Courtesy of: Greg Bassirpou 01365951 | Marcus & Millichap RE Invest
Purchase Type: Sale
MLS ID: OC20228047
Days On Market: 192
Year Build: 1958
Lot size: 0.147
Property Type: Residential Income
New Construction: No
Swimming Pool: No
Address: 225 W Knepp Avenue
Neighborhood: 699 - Not Defined
Pool Features: None
The Knepp Avenue Apartments is a four-unit apartment building located in the City of Fullerton, one of the strongest rental markets in Southern California. The city of Fullerton is a dynamic city in Orange County with a vibrant downtown located in Orange County, approximately 25 miles southeast of downtown Los Angeles.
The property offers an attractive unit mix comprised of all two bedroom/ one-bathroom units totaling 3,752 square feet, situated on a 6,392 square foot lot. The subject property has recently gone through an extensive remodel of the interiors and exterior. Some interior upgrades include but are not limited to new kitchens, new appliances, new flooring, new windows, new bathrooms, new garage doors, and new landscaping.
The subject property’s close proximity to Cal State Fullerton and Downtown Fullerton provides a large pool of potential student renters looking for convenient, quality housing. This offering represents a rare opportunity for an investor to acquire a 4.41% Cap Rate / 6.61% total return for a stable, renovated, “A” location investment property in the solid rental market of Fullerton, California.
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