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Listed by Michael Cavner, DRE #01274709 • Marcus & Millichap RE Invest
$ 29,500,000
Est. payment /mo
Active
140 W Orangethorpe AVE Placentia, CA 92870
5 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26219542
Year Built 1962
Lot Size 5 Sqft
Source California Regional MLS
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
Area 84 - Placentia
Interior
Laundry Community Facility
Exterior
Garage Spaces 160.0
Pool Community Facility
Building
Lot Description Grade - Level
Story One Story
Water District - Public
Others
Tax ID 34418102
Special Listing Condition Not Applicable
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