140 W Orangethorpe Avenue,Placentia, CA 92870
Placentia, CA 92870
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.
Details
| MLS # | OC26219542 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 12 |
| Listing Provided By | Marcus & Millichap RE Invest | Michael Cavner |
Features
| SQ Feet | 60,354 |
|---|---|
| Story(s) | 1 |
| Units | 80 |
| Building(s) | 20 |
| Acreage | 5.17 |
Exterior
| Lot Features | Street Level |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Gutters, Street Lights, Sidewalks, Pool |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Placentia |
| Zip Code | 92870 |
| Area | 84 Placentia |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $29,500,000 low | high Med: $799,000 sqft: 60,354 low | high Med: 1,458 $ / sqft: $489 low | high Med: $548 On site: 12 low | high Med: 28 | |
Market Activity 92870
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Placentia |
| Zip Code | 92870 |
| Area | 84 Placentia |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $29,500,000 low | high Med: $799,000 sqft: 60,354 low | high Med: 1,458 $ / sqft: $489 low | high Med: $548 On site: 12 low | high Med: 28 | |