1827 W Gramercy Avenue, Anaheim, California 92801, Anaheim, 92801 - bed, bath
ACTIVE$1,590,000
1827 W Gramercy Avenue, Anaheim, California 92801
0Bed
0Bath
3,827Sqft
5,663Lot
Year Built
1960
Close
-
List price
$1.59M
Original List price
$1.59M
Price/Sqft
$415
HOA
-
Days on market
-
Sold On
-
MLS number
PW24183098
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.59M(75th), sqft - 3827(88th), beds - undefined(50th), baths - undefined(50th).
THIS EXPANSIVE FOURPLEX, SITUATED IN A PRIME ANAHEIM AREA, FEATURES UNIT #A WITH 2 BEDROOMS AND 1 BATH, UNIT #B WITH 2 BEDROOMS AND 1 BATH, UNIT #C WITH 3 BEDROOMS AND 1 BATH, AND UNIT #D WITH 4 BEDROOMS AND 2 BATHS. EACH UNIT BOASTS ITS OWN WATER HEATER, CERAMIC TILES IN THE KITCHEN AND BATHROOM, AND INCLUDES A SINGLE-CAR GARAGE. AN IDEAL HASSLE-FREE INVESTMENT, THIS PROPERTY IS CONVENIENTLY LOCATED NEAR MAJOR SCHOOLS, SHOPPING CENTERS, AND THE 5 AND 91 FREEWAYS. LONG-STANDING FAMILY TENANTS CONTRIBUTE TO LOW BUILDING EXPENSES BY PAYING FOR THEIR OWN GAS, ELECTRICITY, AND TRASH.
Condition Rating
Poor
Built in 1960, this property is 64 years old with no indication of major renovations. The MLS description explicitly mentions 'aging infrastructure, including plumbing, electrical, and other major systems, which could necessitate significant capital expenditures for upgrades or repairs in the near future.' While ceramic tiles are noted in kitchens and bathrooms, this is a minor cosmetic update and does not address the likely outdated style, fixtures, and appliances, or the underlying system issues. The exterior images show an older building with visible wear, consistent with a property requiring substantial repairs and rehabilitation to meet modern standards and ensure long-term functionality.
Pros & Cons
Pros
Prime Investment Location: Situated in a desirable Anaheim area, the property benefits from convenient proximity to major schools, shopping centers, and the 5 and 91 freeways, ensuring strong tenant demand and potential for appreciation.
Reduced Operating Expenses: Each unit features its own water heater, and long-standing tenants cover their own gas, electricity, and trash, significantly lowering the landlord's utility and operational costs.
Diverse Unit Mix & Amenities: The fourplex offers a varied unit composition (2B/1B to 4B/2B), appealing to a broad tenant base, and each unit includes a valuable single-car garage for parking and storage.
Established Tenant Base: The presence of long-standing family tenants suggests a stable income stream and potentially lower vacancy rates, contributing to a more predictable investment.
Multi-Unit Income Property: As an expansive fourplex, this property provides multiple income streams, diversifying investment risk and offering a robust opportunity in a strong rental market.
Cons
Property Age & Potential for Outdated Systems: Built in 1960, the property may have aging infrastructure, including plumbing, electrical, and other major systems, which could necessitate significant capital expenditures for upgrades or repairs in the near future.
Potential for Below Market Rents: The presence of long-standing tenants often implies that current rents may be below market rates, potentially limiting immediate cash flow upside for a new owner without tenant turnover or rent adjustments.
Unspecified Condition/Deferred Maintenance: The description does not detail recent major renovations or system updates beyond ceramic tiles, suggesting a potential for deferred maintenance or the need for cosmetic and functional upgrades to maximize rental income and tenant appeal.