Orange, Residential Income – 7581 Warner Ave, Huntington Beach, CA 92647, USA -001-11-30T00:00:00-08:00
A VALUE ADD PROPERTY WITH UPSIDE IN RENTS! Built in 1988, Huntington Beach Terrace Apartments is a Class A. Consisting of 11 very spacious two and three bedroom apartments, 10 of which have been recently renovated. Completed between 2016 and 2017, each unit
7581 Warner Ave, Huntington Beach, CA 92647, USA
$5,200,000 USD
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Address7581 Warner ave Avenue, Huntington Beach
Price$5,200,000
Year Built1988
Bedrooms Total0
Living Area13,305 ft2
Lot Size (Sq.Ft.)16,117
Listing IDOC17201601
StatusActive
Parcel Number14221223
ZoningMULTI-FAMILY
Special ConditionsStandard
Days on Market79

Detailed Description: A VALUE ADD PROPERTY WITH UPSIDE IN RENTS! Built in 1988, Huntington Beach Terrace Apartments is a Class A. Consisting of 11 very spacious two and three bedroom apartments, 10 of which have been recently renovated. Completed between 2016 and 2017, each unit now boasts new interior paint, window awnings, granite counter tops, stainless steel appliances (dishwasher / refrigerator / sink / stove top / oven / micro-wave), cabinets / hardware, kitchen fixtures, faux wood flooring, ceiling fans, electrical outlets, bathroom vanity cabinets, toilets, flooring, showers, lights, mirrored closets, interior doors, etc. Additionally, each unit enjoys a newly renovated balcony or patio, renovated on-site laundry on each of the 3 levels, private enclosed parking garage (16 total), and ample guest surface parking (8 open spots). Standard to each apartment is metered gas and electric, central air conditioning / heat, and individual water heater. Water, trash, and sewer is billed back through a RUBS program. Displaying new exterior paint, monument signage, landscaping, and full video surveillance, this multi-family investment offering is strongly positioned for a quick sale in what is considered to be a solid beach city rental market. PLEASE CALL AGENT FOR COMPLETE MARKETING PACKAGE

Cooling
Fireplace
Laundry
Parking
Pool Private
Rent Control
Senior Community
Property Attached
Land Lease
Appliances

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Address Information
Address7581 Warner ave Avenue, Huntington Beach
Street SuffixAvenue
Subdivision NameOther (OTHR)
CityHuntington Beach
Location (MLS Area)17 – Northwest Huntington Beach
County Or ParishOrange
State or ProvinceCA
Postal Code92647
CountryUS
Financial Information
Price per Square Foot$390.83
Price per Lot Square Foot$322.64
Price per Unit$472,727
Special ConditionsStandard
Total Expenses$105,285
Professional Management Expense$12,237
Operating Expense$105,285
Insurance Expense$3,204
Electric Expense$1,680
Water Sewer Expense$4,908
Trash Expense$4,284
Maintenance Expense$11,520
Other Expense$2,037
Gross Income$296,832
Gross Scheduled Income$296,832
Net Operating Income$182,642
Total Actual Rent$23,392
Vacancy Allowance$8,905
Laundry Income$6,000
Other Income 1$888
Tax Annual Amount$55,908
Tax Year2017
Tax Lot3
New Taxes Expense$55,908
Full Descriptions
Parcel Number14221223
Detailed DescriptionA VALUE ADD PROPERTY WITH UPSIDE IN RENTS! Built in 1988, Huntington Beach Terrace Apartments is a Class A. Consisting of 11 very spacious two and three bedroom apartments, 10 of which have been recently renovated. Completed between 2016 and 2017, each unit now boasts new interior paint, window awnings, granite counter tops, stainless steel appliances (dishwasher / refrigerator / sink / stove top / oven / micro-wave), cabinets / hardware, kitchen fixtures, faux wood flooring, ceiling fans, electrical outlets, bathroom vanity cabinets, toilets, flooring, showers, lights, mirrored closets, interior doors, etc. Additionally, each unit enjoys a newly renovated balcony or patio, renovated on-site laundry on each of the 3 levels, private enclosed parking garage (16 total), and ample guest surface parking (8 open spots). Standard to each apartment is metered gas and electric, central air conditioning / heat, and individual water heater. Water, trash, and sewer is billed back through a RUBS program. Displaying new exterior paint, monument signage, landscaping, and full video surveillance, this multi-family investment offering is strongly positioned for a quick sale in what is considered to be a solid beach city rental market. PLEASE CALL AGENT FOR COMPLETE MARKETING PACKAGE
Lot Features11-15 Units / Acre, Landscaped
Community FeaturesSidewalks
Interior FeaturesBalcony, Built-Ins, Ceiling Fan, Granite Counters
Room TypeKitchen, Living Room
Water SourcePublic
Construction MaterialsAsphalt, Concrete, Drywall Walls, Stucco
Roof DescriptionComposition
Security FeaturesFire and Smoke Detection System, Security Lights, Smoke Detector
UtilitiesCable Available, Natural Gas Available, Phone Available, Water Available
Laundry FeaturesArea, Community
Heating DescriptionForced Air
Cooling DescriptionCentral
Accessibility FeaturesParking
Appliances DescriptionDishwasher, Microwave, Refrigerator, Water Heater Unit
Parking FeaturesAssigned, Unassigned, Garage, Parking Space
Sewer DescriptionUnknown
Fireplace FeaturesKitchen, Living Room, Electric, Gas
Common Walls Description2
Pool FeaturesNone
Road Frontage TypeCity Street
Property parameters
Year Built1988
Living Area (Sq.Ft.)13,305 ft2
Lot Size (Sq.Ft.)16,117
Lot Size SourceAssessor
Lot Size Dimensions.37
Lot Size Dimensions SourceAssessor
Number of Buildings1
Number of Units Leased11
Number of Units Total11
ZoningMULTI-FAMILY
Stories Total3
Parking Spaces24
Garage Spaces16
Uncovered Spaces8
LevelsThree Or More
Water SourcePublic
Units Total11
Year Built SourceAssessor
Laundry EquipmentOwn
Average 2 Bedroom Area1,130 ft2
Average 3 Bedroom Area1,305 ft2
Number of Separate Electric Meters11
Number of Separate Gas Meters11
Number of Separate Water Meters1
Units with Disposal11
Cap Rate (For Cash Payment Only)3.51
Listed withBurton Young (Sperry Commercial, Inc.)