
Anaheim, California 92806
This Strong Value Opportunity is a fully renovated Covington-style fourplex listed at $1,899,000, positioned well below the $2,039,710 Fair Market Value by 6%. This valuation gap provides $140,710 in Instant Equity. Featuring an Excellent Condition Rating and modern upgrades like quartz countertops, this turnkey asset offers immediate rental income. Its strategic location near the Platinum Triangle ensures high demand. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-performing, low-maintenance residential income property.
Property is new construction or fully renovated.
The property was fully renovated in 2024–2025, which is within the <5-year renovation window for an Excellent rating. The upgrades include modern kitchens with quartz countertops and stainless steel appliances, updated bathrooms, new cabinetry, and laminate flooring, making it a turnkey, mint-condition asset.
This property is a true turnkey investment, having undergone a full high-end remodel including quartz countertops, stainless steel appliances, and modern flooring, which minimizes immediate capital expenditures and attracts premium tenants.
The Covington-style layout features a spacious 3-bedroom owner’s unit with direct garage access plus three large 2-bedroom units, making it an ideal opportunity for both owner-users and traditional investors.
Situated on a corner lot near the 57 Freeway, Angel Stadium, and the upcoming OC Vibe development, the property is positioned in a high-growth area with consistent rental demand and strong appreciation potential.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =8276, other record lot size in square feet = 8131.
Despite the extensive cosmetic and interior renovations, the 1972 construction date implies that underlying structural components and main utility lines may eventually require maintenance compared to newer developments.
With a significant price increase since its late 2024 sale, the property is priced at a premium that may result in tighter initial cap rates for investors compared to value-add opportunities in the same submarket.
We are pleased to present 2321 E Omega Avenue, a beautifully remodeled Covington-style fourplex located in a highly desirable pocket of southeast Anaheim. Built in 1972 and totaling 4,345 square feet, this pride-of-ownership property has been fully renovated in 2024–2025, offering a truly turnkey investment opportunity for both owner-users and investors seeking strong in-place income and minimal ongoing maintenance. The property features the classic Covington layout with an ideal unit mix consisting of a spacious 3-bedroom, 2-bathroom owner’s unit with a private patio and direct-access two-car garage, two large 2-bedroom, 2-bathroom units each with their own garage, and an updated 2-bedroom, 1-bathroom upper unit featuring a private balcony. Each residence has been tastefully upgraded with modern finishes, including quartz countertops, stainless steel appliances, new cabinetry, updated bathrooms, laminate flooring, recessed lighting, and in-unit washer and dryer hookups. Situated on a prominent corner lot with only one neighboring building, the property benefits from enhanced privacy, natural light, and convenient access for tenants. Each unit enjoys either a private patio, yard, or balcony, with dedicated garage parking plus additional onsite spaces. The location offers exceptional convenience—just minutes from the 57 Freeway, Anaheim Stadium, the Honda Center, Disneyland, the Platinum Triangle, and the transformational OC Vibe development. Proximity to major employment centers, schools, parks, restaurants, and regional transit hubs ensures consistent rental demand and strong long-term appreciation potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,345 | 4,489.5 | 50% |
| Lot Size | 8,276.4 | 8,276.2 | 50% |
| Price | $1.90M | $1.67M | 50% |
| Price per sq ft | $437 | $375 | 50% |
| Built year | 1972 | 1971 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 32 | 74 | 50% |
May 14, 2026
$1,899,000
Initial Listing
Nov 22, 2024
$1,500,000
Public Record
Sep 27, 2013
$980,000
Public Record
Feb 19, 2013
$900,000
Public Record