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French Quarter Apartments 927 S Webster Ave 16 Unit Apartment Building $7,450,000 ($465,625/Unit) 4.78% Cap Rate Anaheim, CA 92804
INVESTMENT HIGHLIGHTS
- Rare Anaheim Offering: Boutique 16-unit community in a supply-constrained market with strong rental demand and low vacancy rates
- Attractive Amenity Package: Gated entry, on-site laundry, ample carport parking w/direct access for townhome units, & spacious patios (select units)
- Highly Desirable Unit Mix: Predominantly two-bedroom townhomes with large layouts and functional floor plans that cater to families and working profes
- Optimal Anaheim Location: Situated near major employers and entertainment destinations including Knott’s Berry Farm, Buena Park Downtown, & Disneyland
EXECUTIVE SUMMARY
The Leeson Group of Marcus & Millichap is pleased to present the exclusive opportunity to acquire French Quarter Apartments, a 16-unit multifamily investment property located at 927 South Webster Avenue in Anaheim, California.
Constructed in 1968, the property offers a total of approximately 19,214 rentable square feet situated on a 0.87-acre lot. The unit mix consists of two, one-bedroom units and fourteen, two-bedroom units, with an average unit size of approximately 1,200 square feet. Several floor plans are offered across the property, including both single-story flats and two-story townhome-style units, providing flexibility and appeal to a wide range of tenants. Amenities at the property include gated access, on-site laundry facilities, and carport parking, with direct access available for the townhome units. Select units also feature private patios.
French Quarter Apartments is located on South Webster Avenue, a desirable residential corridor for both renters and operators due to its quiet atmosphere and proximity to daily conveniences. The property benefits from its West Anaheim location, placing it within walking distance of elementary, middle, and high schools, making it especially attractive for families. In addition, residents enjoy easy access to local retail centers, public parks, and major regional destinations such as Knott’s Berry Farm, Buena Park Downtown, and Disneyland.
This offering presents an investor with the opportunity to acquire a well-situated property in a densely populated rental market with strong surrounding fundamentals.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Constructed in 1968, the property offers a total of approximately 19,214 rentable square feet situated on a 0.87-acre lot. The unit mix consists of two, one-bedroom units and fourteen, two-bedroom units, with an average unit size of approximately 1,200 square feet. Several floor plans are offered across the property, including both single-story flats and two-story townhome-style units, providing flexibility and appeal to a wide range of tenants. Amenities at the property include gated access, on-site laundry facilities, and carport parking, with direct access available for the townhome units. Select units also feature private patios.
French Quarter Apartments is located on South Webster Avenue, a desirable residential corridor for both renters and operators due to its quiet atmosphere and proximity to daily conveniences. The property benefits from its West Anaheim location, placing it within walking distance of elementary, middle, and high schools, making it especially attractive for families. In addition, residents enjoy easy access to local retail centers, public parks, and major regional destinations such as Knott’s Berry Farm, Buena Park Downtown, and Disneyland.
This offering presents an investor with the opportunity to acquire a well-situated property in a densely populated rental market with strong surrounding fundamentals.
*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 |
$540,324
|
$28.12
|
| Other Income |
$14,753
|
$0.77
|
| Vacancy Loss |
$16,210
|
$0.84
|
| Effective Gross Income |
$538,867
|
$28.05
|
| Taxes |
$80,549
|
$4.19
|
| Operating Expenses |
$102,154
|
$5.32
|
| Total Expenses |
$182,703
|
$9.51
|
| Net Operating Income |
$356,164
|
$18.54
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $540,324 |
| Annual Per SF | $28.12 |
| Other Income | |
|---|---|
| Annual | $14,753 |
| Annual Per SF | $0.77 |
| Vacancy Loss | |
|---|---|
| Annual | $16,210 |
| Annual Per SF | $0.84 |
| Effective Gross Income | |
|---|---|
| Annual | $538,867 |
| Annual Per SF | $28.05 |
| Taxes | |
|---|---|
| Annual | $80,549 |
| Annual Per SF | $4.19 |
| Operating Expenses | |
|---|---|
| Annual | $102,154 |
| Annual Per SF | $5.32 |
| Total Expenses | |
|---|---|
| Annual | $182,703 |
| Annual Per SF | $9.51 |
| Net Operating Income | |
|---|---|
| Annual | $356,164 |
| Annual Per SF | $18.54 |
PROPERTY FACTS
| Price | $7,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $465,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.87 AC |
| Cap Rate | 4.78% | Building Size | 19,214 SF |
| Gross Rent Multiplier | 13.42 | No. Stories | 2 |
| No. Units | 16 | Year Built/Renovated | 1968/2019 |
| Property Type | Multifamily | Parking Ratio | 1.04/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 | ||
| Price | $7,450,000 |
| Price Per Unit | $465,625 |
| Sale Type | Investment |
| Cap Rate | 4.78% |
| Gross Rent Multiplier | 13.42 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.87 AC |
| Building Size | 19,214 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2019 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Patio
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | 786 |
| 2+1.5 | 6 | - | 1,100 - 1,250 |
| 2+2 | 8 | - | 1,250 - 1,400 |
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Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 127-302-08 | Total Assessment | $6,179,099 |
| Land Assessment | $5,216,694 | Annual Taxes | $80,549 ($4.19/SF) |
| Improvements Assessment | $962,405 | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
127-302-08
Land Assessment
$5,216,694
Improvements Assessment
$962,405
Total Assessment
$6,179,099
Annual Taxes
$80,549 ($4.19/SF)
Tax Year
2025 Payable 2025
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French Quarter Apartments | 927 S Webster Ave
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