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3900 E Riverdale Ave Anaheim, CA 92807
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Key Details
Sold Price $1,274,200
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 3,413 sqft
Price per Sqft $373
MLS Listing ID 23-245480
Sold Date 04/07/23
Bedrooms 6
Construction Status Updated/Remodeled
Year Built 1964
Lot Size 10,019 Sqft
Acres 0.23
Property Description
We are proud to exclusively present for sale this 4-unit multifamily property located at 3900 E Riverdale Ave, Anaheim. It is a two-story, four-unit apartment building bordering the desirable areas of Anaheim Hills and Orange. The building totals 3,414 square feet and is situated on 9,880 square foot lot. Originally built in 1964, this multifamily asset has ideal unit mix of two 2-bedroom/1.5-bathroom units and two 1-bedroom/1-bathroom units. Three of the units have upgraded wood laminate flooring and kitchen. The building includes five covered parking spots, a laundry room with landlord-owned machines, and a large storage room. Each unit is separately metered for gas and electricity. The property also has attractive curb appeal with a freshly painted exterior. While the current ownership has diligently maintained the property, the current ownership has not been aggressive in increasing rents. With current rents at least 20% below market, a new owner is presented with the opportunity to realize upside potential on the investment returns by increasing rents to meet the market. There are no local rent control restrictions for city of Anaheim (subject to AB 1482). 3900 E. Riverdale Ave. is within close proximity to Disneyland, Cal State Fullerton, Chapman University, Angel Stadium, Walmart, Kaiser Permanente Anaheim, and many more. Tenants also have easy access to the 91/55 freeways and Metro stations. The property offers an investor the rare opportunity to own an apartment property with real upside potential and to hedge against high inflation in the desirable city of Anaheim.
Location
State CA
County Orange
Area Anaheim Hills
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall Unit(s)
Equipment Ceiling Fan, Range/Oven
Laundry Laundry Area
Exterior
Parking Features Assigned, Covered Parking
Garage Spaces 5.0
Building
Story 2
Water District
Level or Stories Two, One
Construction Status Updated/Remodeled
Others
Special Listing Condition Standard
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Bought with Skyline Commercial Real Estate