Buena Park, CA 90620 7531 Knott Avenue
$9,500,000
4 more
Presented By: Tyler Leeson with Marcus & Millichap RE Invest; [email protected]
Home Details
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.
Presented By: Tyler Leeson with Marcus & Millichap RE Invest; [email protected]
Interior Features for 7531 Knott Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 7531 Knott Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.17
Carport Spaces24.0
Carport Y/NYes
CityBuena Park
Community FeaturesCurbs, Gutters, Sidewalks
CountyOrange
DirectionsCross Streets of Knott Avenue & Houston Street
Electric Expense10462.0
Electric On Property Y/NNo
Entry LocationFirst level
Fuel Expense10462.0
Garage Spaces0.0
Garage Y/NNo
Gross Income664211.0
HOANo
HOA Fee$0.0
Home Warranty Y/NNo
Insurance Expense16793.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet38768.4
Lot Size UnitsAcres
MLS Area82 - Buena Park
MaintenanceExpense14400.0
MobileHomeRemainsYNNo
Net Operating Income396332.0
New ConstructionNo
NumberOfUnitsTotal24
Open Parking Spaces18.0
Operating Expense249048.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameOther
Tax Lot85
Taxes$104,693
TermsCash, CashToNewLoan, Exchange1031
Trash Expense10462.0
Water Sewer Expense10464.0
Waterfront Y/NNo
Year Built1973
Year Built SourceAssessor
Exterior for 7531 Knott Avenue
Building Area Total20784.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesStreetLevel
Lot Size Acres0.89
Lot Size Area0.89
Lot Size SourceAssessor
Number of Buildings4
Number of Separate Electric Meters24
Number of Separate Gas Meters24
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking42.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480