Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 3147 West Lanerose Drive, a 6-unit multifamily investment opportunity located in West Anaheim, California.
The 5,291 square foot property consists entirely of two-bedroom floor plans measuring approximately 882 SF. Built in 1970, the property offers amenities including open parking, garage parking, and on-site laundry. 3147 West Lanerose Drive is less than two miles from Adventure City, West Anaheim Medical Center, Cypress College and Knott’s Berry Farm.
The West Anaheim submarket is among the strongest perfoming areas in metro Orange County, with an average occupancy of 97.1 percent (3Q 2018) and average effective rent increase of 3.60 percent (year-over-year since 3Q 2017), demonstrating the strong demand for rental housing. Anaheim’s central location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets.
Given the strength of the overall apartment market within the city of Anaheim, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 3147 West Lanerose Drive.
