Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire French Quarter Apartments, a 16-unit multifamily investment opportunity located in West Anaheim, California.
The 19,222 square foot property consists of two, one-bedroom units and fourteen, two-bedroom units. Built in 1968, the property offers amenities including private yards (select units), on-site laundry, carport parking, yards, and gated access. 10 of the units are townhomes with direct carport access. French Quarter Apartments is within walking distance to Magnolia High School and less than three miles from Disneyland, Knott’s Berry Farm, and West Anaheim Medical Center.
The West Anaheim submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 97.1 percent (3Q 2018) and average effective rent increase of 3.60 percent (year-over-year since 3Q 2017), demonstrating the strong demand for rental housing. Anaheim’s central location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets.
Given the strength of the overall apartment market within the city of Anaheim, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at French Quarter Apartments.
