
Anaheim, California 92804
This Turn-key Quadruplex Asset is listed at $1,750,000, positioned approximately 5% above its $1,662,327 Fair Market Value. The property justifies this valuation through a projected 5.67% Cap Rate and a 14.76 GRM, underpinned by the highly desirable Covington model design. Maintaining a Condition Rating of 3, the asset features updated kitchens and bathrooms, newer windows, and private garages with laundry hookups. Located on a quiet cul-de-sac near major theme parks, this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-quality house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 229 S Delano 4 Subject | $1,750,000* List Price | 0 | 0 | 4,357 | $382 | - |
A 216 S Ridgeway Street Sold | $1,630,000 | 0 | 0 | 4,589 | $355 | 0.4 mi |
B 900 S Hayward Active Under Contract | $1,250,000 List Price | 5 | 4 | 2,947 | $424 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
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.
The property features significant interior updates, including newer kitchens, bathrooms, flooring, and windows, minimizing immediate capital expenditure for the new owner.
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.
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.
Originally built in 1968, the property may require higher long-term maintenance costs for major systems like plumbing or electrical compared to modern constructions.
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.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 2.5 | 50% |
| Baths | 0.0 | 2.0 | 50% |
| Square foot | 4,357 | 4,028.5 | 50% |
| Lot Size | 7,841 | 8,797 | 50% |
| Price | $1.75M | $1.54M | 75% |
| Price per sq ft | $402 | $397 | 50% |
| Built year | 1968 | 1967 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 128 | 154 | 50% |
Feb 1, 2026
$1,750,000
$1,850,000
-5% Price Drop
Initial Listing
Dec 15, 2025
$1,850,000
Initial Listing