7761 Garfield Ave 2 Unit Apartment Building $4,000,000 ($2,000,000/Unit) 5.51% Cap Rate Huntington Beach, CA 92648

INVESTMENT HIGHLIGHTS

  • Fully Occupied
  • Annual Escalations 2%
  • 5 year tripple net lease with 4 years remaining
  • NNN Lease
  • Corner Lot
  • Built in 2016

EXECUTIVE SUMMARY

Fully Leased - NNN Investment, Long Term 5 Year Lease with 2% annual escalations. NOI is $220,320. Fully functional licensed Behavioral Health (drug/alcohol) recovery home. 2 -SFR's on 1 large corner lot. Each home is 3,000 s.f. with a 2 Car Garage. The property was built in 2017 with this purpose in mind. Each home has 4 bedrooms and 3 bathrooms, two stories, large living area and kitchen downstairs with one bedroom. There is a common area patio between the two homes for outside enjoyment, smoking area, etc.
The property is licensed through the State of California Department of Human Services for this purpose. Each house is licensed.
The property is free and clear. great cap rate of 5.25% with 4 years remaining on a 5 year lease.
The tenant is a very strong Behavioral Health organization with various other facilities in the Behavioral Health field. They signed this strong 5 year NNN lease with no landlord responsibilities. Feel free to call us for further information. Seller is looking to make a sale and is motivated.

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

PROPERTY FACTS

Price $4,000,000
Price Per Unit $2,000,000
Sale Type Investment
Cap Rate 5.51%
Gross Rent Multiplier 18.16
No. Units 2
Property Type Multifamily
Property Subtype Apartment
Apartment Style Single-Family Home
Building Class B
Lot Size 0.22 AC
Building Size 6,008 SF
No. Stories 2
Year Built 2016
Parking Ratio 0.67/1,000 SF
Zoning RM - Residential - Medium Density

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
4+3 2 $9,180 3,004
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (84)
  • Listing ID: 34557960

  • Date on Market: 1/21/2025

  • Last Updated:

  • Address: 7761 Garfield Ave, Huntington Beach, CA 92648