229 S Delano 4, Anaheim, California 92804, Anaheim, 92804 - bed, bath

229 S Delano 4
Anaheim, California 92804
Property Price
SUMMARY
Analysis of 229 S Delano 4, Anaheim, California 92804 is currently available with a list price of $1,750,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Anaheim Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is move-in ready and well-maintained with significant interior updates. Although built in 1968, the units feature newer kitchens, bathrooms, laminate flooring, and updated windows. It is described as a turn-key investment with functional systems and minimal wear, fitting the criteria for a well-maintained property that does not require immediate renovation.
PROSSTRENGTHS & OPPORTUNITIES
- Turn-key Condition
The property features significant interior updates, including newer kitchens, bathrooms, flooring, and windows, minimizing immediate capital expenditure for the new owner.
- High Tenant Appeal
The desirable Covington model layout, private garages with laundry hookups, and cul-de-sac location ensure high occupancy rates and long-term tenant retention in a competitive market.
- Strong Financial Performance
With a projected 5.67% Cap Rate and 14.76 GRM, the property offers stable cash flow and additional revenue potential through community laundry and parking fees.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Originally built in 1968, the property may require higher long-term maintenance costs for major systems like plumbing or electrical compared to modern constructions.
- Rent Control Constraints
Being fully occupied by long-term tenants in California, future rent increases are subject to state regulations, which may limit the speed of reaching full market-rate yields.
About 229 S Delano 4
Excellent opportunity to acquire a fully occupied 4-unit property on a cul-de-sac, in the highly desirable West Anaheim rental market. This well-maintained Covington model fourplex is widely regarded as one of the most sought-after 4-plex designs in the area due to its functional layouts, private garages, and strong tenant appeal. Calculated with the current rent increase set for Feb. 1, 2026, The property will be operating at a Gross Rent Multiplier (GRM) of 14.76 with a Cap Rate of approximately 5.67%, offering immediate income with clear upside potential through future rent increases and potentially additional parking income. All four units are occupied by strong, long-term tenants, providing stability and consistent cash flow. Each unit has been updated with newer kitchens and bathrooms, along with newer carpeting and laminate flooring, making the property well positioned for continued tenant retention and future rent growth. Key features include: Private garages for each unit with interior garage laundry, Additional community laundry, creating multiple income streams, Updated windows, Well-maintained exterior and systems, Attractive grass yard courtyard area, enhancing tenant livability and curb appeal, Additional parking income potential. The property is ideally located near major freeway access, shopping, dining, and is just minutes from world-class theme parks, making it extremely attractive to renters and supporting long-term demand. This is a turn-key investment with stable in-place income, desirable unit features, and meaningful upside for investors seeking a well-located Anaheim asset with proven performance and future growth potential.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1968
- Lot Size
- 7,841 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 4,357 | 4,357 | 50% |
| Lot Size | 7,841 | 9,753 | 33% |
| Price | $1.75M | $1.63M | 67% |
| Price per sq ft | $402 | $392 | 67% |
| Built year | 1968 | 1968 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 82 | 82 | 67% |
Pricing History
Listed for Sale
Feb 1, 2026
$1,750,000
$1,850,000
-5% Price Drop
Initial Listing
Price Change
Dec 15, 2025
$1,850,000
Initial Listing












