721 W La Palma Ave, Anaheim, CA 92801
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721 W La Palma Ave Anaheim, CA 92801

$4,850,000
  • 24 Beds
  • 27 Baths
  • 12,092 Sq.Ft.
For Sale
$4,850,000 Get Pre-Qualified

Map preview of 721 W La Palma Ave, Anaheim, CA 92801

Property Overview: 721 W La Palma Ave Anaheim, CA has 24 bedrooms, 27 bathrooms, 12,092 living square feet and 13,068 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 721 West La Palma Avenue is a 12-unit multifamily investment property located in Anaheim, California. The property offers a highly desirable mix consisting exclusively of two-bedroom units, of which eight are townhome floorplans. Residents enjoy amenities such as private balconies, in-unit laundry, and ample parking in a gated parking garage. Additionally, current ownership has invested significant capital into interior and exterior improvements at 721 West La Palma Avenue including fresh paint, an automatic fire sprinkler system in the parking garage, and upgrades to air conditioning units, stairs, railings, and balconies. 721 West La Palma Avenue’s optimal North Orange County Location, situated between Downtown Anaheim and Downtown Fullerton, provides easy access to a plethora of unique shops, restaurants, and attractions. Additionally, the property places residents in close proximity to the regions top employers including the Anaheim Regional Medical Center, just over 0.25 miles from the property, as well as Disneyland, the Anaheim Convention Center, and California State University, Fullerton, which are all within a 3 mile radius of the property. Furthermore, the property provides residents with convenient access to State Routes 57 and 91, Interstate 5, and multiple train and transit stations, connecting residents to employment hubs throughout Southern California. Given the strength of the overall apartment market within the city of Anaheim, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of activities, transportation, and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 721 West La Palma Avenue.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 8 minutes ago | Last updated: September 11th, 2024 | Source CRMLS | DOM: 37

Home details

Lot Sq. Ft
13,068
HOA Dues
$0/mo
Year built
1989
Garage
30 Car
Property Type:
Apartment
Status
Active
MLS#
OC24166762
City
Anaheim
County
Orange
Time on Site
37 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 1
  • # of Electric Meters: 12
  • # of Gas Meters: 12
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 3
  • Garage Spaces: 12
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $12,903
  • Total Rent: $12,903
  • Pro Forma/Market Rent: $16,800
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 14
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $8,520
  • Total Rent: $8,520
  • Pro Forma/Market Rent: $9,800
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 4
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,587
  • Total Rent: $4,587
  • Pro Forma/Market Rent: $5,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.3%
  • Gross Rent Multiplier: 15.31
  • Gross Scheduled Income: $312,120
  • Net Operating Income: $208,699
  • Gross Operating Income: $302,756
  • Vacancy Allowance: $9,364
  • Other Income 1: $4,663
  • Other Income Description: Misc
Annual Expense Breakdown
  • Total Operating Expense: $98,721
  • Electric: $1,824
  • Gas/Fuel: $1,824
  • New Taxes: $53,288
  • Trash: $1,824
  • Insurance: $6,000
  • Maintenance: $8,400
  • Professional Management: $12,297
  • Water/Sewer: $1,824
  • Other Expenses: $11,440
  • Other Expense Description: Misc

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Property Details for 721 W La Palma Ave

Interior Features
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 30
  • # of Parking Spaces: 30
Lot Information
  • Lot Features: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 12
  • Parcel Number: 27109109
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Cross Streets of West La Palma Avenue & North Harbor Boulevard
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
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Sale History for 721 W La Palma Ave

Last sold on March 25th, 2013
  • August, 2024

  • Aug 12, 2024

    Date

    Active

    CRMLS: OC24166762

    $4,850,000

    Price

  • March, 2013

  • Mar 25, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • March, 2012

  • Mar 7, 2012

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 721 W La Palma Ave

Assessed Value (2020): $726,468
Year Land Value Improved Value Assessed Value
2020 $297,852 $428,616 $726,468

Home Value Compared to the Market

This property vs the competition

721 W La Palma Ave is listed 451.14% higher than the median list price for the city of Anaheim which has a median list price of $880,000. The median price per/sqft for Anaheim is $576 and this home is listed at $401.09 per/sqft which puts the price per square foot 30.37% lower than the median price per square foot for the city of Anaheim.

About 721 W La Palma Ave

Detailed summary of property

721 W La Palma Ave is a apartment located in Anaheim, CA 92801 and is currently for sale. This apartment offers 24 bedrooms, 27 bathrooms, roughly 12,092 living square feet, and sits on an approximately 13,068 square foot lot. 721 W La Palma Ave was first listed on ArdentRealEstateGroup.com on August 13, 2024. The homeowner is currently asking $4,850,000. The median priced home in Anaheim is $880,000 with a median price per square foot of $576. Based on Ardent Real Estate Group's Anaheim Market Data, this home is listed 451.14% higher than the median priced home. Local competing homes currently for sale include 411 15th St, 2350 Santa Ana Ave and 1826 Pomona Ave. While the average home in Anaheim, CA is selling in 50 days, 721 W La Palma Ave has a days on market of 37 days. There are currently 293 homes for sale in the Anaheim real estate market and 181 of them are single family homes while 83 of them are condos and 29 are townhomes. For more information on this home for sale at 721 W La Palma Ave Anaheim, CA 92801 contact Ardent Real Estate Group and we will put you in touch with one of our Anaheim agents.

Public Facts for 721 W La Palma Ave

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
14,255
Stories
--
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
11
APN
271-091-09

The source for these homes facts are from public records.

92801 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,900
Median List Price/Sq.Ft.
$525
Median Sold Price
$755,000
Median Sold Price/Sq.Ft.
$521
Total Inventory
59
Median Sale to List Price %
99.47%
Avg Days on Market
29
Loan Type
Conventional (55%), FHA (15%), VA (5%), Cash (10%), Other (15%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.