Investment highlight
- Individually Metered with In-Place RUBS Program/tenants pay for water and trash
- Large Townhouse style units
- Better than Market Rate leverage due to existing assumable loan (3 years remaining @3.10% Interest ONLY)-buyer must qualify
- New Exterior paint and New Roof
- Secured 42 parking spaces
- Achievable rent upside due to annual turnover
executive summary
Completely Turnkey Asset
19 units:
Thirteen 2-bedroom townhouse style apartments & six 3-bedroom apartments
In-Place RUBS
Located in an Opportunity Zone
All Units Have Walk-In Closets, In-Unit Washer/Dryer, Stainless-Steel Appliances
Brand new roof
Exterior painted
Decks redone
Termite work done
Gutters done
Elevator new flooring
Parking: 42 Spaces
Storage room for handyman
3 small storage rooms
Security system
Entry door system
Seismic inspections done
New asphalt in alley
Additionally Pine St offers 42 secured parking spaces for added income.
Located not far from the Platinum Triangle, which is home to some of Orange County’s most popular destinations, including Angel Stadium and The Honda Center. The property is also near The Outlets at Orange, providing residents an easy commute to numerous retail amenities. Furthermore, Pine St. apartments benefits from its close proximity to the Interstate 5 and State Route 22 Interchange, connecting residents to employment hubs throughout Orange and Los Angeles Counties.
Given the property’s fantastic location and its high-quality upgrades, Pine St. is well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
Given the overall strength of the apartment market in Orange County , 313 E. Pine St offers an investor the ability to capture quality tenants seeking an exceptional living experience within a vibrant neighborhood. The areas surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation and retail amenities. This overall demand for a well-located and renovated apartment building will be a key driver in the continued growth and success at 313 E. Pine St.
property facts
| Price | $8,350,000 | Building Class | B |
| Price Per Unit | $439,474 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 20,525 SF |
| Cap Rate | 5.18% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.54 | No. Stories | 3 |
| No. Units | 19 | Year Built/Renovated | 1987/2021 |
| Property Type | Multifamily | Parking Ratio | 2.05/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone | Yes |
| Apartment Style | Low Rise |
unit amenities
- Balcony
- Washer/Dryer Hookup
site amenities
- Controlled Access
- Courtyard
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 13 | $2,590 | 900 |
| 3+2 | 6 | $2,900 | 1,100 |
