902 S Fann Street, Anaheim, California 92804, Anaheim, 92804 - 0 bed, 0 bath
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Anaheim, California 92804
This Multi-Unit Residential Asset presents a strategic acquisition in a high-demand Anaheim rental corridor, listed at $2,100,000—matching its $2,100,000 Fair Market Value. The property features seven units with a Condition Rating of 4, offering significant value-add potential through interior modernization. With a 4-year-old roof, separate utility meters, 1-car garages, and a private patio, the asset is positioned to transition from current under-market rents to a $191,000 Pro Forma. Located near Disneyland, this is an ideal play for Buy-and-Hold Investors or Portfolio Managers seeking immediate scale.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 902 S Fann Street Subject | $2,100,000* List Price | 0 | 0 | 4,568 | $460 | - |
A 906 S Fann Street Active | $2,100,000 List Price | 0 | 0 | 4,566 | $460 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1959, making it 65 years old. While the roof is a recent update (4 years old), the interior images show kitchens and bathrooms with dated styles, older white appliances, and basic fixtures. The presence of window AC units indicates a lack of central HVAC. The units are functional and appear maintained, but they have not undergone extensive modern renovations and would require significant updates to meet current standards.
Acquisition of 14 units across two mirror-match buildings offers significant scale and immediate portfolio diversification for an investor.
Situated in a prime Anaheim rental market, offering excellent access to major employment hubs, tourist attractions (Disneyland, Knott's Berry Farm), public transport, and local amenities.
Current rents are below market, presenting a clear opportunity to substantially increase annual income from $121,260 (for 7 units) to a pro forma of $191,000 (for 7 units), maximizing return on investment.
While offering future upside, the existing under-market rents mean the property currently generates lower cash flow than its potential, requiring active management to realize full income.
Built in 1959, the buildings are over six decades old, which may necessitate future capital expenditures for system upgrades (e.g., plumbing, electrical, HVAC) or general modernization not explicitly detailed.
A notable price reduction from the original listing price could indicate an initial overvaluation or a slower market response, potentially signaling a need for further negotiation or a longer time to close.
Excellent opportunity to own 14 units in Prime Anaheim rental location! This property is 7 units and is being sold with the mirror-match building next door also with its 7 units. 902 Fann and 906 Fann, Anaheim are being sold together. each building has 7 units; 3 2-bedroom units and 4 1-bedroom units, each unit has a 1 car garage. each unit has separate gas and electric meters. The roof is 4 years old. The building also has a coin operated laundry facility that generates income. All units are under market rent but there is still $121,260 in annual income for 7 units with a conservative Pro Forma of $191,000. Located 1 block to Euclid and Ball with many restaurants and also public transportation as well as close proximity to Disneyland, Knott's Berry farm and all the employment opportunities that Anaheim's Hotels, restaurants and attractions has to offer. Excellent curb appeal will make you proud when you drive by and check out the jewel in your investment portfolio!.
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 | 4,568 | 5,106 | 50% |
| Lot Size | 12,763 | 10,955.5 | 50% |
| Price | $2.10M | $1.97M | 50% |
| Price per sq ft | $460 | $392 | 50% |
| Built year | 1959 | 1960 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 441 | 398 | 0% |
Jan 28, 2026
$2,100,000
Initial Listing
Feb 5, 2025
$2,300,000
Initial Listing