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646 S Grand St 8 Unit Apartment Building $2,895,000 ($361,875/Unit) 4.05% Cap Rate Orange, CA 92866
Executive Summary
The eight units are spread across three buildings on one lot, with two separate garage areas that house eight cars and six uncovered striped parking spots. There is a community laundry room with an electric coin-op washer/dryer. All the units have a similar layout, with a living area and an attached kitchenette on the ground level, and a bedroom with an attached full bathroom upstairs. South Grand St is a walking pathway between Hart Park and the Old Towne Orange Plaza.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$168,288
|
$35.06
|
| Other Income |
$1,800
|
$0.38
|
| Vacancy Loss |
$5,048
|
$1.05
|
| Effective Gross Income |
$165,040
|
$34.38
|
| Taxes |
$31,845
|
$6.63
|
| Operating Expenses |
$16,026
|
$3.34
|
| Total Expenses |
$47,871
|
$9.97
|
| Net Operating Income |
$117,169
|
$24.41
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $168,288 |
| Annual Per SF | $35.06 |
| Other Income | |
|---|---|
| Annual | $1,800 |
| Annual Per SF | $0.38 |
| Vacancy Loss | |
|---|---|
| Annual | $5,048 |
| Annual Per SF | $1.05 |
| Effective Gross Income | |
|---|---|
| Annual | $165,040 |
| Annual Per SF | $34.38 |
| Taxes | |
|---|---|
| Annual | $31,845 |
| Annual Per SF | $6.63 |
| Operating Expenses | |
|---|---|
| Annual | $16,026 |
| Annual Per SF | $3.34 |
| Total Expenses | |
|---|---|
| Annual | $47,871 |
| Annual Per SF | $9.97 |
| Net Operating Income | |
|---|---|
| Annual | $117,169 |
| Annual Per SF | $24.41 |
Property Facts
| Price | $2,895,000 | Apartment Style | Townhome |
| Price Per Unit | $361,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 4.05% | Building Size | 4,800 SF |
| Gross Rent Multiplier | 17.2 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.92/1,000 SF |
| Zoning | R-2-6 - (Duplex Residential)A residential district that provides opportunities for duplex development on lots containing a minimum area of 6,000 Sqft. | ||
| Price | $2,895,000 |
| Price Per Unit | $361,875 |
| Sale Type | Investment |
| Cap Rate | 4.05% |
| Gross Rent Multiplier | 17.2 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.92/1,000 SF |
| Zoning | R-2-6 - (Duplex Residential)A residential district that provides opportunities for duplex development on lots containing a minimum area of 6,000 Sqft. |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $2,173 | 600 - 660 |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 390-111-04 | Total Assessment | $2,350,000 |
| Land Assessment | $2,000,000 | Annual Taxes | $31,845 ($6.63/SF) |
| Improvements Assessment | $350,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
390-111-04
Land Assessment
$2,000,000
Improvements Assessment
$350,000
Total Assessment
$2,350,000
Annual Taxes
$31,845 ($6.63/SF)
Tax Year
2025
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Contact the Sale Advisor
646 S Grand St