The Lanerose Drive Apartments is a six-unit apartment building located in the highly desirable City of Anaheim within the greater Orange County area. The subject property is located in a quiet residential community of predominantly single-family homes and provides easy access to freeways, retail, schools, entertainment, and employment. Built in 1970, the property offers an attractive unit mix solely comprised of two-bedroom/ two-bathroom units totaling 5,290 square feet, situated over a large 16,393 square foot lot. The subject property has gone through recent renovations of the interiors and exterior. Tenant amenities include ample on-site parking including enclosed garages, on-site laundry facility, patios, balconies, and a large private garden common area in rear of property. This offering represents a rare opportunity for an investor to achieve a 4.5% CAP Rate / 6.8% total return on a stable and well-located investment property in the solid rental market of West Anaheim, California.
Listing courtesy of Greg Bassirpou from Marcus & Millichap RE Invest
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