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.
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
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$9.99
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Other Income |
-
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-
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Vacancy Loss |
-
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-
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Effective Gross Income |
$99,999
![]() |
$9.99
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Taxes |
$99,999
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$9.99
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Operating Expenses |
$99,999
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$9.99
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Total Expenses |
$99,999
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$9.99
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Net Operating Income |
$99,999
![]() |
$9.99
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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 |
1 of 1
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (84)