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705 E Santa Fe Ave 5 Unit Apartment Building $2,295,000 ($459,000/Unit) 5.33% Cap Rate Fullerton, CA 92831
INVESTMENT HIGHLIGHTS
- Desirable mix of larger 2-bed, 3-bed, and 4-bed layouts that attract families and long-term renters.
- Upgraded four-bedroom unit includes new interior finishes and its own private laundry room.
- Located within one mile of Downtown Fullerton, the Fullerton Transportation Center, and Fullerton Union High School.
- Four units fully renovated in 2025 with modern flooring, quartz counters, shaker cabinets, and stainless steel appliances.
- Property features six garage parking spaces, dual-pane windows, and updated interior improvements throughout.
- Near Fullerton Metrocenter, Orangefair Marketplace, and Fullerton Town Center for daily retail and dining needs.
EXECUTIVE SUMMARY
The Leeson Group of Marcus & Millichap is pleased to present 705 East Santa Fe Avenue, a fully renovated five-unit multifamily property in Fullerton, California. The asset combines a desirable mix of larger floor plans with extensive 2025 upgrades, offering investors a turnkey opportunity in a high-demand North Orange County market.
The community features three 2-bed/1-bath units, one 3-bed/1-bath unit, and one 4-bed/1-bath unit—layouts well-suited for families and long-term renters. The majority of units underwent a comprehensive renovation in 2025, and all units benefit from updated finishes, modern ceiling fans, and numerous contemporary improvements. The property provides six garage spaces, a competitive advantage in this submarket.
Four units received full renovations in 2025, with upgrades including new vinyl flooring throughout, tile bathroom flooring, quartz countertops, shaker-style cabinets, all-in-one washer/dryers, stainless steel appliances, tile backsplashes, modern lighting and fixtures, and refinished bathrooms with new vanities.
The renovated four-bedroom unit features new vinyl flooring, shaker-style cabinets, stainless steel appliances, and a granite countertop, along with a private laundry room created from the former community laundry area. Most windows throughout the property have been upgraded to dual-pane.
705 East Santa Fe Avenue is centrally located within one mile of several major Fullerton demand drivers, including Downtown Fullerton, the Fullerton Transportation Center, Fullerton Union High School, and Fullerton College. Residents also enjoy proximity to three major shopping centers at Harbor Boulevard and Orangethorpe Avenue (Fullerton Metrocenter, Orangefair Marketplace, and Fullerton Town Center). California State University, Fullerton lies just over 1.5 miles away, enhancing long-term renter demand.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
The community features three 2-bed/1-bath units, one 3-bed/1-bath unit, and one 4-bed/1-bath unit—layouts well-suited for families and long-term renters. The majority of units underwent a comprehensive renovation in 2025, and all units benefit from updated finishes, modern ceiling fans, and numerous contemporary improvements. The property provides six garage spaces, a competitive advantage in this submarket.
Four units received full renovations in 2025, with upgrades including new vinyl flooring throughout, tile bathroom flooring, quartz countertops, shaker-style cabinets, all-in-one washer/dryers, stainless steel appliances, tile backsplashes, modern lighting and fixtures, and refinished bathrooms with new vanities.
The renovated four-bedroom unit features new vinyl flooring, shaker-style cabinets, stainless steel appliances, and a granite countertop, along with a private laundry room created from the former community laundry area. Most windows throughout the property have been upgraded to dual-pane.
705 East Santa Fe Avenue is centrally located within one mile of several major Fullerton demand drivers, including Downtown Fullerton, the Fullerton Transportation Center, Fullerton Union High School, and Fullerton College. Residents also enjoy proximity to three major shopping centers at Harbor Boulevard and Orangethorpe Avenue (Fullerton Metrocenter, Orangefair Marketplace, and Fullerton Town Center). California State University, Fullerton lies just over 1.5 miles away, enhancing long-term renter demand.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$178,500
|
$34.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,355
|
$1.04
|
| Effective Gross Income |
$173,145
|
$33.62
|
| Taxes |
$24,989
|
$4.85
|
| Operating Expenses |
$25,885
|
$5.03
|
| Total Expenses |
$50,874
|
$9.88
|
| Net Operating Income |
$122,271
|
$23.74
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $178,500 |
| Annual Per SF | $34.66 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,355 |
| Annual Per SF | $1.04 |
| Effective Gross Income | |
|---|---|
| Annual | $173,145 |
| Annual Per SF | $33.62 |
| Taxes | |
|---|---|
| Annual | $24,989 |
| Annual Per SF | $4.85 |
| Operating Expenses | |
|---|---|
| Annual | $25,885 |
| Annual Per SF | $5.03 |
| Total Expenses | |
|---|---|
| Annual | $50,874 |
| Annual Per SF | $9.88 |
| Net Operating Income | |
|---|---|
| Annual | $122,271 |
| Annual Per SF | $23.74 |
PROPERTY FACTS
| Price | $2,295,000 | Apartment Style | Low-Rise |
| Price Per Unit | $459,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.33% | Building Size | 5,150 SF |
| Gross Rent Multiplier | 12.86 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1962/2025 |
| Property Type | Multifamily | Parking Ratio | 1.17/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | 2-MFD | ||
| Price | $2,295,000 |
| Price Per Unit | $459,000 |
| Sale Type | Investment |
| Cap Rate | 5.33% |
| Gross Rent Multiplier | 12.86 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,150 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2025 |
| Parking Ratio | 1.17/1,000 SF |
| Zoning | 2-MFD |
AMENITIES
UNIT AMENITIES
- Washer/Dryer
- Ceiling Fans
- Stainless Steel Appliances
- Dining Room
- Double Pane Windows
- Vinyl Flooring
- Quartz Countertops
SITE AMENITIES
- Courtyard
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | - | 950 |
| 3+1 | 1 | - | 950 |
| 4+1 | 1 | - | 1,350 |
1 1
Walk Score®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 033-154-08 | Total Assessment | $1,525,000 |
| Land Assessment | $1,339,354 | Annual Taxes | $24,989 ($4.85/SF) |
| Improvements Assessment | $185,646 | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
033-154-08
Land Assessment
$1,339,354
Improvements Assessment
$185,646
Total Assessment
$1,525,000
Annual Taxes
$24,989 ($4.85/SF)
Tax Year
2025 Payable 2025
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705 E Santa Fe Ave
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