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$ 9,500,000
Est. payment /mo
Active
7531 Knott AVE Buena Park, CA 90620
0.89 Acres Lot
UPDATED:
12/05/2024 02:14 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC24123564
HOA Y/N No
Year Built 1973
Lot Size 0.890 Acres
Property Description
Casa Andini is a 24-unit multifamily investment property located at 7531 Knott Avenue in Buena Park, CA. Situated on a 0.89-acre lot, Casa Andini offers 2, one-bedroom units and 22, two-bedroom units, each with a den. Residents enjoy the property’s amenities including surface, tuck-under, and carport parking, gated access, private patios or balconies, and on-site laundry. Buena Park’s strong rental metrics including a 2023 vacancy rate of just 2.2 percent and year-over-year rent growth of 4.2 percent are evidence of the substantial demand for rental units in the area. With current rents below market rates, Casa Andini represents an attractive value-add opportunity for a new owner to potentially achieve a substantial 25.8 percent increase in rental income. Casa Andini offers its residents an unparalleled Buena Park location, as the property is situated in close proximity to the city’s most popular attractions, retail centers, and major employers. Furthermore, Casa Andini is within 0.5 miles of Yamaha Corporation of America’s headquarters, a premier employer in the city as well as the site of a major redevelopment project. This excellent positioning surrounds the property with employment and housing drivers as residents are within walking distance of Buena Park’s top employers as well as a plethora of shops, restaurants, and entertainment venues. Given the property’s fantastic unit mix and attractive amenities as well as its unmatched location, Casa Andini is well suited to provide investors with strong returns over the long-term investment horizon.
Location
State CA
County Orange
Area 82 - Buena Park
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 24
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 42
Private Pool No
Building
Lot Description Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 26349110
Energy Description 10462.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Tyler Leeson • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com