302-302 1/2 N Bush St
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302-302 1/2 N Bush St
8 Unit Apartment Building $2,805,768 CAD ($350,721 CAD/Unit) 4.90% Cap Rate Anaheim, CA 92805
Investment Highlights
- New Electrical Panels
- Carports
- First Time on the Market in Over 55 Years
- Projected 27% in Rental Upside; 6.8% Cap Rate on Market Rents
- Prime Anaheim Loction Near the Anaheim Packing District
Executive Summary
Morgan Skenderian, Inc., as the exclusive listing agent, presents 302 & 302 1/2 N. Bush Street, an 8-unit investment opportunity located in Anaheim, California. This property consists exclusively of one bedroom/one bathroom units. Residents enjoy amenities such as security screen doors, carports and onsite parking. This property has been professionally managed and well maintained throughout the years, and, just recently, current ownership installed all new electrical panels throughout the property. All the units are individually metered for electricity and gas, and the tenants pay their own trash. Highlighting this asset's potential, there is approximately 27% upside in rental income making this an attractive acquisition for investors seeking to capitalize on an asset with phenomenal growth potential and exceptional future cash-on-cash returns
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$201,257
|
$49.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,037
|
$1.49
|
| Effective Gross Income |
$195,220
|
$48.17
|
| Taxes |
$33,679
|
$8.31
|
| Operating Expenses |
$24,302
|
$6.00
|
| Total Expenses |
$57,981
|
$14.31
|
| Net Operating Income |
$137,239
|
$33.86
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $201,257 |
| Annual Per SF | $49.66 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,037 |
| Annual Per SF | $1.49 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $195,220 |
| Annual Per SF | $48.17 |
| Taxes (CAD) | |
|---|---|
| Annual | $33,679 |
| Annual Per SF | $8.31 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $24,302 |
| Annual Per SF | $6.00 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $57,981 |
| Annual Per SF | $14.31 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $137,239 |
| Annual Per SF | $33.86 |
Property Facts
| Price | $2,805,768 CAD | Apartment Style | Low Rise |
| Price Per Unit | $350,721 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.90% | Building Size | 4,053 SF |
| Gross Rent Multiplier | 13.92 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1956 |
| Property Type | Multifamily | Parking Ratio | 1.97/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,805,768 CAD |
| Price Per Unit | $350,721 CAD |
| Sale Type | Investment |
| Cap Rate | 4.90% |
| Gross Rent Multiplier | 13.92 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,053 SF |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.97/1,000 SF |
Unit Amenities
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $2,178 CAD | - |
1 of 1
Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 035-223-01 | Total Assessment | $177,649 CAD (2023) |
| Land Assessment | $58,029 CAD (2023) | Annual Taxes | $33,679 CAD ($8.31 CAD/SF) |
| Improvements Assessment | $119,620 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
035-223-01
Land Assessment
$58,029 CAD (2023)
Improvements Assessment
$119,620 CAD (2023)
Total Assessment
$177,649 CAD (2023)
Annual Taxes
$33,679 CAD ($8.31 CAD/SF)
Tax Year
2024
-
Paul Espinosa -
Rick Applebaum -
Morgan-Skenderian Investment Real Estate Group
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302-302 1/2 N Bush St
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