721 West La Palma Avenue

Anaheim, CA 92801

$4,795,000
Price
6
Beds
30
Baths
12,092 Sq. Ft.
$397 / Sq. Ft.
12,092
Sq. Ft.
$397
per Sq. Ft.

Description

721 West La Palma Avenue is a 12-unit multifamily investment property located in Anaheim, California. The property offers a highly desirable mix consisting exclusively of two-bedroom units, of which eight are townhome floorplans. Residents enjoy amenities such as private balconies, in-unit laundry, and ample parking in a gated parking garage. Additionally, current ownership has invested significant capital into interior and exterior improvements at 721 West La Palma Avenue including fresh paint,...721 West La Palma Avenue is a 12-unit multifamily investment property located in Anaheim, California. The property offers a highly desirable mix consisting exclusively of two-bedroom units, of which eight are townhome floorplans. Residents enjoy amenities such as private balconies, in-unit laundry, and ample parking in a gated parking garage. Additionally, current ownership has invested significant capital into interior and exterior improvements at 721 West La Palma Avenue including fresh paint, an automatic fire sprinkler system in the parking garage, and upgrades to air conditioning units, stairs, railings, and balconies. 721 West La Palma Avenue’s optimal North Orange County Location, situated between Downtown Anaheim and Downtown Fullerton, provides easy access to a plethora of unique shops, restaurants, and attractions. Additionally, the property places residents in close proximity to the regions top employers including the Anaheim Regional Medical Center, just over 0.25 miles from the property, as well as Disneyland, the Anaheim Convention Center, and California State University, Fullerton, which are all within a 3 mile radius of the property. Furthermore, the property provides residents with convenient access to State Routes 57 and 91, Interstate 5, and multiple train and transit stations, connecting residents to employment hubs throughout Southern California. Given the strength of the overall apartment market within the city of Anaheim, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of activities, transportation, and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 721 West La Palma Avenue.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com

Property Details for 721 West La Palma Avenue

Parking Spaces Total
30
Private Pool
No
Total Units
12.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
12092
Assessor Parcel Number
271-091-09
Property Attached YN
true
LISTING UPDATED: 10/25/2024 07:15 AM

Property Details for 721 West La Palma Avenue

StatusActive
MLS #OC24166762
Days on Market131
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1989
CountyOrange County

Building Information for 721 West La Palma Avenue

Building/Complex721 W La Palma AveFloor-Stories2Residences-Pet Policy-Year Built1989Building Size-

Property Information for 721 West La Palma Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $320,179
  • Gross Scheduled Income: $315,516
  • Vacancy Allowance: 9465
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $306,051
  • Net Operating Income: $212,335
  • Other Income Description: Misc
  • Other Income 1: $4,663
  • Gross Multiplier: 14.98
  • Cap Rate: 4.43
Expense Details
  • Operating Expense: $98,379
  • Operating Expense Percent: 31.70%
  • New Taxes Expense: $52,704
  • Fuel Expense: $1,824
  • Electric Expense: $1,824
  • Insurance Expense: $6,000
  • Maintenance Expense: $8,400
  • Professional Management Expense: $12,429
  • Other Expense: $11,440
  • Other Expense Description: Misc
  • Trash Expense: $1,824
  • Water Sewer Expense: $1,824
  • Total Expenses: $98,379
Tax / Assessment Info
  • Tax Tract Number: 486
  • Tax Census Tract: 866.01
  • CFD/Mello-Roos Fee: $3,040
  • Tax Lot: 11
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
Exterior Features
  • Entry Location: First level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 30
  • Parking Garage Spaces: 30
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 14
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $8,803
  • Unit Type Total Rent: $8,803
  • Unit Type Pro Forma: 9800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 4
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,587
  • Unit Type Total Rent: $4,587
  • Unit Type Pro Forma: 5200
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 12
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $12,903
  • Unit Type Total Rent: $12,903
  • Unit Type Pro Forma: 16800
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1

Property History for 721 West La Palma Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 721 West La Palma Avenue

Taxable ValueLand$325,744Additions$488,600Total$814,344
Tax Record2024$12,101 ($1,008 / month)
Home Facts
Total Finished SqFt12,092 SqFtAbove Grade Finished SqFt12,092 SqFtLot Size13,280 SqFtStyleMulti-Family Dwelling (2-4)Year Built1989CountyORANGEAPN271-091-09

Schools near 721 West La Palma Avenue

This home is within Anaheim Union High School District.
Rating
School
Type
Grades
Distance
Mann (Horace) Elementary School
Public - K to 6
Sycamore Junior High School
Public - 7 to 8
Anaheim High School
Public - 9 to 12
Vibrant Minds Charter
Charter - K to 6
Rating
School
Distance
Mann (Horace) Elementary School
PublicK to 6

Sycamore Junior High School
Public7 to 8

Anaheim High School
Public9 to 12

Vibrant Minds Charter
CharterK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 721 West La Palma Avenue, Anaheim, CA 92801

721 West La Palma Avenue is a multi-family home for sale in Anaheim, CA 92801. This property was listed for sale on August 12, 2024 by Marcus & Millichap RE Invest, it's currently listed at $4,795,000. This listing's school districts are Anaheim Union High School District, Anaheim Elementary School District. Nearby schools include Mann (Horace) Elementary School, Sycamore Junior High School and Anaheim High School. 721 West La Palma Avenue is a 6-bed, 30-bath, 12,092 sqft multi-family home built in 1989.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.