Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Vista Del Sol Apartments, a 70-unit multifamily investment property located in West Anaheim, one of the premier rental markets in Southern California.
The 58,811 square foot property consists of one- and two-bedroom floor plans, 14 of which are two-bedroom townhomes. Built in 1966, Vista Del Sol Apartments offers amenities including ample garage parking, controlled access, a well-maintained and spacious courtyard, a sparkling swimming pool, private patios/balconies, and on-site laundry facilities. The property recently underwent exterior renovations including new paint, windows (select units), landscaping, monument signs and an updated swimming pool. 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 Vista Del Sol Apartments.