23
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$29,500,000
Est. payment /mo
5 Beds
3 Baths
5.17 Acres Lot
New
140 W Orangethorpe Avenue Placentia, CA 92870
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26219542
Bedrooms 5
Lot Size 5.170 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Rare 80 unit, single story multifamily community on 5.17 contiguous acres in Placentia. The property is 96.25% occupied and offers a 5.80% current underwritten cap rate. Unit mix consists of 79 two bedroom, one bath residences and one one bedroom, one bath plus office. Every unit includes a private enclosed patio, with two parking spaces per residence, including one covered space. Community amenities include a swimming pool, playground, on site laundry, and guest parking. Approximately $834,426 has been invested in capital improvements and major repairs since 2023, including replacement of all property electrical panels, interior renovations, plumbing work, appliance and HVAC replacements, and site improvements. The offering provides a straightforward mark to market opportunity through natural turnover, potential conversion of existing rooms and structures into approximately 2 to 4 ADUs, and long term redevelopment optionality under R 3 zoning. Immediate access to SR 57 and SR 91, near Cal State Fullerton, schools, employment centers, shopping, and the Platinum Triangle. Buyer to independently verify all property, financial, ADU, zoning, and redevelopment information.
Location
State CA
County Orange
Zoning Assessor
Direction Cross Streets of East Orangethorpe Avenue & North Blue Gum Street
Interior
Fireplace No
Exterior
Pool Community/Common
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 34418102
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Michael Cavner, DRE#01274709 Marcus & Millichap RE Invest
Co-listed byTyler Leeson • Marcus & Millichap RE Invest
Co-listed byTyler Leeson • Marcus & Millichap RE Invest
NEARBY SCHOOL & BUSINESS
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