Listing Broker: Marcus & Millichap RE Invest
Listing Agent: Michael Cavner
DRE #01954054: 01274709
mcavner@mmreis.com
Colisting Agent: Tyler Leeson
DRE #01954054: 01451551
Rare 80 unit, single story multifamily community on 5.17 contiguous acres in Placentia. The property is 96.25% occupied and offers a 5.80% current underwritten cap rate. Unit mix consists of 79 two bedroom, one bath residences and one one bedroom, one bath plus office. Every unit includes a private enclosed patio, with two parking spaces per residence, including one covered space. Community amenities include a swimming pool, playground, on site laundry, and guest parking. Approximately $834,426 has been invested in capital improvements and major repairs since 2023, including replacement of all property electrical panels, interior renovations, plumbing work, appliance and HVAC replacements, and site improvements. The offering provides a straightforward mark to market opportunity through natural turnover, potential conversion of existing rooms and structures into approximately 2 to 4 ADUs, and long term redevelopment optionality under R 3 zoning. Immediate access to SR 57 and SR 91, near Cal State Fullerton, schools, employment centers, shopping, and the Platinum Triangle. Buyer to independently verify all property, financial, ADU, zoning, and redevelopment information.
| Listing Id: | OC26219542 |
|---|---|
| Property Type: | Residential Income |
| Status: | Active |
| Lot Size Acres: | 5.17 |
| Waterfront?: | No |
| Year Built: | 1962 |
| Basement Yn: | No |
| Building Area Units: | SquareFeet |
| Common Walls: | NoCommonWalls |
| Electric Expense: | $20,394 |
| Entry Level: | 1 |
| Fuel Expense: | 7185.0 |
| Gross Scheduled Income: | $2,462,940 |
| Levels: | One |
| Listing Contract Date: | 2026-10-08 |
| Lot Features: | StreetLevel |
| Lot Size Area: | 5.17 |
| Lot Size Source: | Assessor |
| Maintenance Expense: | $80,000 |
| Net Operating Income: | $1,710,437 |
| New Taxes Expense: | $312,668 |
| Number Of Separate Electric Meters: | 80 |
| Number Of Separate Water Meters: | 1 |
| State Or Province: | CA |
| Stories: | 1 |
| Trash Expense: | $50,290 |
| Vacancy Allowance Rate: | 3.0 |
| Water Source: | Public |
| Property Sub Type Additional: | Apartment |
| Country Subdivision: | 06059 |
| Universal Parcel Id: | urn:reso:upi:2.0:US:06059:34418102 |
| List Price: | $29,500,000 |
|---|---|
| Property Sub Type: | Apartment |
| Association Fee: | $0 |
| Lot Size Square Feet: | 225,205.2 |
| City: | Placentia |
| County Or Parish: | Orange |
| Postal Code: | 92870 |
| Number Of Units Total: | 80 |
| Building Area Total: | 60354.0 |
| Common Interest: | CommunityApartment |
| Community Features: | Curbs, Gutters, StreetLights, Sidewalks, Pool |
| Directions: | Cross Streets of East Orangethorpe Avenue & North Blue Gum Street |
| Elevation Units: | Feet |
| Entry Location: | First level |
| Garage Spaces: | 0.0 |
| Gross Income: | $2,670,074 |
| Insurance Expense: | $68,000 |
| Laundry Features: | CommonArea |
| Listing Agreement: | ExclusiveRightToSell |
| Listing Terms: | Cash, CashToNewLoan, Conventional, Exchange1031 |
| Lot Size Acres: | 5.17 |
| Lot Size Units: | Acres |
| MLS Area Major: | 84 - Placentia |
| Number Of Buildings: | 20 |
| Number Of Separate Gas Meters: | 80 |
| Open Parking Spaces: | 80.0 |
| Operating Expense: | $885,749 |
| Original List Price: | $29,500,000 |
| Parcel Number: | 34418102 |
| Parking Total: | 160 |
| Pool Features: | Community |
| Postal City: | PLACENTIA |
| Professional Management Expense: | $77,886 |
| Sewer: | PublicSewer |
| Special Listing Conditions: | Standard |
| Stories Total: | 1 |
| Vacancy Allowance: | 73888 |
| Water Sewer Expense: | $86,561 |
| Year Built Source: | Assessor |
| Current Price: | $29,500,000.00 |
| Record Signature: | 1,735,217,117 |
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Based on information from California Regional Multiple Listing Service, Inc. as of October 09, 2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
California Regional Multiple Listing Service, Inc. data last updated on October 09, 2026 01:14 AM - PT
Property Last Updated: October 09, 2026 01:14 AM - PT
