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2044 S Nautical Street, Anaheim, California 92802, Anaheim, 92802 - bed, bath

2044 S Nautical Street, Anaheim, California 92802 home-pic-0
ACTIVE$2,100,000
2044 S Nautical Street, Anaheim, California 92802
0Bed
0Bath
4,483Sqft
7,841Lot
Year Built
1969
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$468
HOA
-
Days on market
-
Sold On
-
MLS number
WS25045586
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros.

Prime Investment Opportunity in Anaheim – Fully Occupied 4-Unit Apartment Near Disneyland and Angel Stadium! Discover an exceptional investment opportunity in Anaheim, CA! This fully occupied 4-unit apartment building is strategically located just 3 miles from Disneyland and a short distance from Angel Stadium, making it a dream investment. With new plumbing, fresh paint, a dedicated laundry room, and a satisfactory balcony inspection in compliance with SB721, this property is not only well-maintained but also primed for increased returns. Property Highlights: Unit Mix: 1 Unit: 3 Bedrooms, 2 Bathrooms 3 Units: 2 Bedrooms, 1 Bathroom Current CAP Rate: 4.40%+ Potential CAP Rate (Post-Renovation): 5.45%+ Recent Upgrades: New Plumbing: Ensures long-term reliability and reduces maintenance costs. Fresh Paint: Enhances curb appeal and tenant satisfaction. Satisfactory Balcony Inspection (SB721 Compliance): Ensures structural safety and compliance with California regulations, minimizing potential liabilities. Dedicated Laundry Room: Convenient on-site laundry facilities for tenants, adding value and appeal. Renovation Status: 2 Units: Beautifully remodeled and commanding market rent. 2 Units: Opportunity for upgrades to further boost rental income and maximize the CAP rate. Key Features: Prime Location: Easy access to entertainment hubs, dining, and major highways. Steady Cash Flow: Fully occupied with reliable tenants. Value-Add Potential: Renovate the remaining two units to unlock higher rental income. Whether you’re a seasoned investor or looking to expand your portfolio, this property offers a perfect blend of stability, growth potential, and low-maintenance benefits. Act fast, opportunities like this don’t last long in Anaheim! Contact us today to secure this promising investment! DO NOT DISTURB THE TENANTS!

Condition Rating
Fair
Built in 1969, this property shows a mix of recent updates and original features. While the listing notes 'new plumbing,' 'fresh paint,' and '2 units beautifully remodeled' (as seen in the updated kitchen with gray shaker cabinets and modern faucet), the presence of popcorn ceilings, visible window AC units, and the fact that '2 units' still require 'upgrades' indicate that the property is aged and not fully modernized. It is maintained and functional, but major components in some units and overall systems show signs of being outdated, requiring further investment to reach its full potential.
Pros & Cons

Pros

Prime Location: Strategically located just 3 miles from Disneyland and a short distance from Angel Stadium, offering high tenant demand and potential for appreciation in a desirable Anaheim market.
Value-Add Potential: Significant opportunity to increase the CAP rate from 4.40%+ to 5.45%+ by renovating the remaining two units, allowing for higher rental income and maximized returns.
Steady Cash Flow: The property is fully occupied with reliable tenants, ensuring immediate and consistent rental income from day one of ownership.
Recent Capital Improvements: Recent upgrades including new plumbing, fresh paint, and a dedicated laundry room, along with SB721 compliant balcony inspection, reduce immediate maintenance concerns and enhance tenant appeal.
Desirable Unit Mix: The unit mix of one 3-bedroom/2-bathroom and three 2-bedroom/1-bathroom units caters to a broad tenant base, from families to smaller households.

Cons

Renovation Required for Full Potential: Two of the four units require upgrades to achieve market rent and maximize the projected CAP rate, necessitating additional capital expenditure and project management post-acquisition.
Age of Property: Built in 1969, the property, despite recent plumbing and paint upgrades, may still have original systems (e.g., electrical, HVAC, roof) that could require future significant investment.
Limited Due Diligence Access: The instruction 'DO NOT DISTURB THE TENANTS!' may limit comprehensive interior inspections or tenant interviews, potentially obscuring underlying issues or tenant relations.

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