Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Casa Andini, 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.
The average household income in Buena Park is projected to grow by 15.51 percent to $103,255 by 2023 and the vacancy rate within a one mile radius of the subject property is just 1.20 percent. Furthermore, Buena Park’s average effective rents have increased by 4.8 percent year-over-year since second quarter 2018. In addition, Casa Andini’s strategic location, in close proximity to Interstate 5 and State Route 91, provides residents with convenient access to employment hubs in nearby cities.
Given the strong market dynamics and rental demand, as well as the property’s fantastic location, Casa Andini is well suited to provide investors with strong returns and value appreciation over the long term investment horizon.