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15121 Van Buren Street 15121 Van Buren St 18 Unit Apartment Building $3,990,000 ($221,667/Unit) 4.46% Cap Rate Midway City, CA 92655
Investment Highlights
- 100% single-story low-density complex, located in the strong Midway City rental market with excellent curb appeal.
- The building has pitched composition shingle roofs, concrete parking surfaces with additional street parking, separate gas and more.
- Beautifully landscaped with white rose bushes, courtyard fountains, and gated pedestrian access on both ends.
- Centrally located at the I-405 and Beach Blvd, the property is within a mile of Costco Wholesale, Whole Foods Market, Target, and more.
Executive Summary
Mark Bridge at Matthews is pleased to present 15121 Van Buren St in the strong Midway City rental market. This garden-style 100% single-story complex is in great condition thanks to quality management and a strong pride of ownership. Comprised of sixteen studios and two one-bed one-bath units, the beautifully landscaped grounds are adorned with white rose bushes and gated pedestrian entry at both ends. The building exterior has newer double pane vinyl windows, pitched shingle roofs and concrete parking surfaces. The building is also separately metered for gas and electricity and has an on-site laundry facility for residents’ use. Each unit has a separate hot water heater and security screen door. All units have upgraded electrical subpanels installed.
The strong Midway City location at Beach Blvd and the 405 Freeway offers an investor the ability to attract quality residents seeking a well-located residence with convenient access to a wide variety of activities and retail amenities. Nearby are Costco Wholesale, Whole Foods Market, Target, Bella Terra, Old World Village, Harbor Freight, Star View Elementary School, Leo Carrillo Elementary School, Vista View Middle School, Park West, and Russell C Paris Park.
Highlights:
• 100% single-story low-density complex, located in the strong Midway City rental market with excellent curb appeal.
• Beautifully landscaped with white rose bushes, courtyard fountains, and gated pedestrian access on both ends.
• The building has pitched composition shingle roofs, concrete parking surfaces with additional street parking, separate gas and electric meters, individual water heaters, security screen doors, new electrical subpanels, and an on-site laundry facility.
• Centrally located at the I-405 and Beach Blvd, the property is within a mile of Costco Wholesale, Whole Foods Market, Target, Bella Terra, Old World Village, Harbor Freight, multiple parks and schools, and surrounded by a variety of shopping centers and entertainment options.
Mark Bridge | Mark.Bridge@Matthews.com | Ph: 949-681-8388
Broker of Record | David Harrington | License # 02168060 (CA)
The strong Midway City location at Beach Blvd and the 405 Freeway offers an investor the ability to attract quality residents seeking a well-located residence with convenient access to a wide variety of activities and retail amenities. Nearby are Costco Wholesale, Whole Foods Market, Target, Bella Terra, Old World Village, Harbor Freight, Star View Elementary School, Leo Carrillo Elementary School, Vista View Middle School, Park West, and Russell C Paris Park.
Highlights:
• 100% single-story low-density complex, located in the strong Midway City rental market with excellent curb appeal.
• Beautifully landscaped with white rose bushes, courtyard fountains, and gated pedestrian access on both ends.
• The building has pitched composition shingle roofs, concrete parking surfaces with additional street parking, separate gas and electric meters, individual water heaters, security screen doors, new electrical subpanels, and an on-site laundry facility.
• Centrally located at the I-405 and Beach Blvd, the property is within a mile of Costco Wholesale, Whole Foods Market, Target, Bella Terra, Old World Village, Harbor Freight, multiple parks and schools, and surrounded by a variety of shopping centers and entertainment options.
Mark Bridge | Mark.Bridge@Matthews.com | Ph: 949-681-8388
Broker of Record | David Harrington | License # 02168060 (CA)
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$295,620
|
$30.63
|
| Other Income |
$2,400
|
$0.25
|
| Vacancy Loss |
$8,869
|
$0.92
|
| Effective Gross Income |
$289,151
|
$29.96
|
| Taxes |
$44,346
|
$4.59
|
| Operating Expenses |
$66,679
|
$6.91
|
| Total Expenses |
$111,025
|
$11.50
|
| Net Operating Income |
$178,126
|
$18.46
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $295,620 |
| Annual Per SF | $30.63 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.25 |
| Vacancy Loss | |
|---|---|
| Annual | $8,869 |
| Annual Per SF | $0.92 |
| Effective Gross Income | |
|---|---|
| Annual | $289,151 |
| Annual Per SF | $29.96 |
| Taxes | |
|---|---|
| Annual | $44,346 |
| Annual Per SF | $4.59 |
| Operating Expenses | |
|---|---|
| Annual | $66,679 |
| Annual Per SF | $6.91 |
| Total Expenses | |
|---|---|
| Annual | $111,025 |
| Annual Per SF | $11.50 |
| Net Operating Income | |
|---|---|
| Annual | $178,126 |
| Annual Per SF | $18.46 |
Property Facts
| Price | $3,990,000 | Apartment Style | Garden |
| Price Per Unit | $221,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 4.46% | Building Size | 7,776 SF |
| Gross Rent Multiplier | 13.5 | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1945 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Zoning | Multifamily - Multifamily | ||
| Price | $3,990,000 |
| Price Per Unit | $221,667 |
| Sale Type | Investment |
| Cap Rate | 4.46% |
| Gross Rent Multiplier | 13.5 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 7,776 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1945 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | Multifamily - Multifamily |
Amenities
Unit Amenities
- Cable Ready
- Disposal
- Heating
- Ceiling Fans
- Oven
- Range
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | $1,343 | 430 |
| 1+1 | 2 | $1,465 | 448 |
1 1
Walk Score®
Very Walkable (81)
Property Taxes
| Parcel Number | 107-180-08 | Total Assessment | $1,777,235 |
| Land Assessment | $1,407,856 | Annual Taxes | $44,346 ($5.70/SF) |
| Improvements Assessment | $369,379 | Tax Year | 2025 |
Property Taxes
Parcel Number
107-180-08
Land Assessment
$1,407,856
Improvements Assessment
$369,379
Total Assessment
$1,777,235
Annual Taxes
$44,346 ($5.70/SF)
Tax Year
2025
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