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Listed by Ryan Anderson • R L M Equities
$ 1,350,000
Est. payment /mo
Contingent
208 S Illinois Anaheim, CA 92805
7,750 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CRNP25240630
Year Built 1949
Lot Size 7,750 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
Below Market Rents = Significant Rent Growth Opportunity. Updated units in the area command substantially higher rents than current in-place leases. With selective renovations (kitchens, baths, flooring, paint, windows), rents can be increased several hundred dollars per unit per month, dramatically improving cash flow and property value. Making this property well over a 5.5% CAP on market rents. Front triplex + detached rear unit appeals to a wide range of tenants. Rear unit could command a premium (privacy, standalone structure). Potential for long-term hold, cash flow, or future redevelopment. Current rents are well below market. Immediate upside through interior renovations and bringing rents to market levels. Additional potential through exterior cosmetic improvements, utility bill-backs (RUBS), and improved management.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Laundry None
Exterior
Parking Features No Parking
Garage Spaces 6.0
Pool None
Building
Story One Story
Water District - Public
Others
Tax ID 03611223
Special Listing Condition Not Applicable , Accepting Backups
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