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7531 Knott Ave #12B, Buena Park, CA 90620
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7531 Knott Ave #12B Buena Park, CA 90620

$9,500,000
  • 46 Beds
  • 35 Baths
  • 20,784 Sq.Ft.
For Sale
$9,500,000 Get Pre-Qualified
Map preview of 7531 Knott Ave #12B, Buena Park, CA 90620

Property Overview: 7531 Knott Ave #12B Buena Park, CA has 46 bedrooms, 35 bathrooms, 20,784 living square feet and 38,768 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: 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.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 5 minutes ago | Last updated: September 3rd, 2024 | Source CRMLS | DOM: 91

Home details

Lot Sq. Ft
38,768
HOA Dues
$0/mo
Year built
1973
Garage
--
Property Type:
Apartment
Status
Active
MLS#
OC24123564
City
Buena Park
County
Orange
Time on Site
92 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 24
  • Total # of Buildings: 4
  • # of Electric Meters: 24
  • # of Gas Meters: 24
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 22
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $48,061
  • Total Rent: $48,061
  • Pro Forma/Market Rent: $61,490
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,245
  • Total Rent: $4,245
  • Pro Forma/Market Rent: $4,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.17%
  • Gross Rent Multiplier: 14.3
  • Gross Scheduled Income: $627,674
  • Net Operating Income: $396,332
  • Gross Operating Income: $608,843
  • Vacancy Allowance: $18,830
  • Other Income 1: $36,537
  • Other Income Description: Misc
Annual Expense Breakdown
  • Total Operating Expense: $249,048
  • Electric: $10,462
  • Gas/Fuel: $10,462
  • New Taxes: $104,693
  • Trash: $10,462
  • Insurance: $16,793
  • Maintenance: $14,400
  • Professional Management: $22,588
  • Water/Sewer: $10,464
  • Other Expenses: $48,724
  • Other Expense Description: Misc

Open Houses for 7531 Knott Ave #12B

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Property Details for 7531 Knott Ave #12B

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 42
Lot Information
  • Lot Features: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 24
  • Parcel Number: 26349110
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not 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
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: Other
  • Directions: Cross Streets of Knott Avenue & Houston Street
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Buena Park Agent

Sale History for 7531 Knott Ave #12B

Last sold for $7,350,000 on May 8th, 2020

  • June, 2024

  • Jun 17, 2024

    Date

    Active

    CRMLS: OC24123564

    $9,500,000

    Price

  • June, 2023

  • Jun 8, 2023

    Date

    Expired

    CRMLS: OC22209343

    $10,250,000

    Price

  • Sep 26, 2022

    Date

    Active

    CRMLS: OC22209343

    $10,250,000

    Price

  • Listing provided courtesy of CRMLS

    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, 1 bed / 1 bath units and 22, 2 bed / 1.5 bath 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 2021 vacancy rate of just 0.6 percent and year-over-year rent growth of 9.2 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 34.8 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.

  • May, 2020

  • May 8, 2020

    Date

    Sold

    CRMLS: OC20021684

    $7,350,000

    Price

  • Feb 25, 2020

    Date

    Pending

    CRMLS: OC20021684

    $7,500,000

    Price

  • Feb 7, 2020

    Date

    Active Under Contract

    CRMLS: OC20021684

    $7,500,000

    Price

  • Jan 30, 2020

    Date

    Active

    CRMLS: OC20021684

    $7,500,000

    Price

  • Listing provided courtesy of CRMLS

    Casa Andini is a 24-unit multifamily investment property located in Buena Park, one of the strongest rental markets in Southern California. Situated on a 0.89-acre lot, the 20,784 square foot property consists of one- and two-bedroom floor plans, each with a den, and offers amenities including security doors, patios, balconies, fireplaces, carport and open parking, and on-site laundry.

  • August, 2005

  • Aug 9, 2005

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 7531 Knott Ave #12B

Assessed Value (2020): $3,408,189
Year Land Value Improved Value Assessed Value
2020 $2,113,077 $1,295,112 $3,408,189

Home Value Compared to the Market

This property vs the competition

7531 Knott Ave #12B is listed 921.62% higher than the median list price for the city of Buena Park which has a median list price of $929,900. The median price per/sqft for Buena Park is $605 and this home is listed at $457.08 per/sqft which puts the price per square foot 24.45% lower than the median price per square foot for the city of Buena Park.

About 7531 Knott Ave #12B

Detailed summary of property

7531 Knott Ave #12B is a apartment located in Buena Park, CA 90620 and is currently for sale. This apartment offers 46 bedrooms, 35 bathrooms, roughly 20,784 living square feet, and sits on an approximately 38,768 square foot lot. 7531 Knott Ave #12B was first listed on ArdentRealEstateGroup.com on June 17, 2024. The homeowner is currently asking $9,500,000. The median priced home in Buena Park is $929,900 with a median price per square foot of $605. Based on Ardent Real Estate Group's Buena Park Market Data, this home is listed 921.62% higher than the median priced home. Local competing homes currently for sale include 4085 W 7th St, 3524 Chesapeake Ave and 5026 Rosewood Ave. While the average home in Buena Park, CA is selling in 65 days, 7531 Knott Ave #12B has a days on market of 91 days. There are currently 97 homes for sale in the Buena Park real estate market and 81 of them are single family homes while 7 of them are condos and 9 are townhomes. For more information on this home for sale at 7531 Knott Ave #12B Buena Park, CA 90620 contact Ardent Real Estate Group and we will put you in touch with one of our Buena Park agents.

Public Facts for 7531 Knott Ave #12B

Public county record property details
Beds
--
Baths
--
Year built
1973
Sq. Ft.
22,999
Lot Size
38,951
Stories
--
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
86,85
APN
263-491-10

The source for these homes facts are from public records.

90620 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$925,000
Median List Price/Sq.Ft.
$643
Median Sold Price
$895,000
Median Sold Price/Sq.Ft.
$578
Total Inventory
56
Median Sale to List Price %
102.29%
Avg Days on Market
13
Loan Type
Conventional (66.67%), FHA (4.17%), VA (0%), Cash (16.67%), Other (8.33%)

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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.

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