1516 W JunoAnaheim, CA 92802

Description

We are pleased to present 1516 W Juno Avenue, a well-maintained, single-story four-unit apartment property offered for the first time in nearly 50 years. Located in an established Anaheim neighborhood, the subject property features a desirable unit mix of (2) one-bedroom/one-bathroom units and (2) two-bedroom/one-bathroom units. The subject property also features amenities such as garage parking, private patios, and an on-site laundry that is currently unused, providing a new owner the opportunity to generate additional income through installation of washer and dryer units. Built in 1958, the single-story building totals 2,952 square feet on an 8,454-square-foot lot, and each unit is separately metered for gas and electricity. At current rents averaging $2,040 per unit, the property generates $66,697 in Net Operating Income against a list price of $1,395,000 ($348,750 per unit, $473 per square foot). In-place rents sit below the comparable set bringing units to market rents of $2,450 (2BR) and $2,150 (1BR) represents a 12.7% lift in rental income. Paired with activating the laundry room and billing RUBS, that path takes NOi to $81,364 and the cap rate on list price from 4.78% to 5.83%. Convenient access to the 1-5 freeway, Disneyland, Downtown Anaheim, the Platinum Triangle and nearby employment centers supports the property's rental appeal, with Loara High School nearby and Ball Junior High School within walking distance. With its single-story layout, stable in-place income and clear opportunities to increase value, 1516 W Juno Avenue presents an attractive investment for buyers seeking lasting value in Orange County.

Property Information

Property type

Residential Income

Sub-type

Quadruplex

Year built

1958

Stories

1

Building area

2,952 Sq Ft

Lot size

0.19 acres

Garage spaces

4

Parking spaces

4

Days on market

4

MLS^® Listing#

OC26240216

Property Features

Cooling

None

Heating

Forced Air

Fireplace

None

Pool

None

Parking

Assigned

Laundry

Electric Dryer Hookup · Gas Dryer Hookup

Lot features

Corner Lot

Community

Curbs · Street Lights · Sidewalks

Sewer

Public Sewer

Water source

Public

Parcel number

25017315

Directions

5 North exit W Ball Rd