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128 N Pixley St 3 Unit Apartment Building $2,995,000 ($998,333/Unit) 5.15% Cap Rate Orange, CA 92868
INVESTMENT HIGHLIGHTS
- Walking distance to Old Towne
- Three houses on one lot
EXECUTIVE SUMMARY
Three houses on one lot. The property is currently leased until 6/30/2026. The property is under the Mills Act. The taxes were $ 9,174 for 2024. The properties are in the best location to access the plaza and Chapman University. Tankless hot water heaters, separate meters, fire sprinklers, off-street parking, drought-tolerant landscaping, and are designed to be cost-efficient.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$200,520
|
$51.42
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,015
|
$1.54
|
| Effective Gross Income |
$194,505
|
$49.87
|
| Taxes |
$9,176
|
$2.35
|
| Operating Expenses |
$31,181
|
$8.00
|
| Total Expenses |
$40,357
|
$10.35
|
| Net Operating Income |
$154,148
|
$39.53
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $200,520 |
| Annual Per SF | $51.42 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,015 |
| Annual Per SF | $1.54 |
| Effective Gross Income | |
|---|---|
| Annual | $194,505 |
| Annual Per SF | $49.87 |
| Taxes | |
|---|---|
| Annual | $9,176 |
| Annual Per SF | $2.35 |
| Operating Expenses | |
|---|---|
| Annual | $31,181 |
| Annual Per SF | $8.00 |
| Total Expenses | |
|---|---|
| Annual | $40,357 |
| Annual Per SF | $10.35 |
| Net Operating Income | |
|---|---|
| Annual | $154,148 |
| Annual Per SF | $39.53 |
PROPERTY FACTS
| Price | $2,995,000 | Building Class | C |
| Price Per Unit | $998,333 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 3,900 SF |
| Cap Rate | 5.15% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 2.56/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 - A multiple-family residential district which allows apartments, condominiums, and townhomes. | ||
| Price | $2,995,000 |
| Price Per Unit | $998,333 |
| Sale Type | Investment |
| Cap Rate | 5.15% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 3,900 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 2.56/1,000 SF |
| Zoning | R-3 - A multiple-family residential district which allows apartments, condominiums, and townhomes. |
AMENITIES
UNIT AMENITIES
- Patio
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+2 | 1 | $6,160 | 1,500 |
| 5+3 | 1 | $7,450 | 1,600 |
| 2+1 | 1 | $3,100 | 800 |
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Walk Score®
Walker's Paradise (90)
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128 N Pixley St
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