Last viewed 6 days ago

2553 E. Terrace St. Anaheim

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Last viewed 6 days ago

2553 E. Terrace St. Anaheim

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Description

Rare HUGE approx. 5,458 square foot 4 plex consisting of one 3 bedroom 2 bath owners style unit with fireplace, large patio and enclosed garage. One two bedroom 2 bath with balcony and two 2 bedroom 1.5 bath townhouse style units with enclosed patios. All units have enclosed garages—some with direct access to unit. All units have either fully enclosed patio or balcony. Very well maintained. All new vinyl dual pane windows. Extra monthly income of $100-200 could be achieved by utilizing currently unused laundry room. Easy to manage—one tenant takes care of all minor maintenance issues. Room to increase rents for new owner. Market rents are $2,000-2,050 for 2 bedroom units. Cap rate of 4.97% on current rents and 5.89% on realistic market rents.

PROPERTY HIGHLIGHTS

  • Great visibility
  • 5 Enclosed Garages
  • Room to Increase Rents
  • All New Vinyl Dual Pane Windows
  • Cap Rate of 4.97% on Current Rents
  • Excellent Location and Rental Area
  • Easy Access to 91 and 57 Freeways
  • Year Built: 1969
  • Lot Size: 7,841 Sq. Ft.
  • Building Sq. Ft: 5,458 Sq. Ft.
  • Close To Great Shopping, Restaurants And Parks

PROPERTY SUMMARY

  • Asking Price: $1,315,000
  • Year Built: 1969
  • Lot Size: 7,841 Sq. Ft.
  • Building Sq. Ft:  5,458 Sq. Ft.

LOCATION HIGHLIGHTS

  • Excellent location allowing easy access to 91 and 57 freeways.
  • Close to great shopping, restaurants and parks.
  • Excellent rental area.
Unit # Unit Type Current Rent Proforma Rent
1 3 Bed 2 Ba $2,500 $2,500
2 2 Bed 2 Ba $1,700 $2,050
3 2 Bed 1.5 Ba $1,700 $2,000
4 2 Bed 1.5 Ba $1,640 $2,000

 

LIVING IN ANAHEIM

Anaheim is a large city located in the state of California. With a population of 350,365 people and 59 constituent neighborhoods, Anaheim is the tenth largest community in California.Housing costs in Anaheim are among some of the highest in the nation, although real estate prices here don’t compare to real estate prices in the most expensive communities in California.Anaheim is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Anaheim is a city of sales and office workers, service providers, and professionals. There are especially a lot of people living in Anaheim who work in office and administrative support (12.57%), sales jobs (10.89%), and management occupations (8.37%).Also of interest is that Anaheim has more people living here who work in computers and math than 95% of the places in the US.Anaheim is one of the most attractive larger cities for people who are young, single, educated, and upwardly-mobile career starters. This makes it a good place to live for young singles in their 20s and 30s and who have undergraduate or graduate degrees and are starting their professional careers. Although Anaheim is a large city, this demographic is significant enough that young professionals will find many others like themselves here, with really good opportunities for friendships, recreation, romance, and more.Anaheim is one of the most car-oriented large cities in America. A full 80.07% of people drive their car alone to work each day. If you like to drive, you’ll love it. And you better. Because walking to work is just not a viable option for most people who live in Anaheim. Highways, wide streets, parking lots, and shopping centers are part of the common Anaheim landscape.In terms of college education, Anaheim is somewhat better educated than the 21.84% who have a 4-year degree or higher in the typical US community: 25.49% of adults 25 and older in the city have at least a bachelor’s degree.The per capita income in Anaheim in 2018 was $27,501, which is middle income relative to California and the nation. This equates to an annual income of $110,004 for a family of four. However, Anaheim contains both very wealthy and poor people as well.

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PROPERTY IS IN ESCROW

Auction Finished
  • Auction Started:
    February 12, 2021 4:10 PM
  • Auction Ended:
    March 18, 2021 12:11 PM
  • Total Bidders:
    0
  • Start Price:
  • End Price:
    US $1,315,000
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