815 |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 500-151-16 | Improvements Assessment | $195,667 |
| Land Assessment | $1,847,158 | Total Assessment | $2,042,825 |
Property Taxes
Parcel Number
500-151-16
Land Assessment
$1,847,158
Improvements Assessment
$195,667
Total Assessment
$2,042,825
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1032 Bonita | 1032 Bonita St
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