$6,750,000 Price Analysis    ♡   Brea, CA 92821 21 bed 26 bath 12,246 SqFt ($551/SqFt) 0.49 acre lot. Built 1980 Listed 2024-05-13, Taxes $55,811 | Ⓧ USDA Ineligible due to price & location near Brea |
111 South Flower Avenue is an 18-unit multifamily investment property located in Brea
* Has Contingent Offer *California. The property offers a diverse mix consisting of 5, studio units, 6, one-bedroom units, 6, two-bedroom units and 1, three-bedroom unit. Residents enjoy the propertys amenities including ample garage and surface parking, an on-site laundry facility and private patios (first-floor units). Current ownership has invested significant capital into unit and property improvements and has stabilized the asset with in-place rents near market rental rates. Improvements include fresh paint, vinyl flooring, quartz countertops, shaker-style cabinetry, recessed lighting and more.
111 South Flower Street is situated in an optimal Brea location, within walking distance of a plethora of retail, dining and entertainment options at Brea Downtown, Brea Gateway, Brea Marketplace and the Brea Mall. Furthermore, 111 South Flower Street benefits from its proximity, within 2.50 miles, to California State University Fullerton (CSUF), a major economic and housing driver for the area. Th property offers convenient access to Imperial Highway and State Route 57, connecting residents to regional employment hubs throughout Southern California. Given its optimal Brea location, the property offers an nvestor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued success at 111 South Flower Street.
Presented by Tyler Leeson at
Marcus & Millichap Re Invest.
Property MLS #OC24096565 from CRMLS
Lot Size Acres: 0.49
Lot Size Source: Assessor
Lot Size Square Feet: 21344
Parking Total: 31
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 2
Bedrooms in Unit-4: 3
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 2
Total Bathrooms in Unit-4: 3
Unit-1 Garage Spaces: 4
Unit-2 Garage Spaces: 4
Unit-3 Garage Spaces: 4
Unit-4 Garage Spaces: 4
Maintenance Expense: 11700.00
County: Orange
Cap Rate: 4.50
Other Expense: 31513.00
Source Property Type: Residential Income
Insurance Expense: 12600.00
Area: 86 - Brea
Source Neighborhood: Other (OTHR)
New Taxes Expense: 73415.00
Number of Separate Electric Meters: 18
Number of Separate Gas Meters: 18
Number of Separate Water Meters: 1
Parcel Number: 31928324
Postal Code Plus 4: 4966
Professional Management Expense: 21451.00
Subdivision: Other (OTHR)
Trash Expense: 5520.00
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $765,000 + $3,927,000 $4,692,000 | $55,811 |
| 2021 | $1,002,697 + $687,063 $1,689,760 | $22,495 |
| 2020 | $992,416 + $680,018 $1,672,434 | $22,328 |
| 2019 | $972,957 + $666,685 $1,639,642 | $21,803 |
| 2018 | $953,880 + $653,613 $1,607,493 | $21,486 |
| 2017 | $935,177 + $640,797 $1,575,974 | $21,100 |
| 2016 | $916,841 + $628,232 $1,545,073 | $20,704 |
| 2015 | $903,070 + $618,795 $1,521,865 | $20,413 |
| 2014 | $885,381 + $606,673 $1,492,054 | $19,849 |
| 2013 | $881,380 + $603,931 $1,485,311 | $19,678 |
| 2012 | $864,099 + $592,089 $1,456,188 | $19,217 |
| 2011 | $847,156 + $580,480 $1,427,636 | $18,583 |
| 2010 | $840,825 + $576,142 $1,416,967 | $18,220 |
| 2009 | $842,823 + $577,511 $1,420,334 | $17,974 |
| 2008 | $826,298 + $566,187 $1,392,485 | $17,421 |
| 2007 | $810,097 + $555,085 $1,365,182 | $16,912 |
$6,750,000
CRMLS
Sold 2021-04-26
$4,600,000
Public Record
Year Built: 1980
Building Features: 1
Common Walls: No Common Walls
Entry Level: 1
Entry Location: First level
Property Age: 44
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 5520.00
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.