Listing ID: OC22084421
Price: $3,495,000
Price/SqFt: $394.65
Status: Active Under Contract
Address: 2066 S Spinnaker Street
City: Anaheim
State: California
Postal Code: 92802
SqFt: 8,856
Acres: 0.342
County: Orange
Subdivision: Other (OTHR)
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.

Primary Features

County: Orange
Price/SqFt: 394.65
Property Type: Residential Income
Subdivision: Other (OTHR)
Year Built: 1962

Interior

Average 1 Bed Area: 738
Average 1 Bed Area Units: Square Feet
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: 2+ Common Walls
Cooling: yes
Cooling Type: Electric, Wall/Window Unit(s)
Fireplace: no
Fireplace Features: None
Flooring: Carpet, Laminate, Vinyl
Garage Spaces: 16
Heating: yes
Heating Type: Natural Gas, Wall Furnace
Interior Features: Ceiling Fan(s)
Laundry: yes
Laundry Features: Community
Levels: Two
Number Wall AC: 12
Number With Range: 12
Spa: no
Spa Features: None
Stories Total: 2

External

Construction Materials: Frame, Stone, Stone Veneer, Stucco
Exterior Features: Lighting
Foundation Details: Slab
Lot Features: Cul-De-Sac, Landscaped, Level with Street, Lot 10000-19999 Sqft
Lot Size Area: 14900
Lot Size Source: Assessor
Lot Size Square Feet: 14900
Number Of Buildings: 4
Parking: yes
Parking Features: Paved, Garage Faces Rear, Garage - Two Door, Off Street, On Site, Shared Driveway, Side by Side
Parking Total: 18
Pool Features: None
Private Pool: no
Property Attached: yes
Road Frontage Type: Alley, City Street
Road Surface Type: Alley Paved, Paved
Roof: Composition, Rolled/Hot Mop, See Remarks
Sewer: Public Sewer
Uncovered Spaces: 2
Water Source: Public

Location

Country: US
Elevation Units: Feet
MLS Area Major: 78 - Anaheim East of Harbor
Subdivision Name Other: none

Additional

Additional Parcels: yes
Assessments: Special Assessments, Buyer to Assume, Buyer to Verify
Co List Agent State License: 01914094
Co List Office State License: 01946490
Community Features: Suburban
Days On Market: 22
List Agent State License: 00972129
List Office State License: 01946490
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 1
Number Of Separate Gas Meters: 1
Number Of Separate Water Meters: 1
Number Of Units Leased: 5
Number Of Units Total: 12
Parcel Number: 13744111
Security Features: Carbon Monoxide Detector(s), Security Lights, Smoke Detector(s)
Senior Community: no
Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Year Built Source: Assessor

Financial

Cap Rate: 3.77
Gross Multiplier: 15.28
Gross Scheduled Income: 228660
Insurance Expense: 7000
Land Lease: no
Net Operating Income: 131891
Operating Expense: 95078
Price Per Unit: 291250
Rent Control: yes
Special Listing Conditions: Standard
Tax Census Tract: 875.04
Tax Lot: 13
Tax Tract Number: 3017
Total Actual Rent: 19055
Total Expenses: 95078
Vacancy Allowance: 6860
Vacancy Allowance Rate: 3

Zoning Info


Area Info


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Listing Agent: Steven Brombal, DRE #00972129 from Kidder Mathews of California, Inc
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Listing Agent: Steven Brombal, DRE #00972129 from Kidder Mathews of California, Inc
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Listing Agent: Steven Brombal, DRE #00972129 from Kidder Mathews of California, Inc

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