Sr.Living/ Housing/ Conversion Opportunity 5710 E La Palma Ave 118 Unit Apartment Building $22,000,000 ($186,441/Unit) 7.95% Cap Rate Anaheim, CA 92807

THE STORY:
Currently operating as the Motel 6 and Studio 6 Anaheim Hills, the property is zoned Mixed Use Medium (Effective June 2025). The zoning will allow Permanent Housing and Senior Living, as well as other potential uses (please see the Zoning Section). The City has indicated that the Current Building cannot be used as Permanent Housing per Code but that they are willing to review the Buyers plan for the use of the building. The existing building can be used for Senior Living.
The Property comprises 118 rooms and a large common area with a pool that could be repurposed as additional living space. Included in Studio 6 are 28 suites. Situated on an approximate 2.9-acre lot, the Property has ample parking for 119 spaces.
All property showings are to be coordinated through the Listing Agent at 310-704-9109. THE MANAGER IS NOT TO BE DISTURBED OR TO BE ASKED TO SHOW ROOMS
PAST DUE DILIGENCE - 2026:
The Property was marketed as a Permanent Conversion to Permanent Living. As such, several offers have been received, largely due to the property's excellent Anaheim Hills location. After recent Buyer Due Diligence, the City has indicated that although the property's zoning was changed in July 2025 to allow Permanent Housing, the existing Motel 6/Studio 6 building cannot be used for the conversion. However, a Buyer may submit their plans to the City for review and possible approval.
Senior Living with a CUP and State License, however, can utilize the current building.
Location:
This Conversion Opportunity is located in Anaheim Hills. Anaheim Hills is a community in Orange County, Southern California, directly south of Yorba Linda. Although it is part of Anaheim, it does not border central Anaheim and is geographically separated from that part of the city, so the name Anaheim Hills is used to distinguish it from Anaheim.
The Property is located just to the West and is visible from the 91 Freeway off the Imperial Highway off-ramp. From this offramp, the Nixon Presidential Museum is just to the West in the adjacent City of Yorba Linda.