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Casa La Palma Apartments 2701 E La Palma Ave 81 Unit Apartment Building $22,850,000 ($282,099/Unit) 5.16% Cap Rate Anaheim, CA 92806
Investment Highlights
- Developed and Constructed by Current Ownership in 1973 – First Time on the Market
- All Electric Units with Individual Meters, Central A/C, and Individual Water Heaters
- Excellent East Anaheim Location with Significant Frontage on La Palma Avenue
- Large 1 and 2 Bedroom Units Situated on Over 3.2 Acres
- Well-Maintained Building with New Roof, GE Subpanels, and SB 721 Clearance
- Approximate 7% Cap Rate on Market Rents
Executive Summary
Triqor Group is pleased to present Casa La Palma Apartments, a well maintained multifamily investment opportunity in East Anaheim. Developed and constructed by the current ownership and offered for sale for the first time, the property was built in 1973 and is situated on more than 3.2 acres. The community features large one- and two-bedroom floor plans with central air conditioning, electric heating and cooking, individual electric water heaters, and individual electric meters. Property amenities include a pool, BBQ area, owned laundry facility, leasing office, gated entrance, and security camera system. Recent capital improvements include a new roof and SB 721 clearance. Casa La Palma presents a rare opportunity to acquire a sizable multifamily asset in a desirable East Anaheim location, offering a cap rate of over 5% on current income and approximately 7% on market rents.
Property Facts
| Price | $22,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $282,099 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.22 AC |
| Cap Rate | 5.16% | Building Size | 61,367 SF |
| Gross Rent Multiplier | 12.32 | Average Occupancy | 98% |
| No. Units | 81 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 2.18/1,000 SF |
| Price | $22,850,000 |
| Price Per Unit | $282,099 |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| Gross Rent Multiplier | 12.32 |
| No. Units | 81 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.22 AC |
| Building Size | 61,367 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 2.18/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 59 | $1,786 | 725 |
| 2+1 | 22 | $2,112 | 845 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Some public transit
40/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 268-313-01 | Improvements Assessment | $3,413,261 |
| Land Assessment | $3,249,591 | Total Assessment | $6,662,852 |
Property Taxes
Parcel Number
268-313-01
Land Assessment
$3,249,591
Improvements Assessment
$3,413,261
Total Assessment
$6,662,852
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