Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Casa Del Sol Apartments, a 35-unit multifamily investment property located in West Anaheim, one of the premier rental markets in Southern California.
The 28,837 square foot property consists of one-, two-, and three-bedroom floor plans. Built in 1966, Casa Del Sol Apartments offers amenities including controlled access, carport and garage parking, a spacious courtyard, private patios (select units), a swimming pool, and on-site laundry. The property recently underwent exterior renovations including new paint, windows (select units), landscaping, monument signs and an updated courtyard with a new swimming pool and built-in BBQ. It’s these quality amenities that will continue to drive the property’s success.
The West Anaheim submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 97.0 percent (1Q 2019) and average effective rent increase of 4.7 percent (year-over-year since 1Q 2018), demonstrating the strong demand for rental housing. Anaheim’s central location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets.
Given the strength of the overall apartment market within the city of Anaheim, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at Casa Del Sol Apartments.