Listing ID: OC22084421
Price: $3,495,000
Status: CONTINGENT
Address: 2066 S Spinnaker Street
City: Anaheim
State: California
Postal Code: 92802
SqFt: 14,900
Acres: 0.342
County: Orange
Anaheim
CA
92802
2066 & 2072 Spinnaker Street represent a well maintained and managed asset centrally located opportunity in Anaheim. This property comes to market for the first time in 54 years and has experienced the same family ownership since 1968. These 12 units are conveniently located minutes from Downtown Disney, the Disney Resort and the entertainment centers of the Platinum Triangle are less than and 5 minute drive from the subject property. The Spinnaker Apartment Homes offer spacious 1-bed, 1-ba units averaging a sizable 738 Sq. Ft. Many interiors have been renovated and the last remodel was re-rented quickly at $1775/mo. Recent remodels include shaker-style cabinets, quartz countertops, stainless steel sinks, base and door moldings, panel doors and hardware, plank flooring, ceiling fans, plug & electrical switches, plumbing fixtures, and two tone paint. Unit interiors feature a very large walk-in closet in the bedroom, storage /linen cabinets in the bathroom and very spacious interiors. Exterior improvements include newer garage doors with GDO's, roofs replaced in 2018-2020 with 20-year warranties new H2o heaters in 2019 & 2021, and all new exterior lighting fixtures. Each unit features gas heat and wall AC. The 2066 & 2072 Spinnaker properties are separately deeded and must sell and close concurrently. The Spinnaker Apartment Homes represent clean, classic workforce housing which is always in high demand.2066 & 2072 Spinnaker Street represent a well maintained and managed asset centrally located opportunity in Anaheim. This property comes to market for the first time in 54 years and has experienced the same family ownership since 1968. These 12 units are conveniently located minutes from Downtown Disney, the Disney Resort and the entertainment centers of the Platinum Triangle are less than and 5 minute drive from the subject property. The Spinnaker Apartment Homes offer spacious 1-bed, 1-ba units averaging a sizable 738 Sq. Ft. Many interiors have been renovated and the last remodel was re-rented quickly at $1775/mo. Recent remodels include shaker-style cabinets, quartz countertops, stainless steel sinks, base and door moldings, panel doors and hardware, plank flooring, ceiling fans, plug & electrical switches, plumbing fixtures, and two tone paint. Unit interiors feature a very large walk-in closet in the bedroom, storage /linen cabinets in the bathroom and very spacious interiors. Exterior improvements include newer garage doors with GDO's, roofs replaced in 2018-2020 with 20-year warranties new H2o heaters in 2019 & 2021, and all new exterior lighting fixtures. Each unit features gas heat and wall AC. The 2066 & 2072 Spinnaker properties are separately deeded and must sell and close concurrently. The Spinnaker Apartment Homes represent clean, classic workforce housing which is always in high demand.

Primary Features

County: Orange
Property Type: 2-4 Units
Zoning: Assessor

Interior

Cooling: Wall/Window
Heat Source: Natural Gas
Levels: 2 Story
Total Stories: 2
Unit 1 Number of Bedrooms: 1
Unit 1 Number Total Baths: 1
Unit 2 Number of Bedrooms: 1
Unit 2 Number Total Baths: 1
Unit 3 Number Bedrooms: 1
Unit 3 Number Total Baths: 1
Unit 4 Number of Bedrooms: 1
Unit 4 Number Total Baths: 1
Unit Number for Unit 1: 1
Unit Number for Unit 2: 2
Unit Number for Unit 3: 3
Unit Number for Unit 4: 4

External

Entry Only: no
Exterior: Stone, Stucco
Number of Buildings: 4
Number of Units: 12
Number of Units w/Range/Oven: 12
Number Units w/Cooling: 12
Pool: N/K
Roof: Composition, Rolled/Hot Mop, Other/Remarks
Site: Cul-De-Sac
Spa: N/K

Location

Topography: Level
Zip/Area: OC - ANAHEIM (92802)

Additional

Property Type: 2-4 UNITS
Supplement: 2066 & 2072 Spinnaker Street represent a well maintained and managed asset centrally located opportunity in Anaheim. This property comes to market for the first time in 54 years and has experienced the same family ownership since 1968. These 12 units are conveniently located minutes from Downtown Disney, the Disney Resort and the entertainment centers of the Platinum Triangle are less than and 5 minute drive from the subject property. The Spinnaker Apartment Homes offer spacious 1-bed, 1-ba units averaging a sizable 738 Sq. Ft. Many interiors have been renovated and the last remodel was re-rented quickly at $1775/mo. Recent remodels include shaker-style cabinets, quartz countertops, stainless steel sinks, base and door moldings, panel doors and hardware, plank flooring, ceiling fans, plug & electrical switches, plumbing fixtures, and two tone paint. Unit interiors feature a very large walk-in closet in the bedroom, storage /linen cabinets in the bathroom and very spacious interiors. Exterior improvements include newer garage doors with GDO's, roofs replaced in 2018-2020 with 20-year warranties new H2o heaters in 2019 & 2021, and all new exterior lighting fixtures. Each unit features gas heat and wall AC. The 2066 & 2072 Spinnaker properties are separately deeded and must sell and close concurrently. The Spinnaker Apartment Homes represent clean, classic workforce housing which is always in high demand.

Financial

Annual Expense Actual: 95078
Assessments: Yes/Remarks
Cap Rate Actual: 3.77
CFD/Mello-Roos Fee: 1480
CFD/Mello-Roos Fee Reflct: Year
Gross Rent Multiplier Act: 15.28
Gross Scheduled Income Actual: 228660
Possession: Close of Escrow
Sale/Rent: For Sale
Terms: Cash
Unit 1 Rent Actual: 1675
Unit 2 Rent Actual: 1725
Unit 3 Rent Actual: 1725
Unit 4 Rent Actual: 1725

Zoning Info


Area Info


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Listing courtesy of Kidder Mathews of California, Inc

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