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Bradford Terrace Senior Apartments 1112 N Bradford Ave 176 Unit Apartment Building $51,000,000 ($289,773/Unit) 3.92% Cap Rate Placentia, CA 92870
INVESTMENT HIGHLIGHTS
- Active Adult Senior Apartments for the 55 and Over Community
- Attractive Unit Mix of One- & Two-Bedroom Floor Plans
- Desirable Unit Features Include Private Patios/Balconies, Ceiling Fans, Dishwashers, Central Heat & A/C & More
- Built in 2002
- Value-Add Opportunity with Significant Rental Upside
- Prime Placentia Location Adjacent to Brea, Yorba Linda and Fullerton
EXECUTIVE SUMMARY
Morgan Skenderian is pleased to present the Bradford Terrace Senior Apartments, a 176-unit, active adult senior apartment building (for the 55+ community) in the city of Placentia. Built in 2002 and situated on over 3 acres of land, the property is comprised of one- and two-bedroom floor plans. Property amenities include gated access, a swimming pool, a spa, laundry facilities, library, fitness center, clubhouse, game room, and picnic area. Units are newly renovated and amenities include kitchen appliances, plank flooring, carpeting, ceiling fans, and a private patio or balcony. Driven by an aging population and through the continued modernization of the remaining units and increases on current rent levels that are projected to be nearly 34% below market, the Bradford Terrace Senior Apartments is a stand-out for a long-term hold strategy with phenomenal growth potential and exceptional future cash-on-cash returns.
Ideally located in the city of Placentia and given its close proximity to Brea, Yorba Linda and Fullerton, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located roughly 1.50 miles from the future Placentia Metrolink Station and roughly 3 miles from where State Route 57 (the Orange Freeway) and State Route 91 (the Riverside Freeway) meet, allowing for ease of access to regional employment hubs in Los Angeles, Orange, and Riverside Counties.
Ideally located in the city of Placentia and given its close proximity to Brea, Yorba Linda and Fullerton, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located roughly 1.50 miles from the future Placentia Metrolink Station and roughly 3 miles from where State Route 57 (the Orange Freeway) and State Route 91 (the Riverside Freeway) meet, allowing for ease of access to regional employment hubs in Los Angeles, Orange, and Riverside Counties.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$3,437,976
|
$28.24
|
| Other Income |
$56,976
|
$0.47
|
| Vacancy Loss |
$104,849
|
$0.86
|
| Effective Gross Income |
$3,390,103
|
$27.85
|
| Taxes |
$585,757
|
$4.81
|
| Operating Expenses |
$804,066
|
$6.61
|
| Total Expenses |
$1,389,823
|
$11.42
|
| Net Operating Income |
$2,000,280
|
$16.43
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $3,437,976 |
| Annual Per SF | $28.24 |
| Other Income | |
|---|---|
| Annual | $56,976 |
| Annual Per SF | $0.47 |
| Vacancy Loss | |
|---|---|
| Annual | $104,849 |
| Annual Per SF | $0.86 |
| Effective Gross Income | |
|---|---|
| Annual | $3,390,103 |
| Annual Per SF | $27.85 |
| Taxes | |
|---|---|
| Annual | $585,757 |
| Annual Per SF | $4.81 |
| Operating Expenses | |
|---|---|
| Annual | $804,066 |
| Annual Per SF | $6.61 |
| Total Expenses | |
|---|---|
| Annual | $1,389,823 |
| Annual Per SF | $11.42 |
| Net Operating Income | |
|---|---|
| Annual | $2,000,280 |
| Annual Per SF | $16.43 |
PROPERTY FACTS
| Price | $51,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $289,773 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.16 AC |
| Cap Rate | 3.92% | Building Size | 121,725 SF |
| Gross Rent Multiplier | 14.59 | Average Occupancy | 97% |
| No. Units | 176 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2002 |
| Property Subtype | Apartment | Parking Ratio | 1.21/1,000 SF |
| Price | $51,000,000 |
| Price Per Unit | $289,773 |
| Sale Type | Investment |
| Cap Rate | 3.92% |
| Gross Rent Multiplier | 14.59 |
| No. Units | 176 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.16 AC |
| Building Size | 121,725 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 2002 |
| Parking Ratio | 1.21/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Storage Space
- Heating
- Ceiling Fans
- Kitchen
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Business Center
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Spa
- Tenant Controlled HVAC
- Gated
- Gameroom
- Package Service
- Smoke Free
- Bicycle Storage
- Conference Rooms
- Elevator
- Lounge
- Online Services
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | $1,360 | 575 |
| 1+1 | 132 | $1,532 | 650 |
| 2+2 | 3 | $1,625 | 775 |
| 2+2 | 36 | $1,936 | 850 |
1 1
Walk Score®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 339-151-37 | Total Assessment | $46,693,152 (2025) |
| Land Assessment | $32,897,448 (2025) | Annual Taxes | $585,757 ($4.81/SF) |
| Improvements Assessment | $13,795,704 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
339-151-37
Land Assessment
$32,897,448 (2025)
Improvements Assessment
$13,795,704 (2025)
Total Assessment
$46,693,152 (2025)
Annual Taxes
$585,757 ($4.81/SF)
Tax Year
2024
CONTACTS
-
Doug Rodermund -
Rick Applebaum -
Paul Espinosa -
Morgan-Skenderian Investment Real Estate Group
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Bradford Terrace Senior Apartments | 1112 N Bradford Ave
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