902 S Fann Street, Anaheim, California 92804, Anaheim, 92804 - bed, bath
ACTIVE$2,100,000
902 S Fann Street, Anaheim, California 92804
0Bed
0Bath
4,568Sqft
12,763Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Unit Count & Investment Scale: The offering includes 14 units across two buildings, providing substantial rental income potential and economies of scale for a multi-family investor.
Top Cons:
Age of Property: Built in 1959, the buildings may have aging systems (e.g., plumbing, electrical) beyond the recently replaced roof, potentially necessitating future significant capital expenditures.
Compared to the nearby listings
Price:$2.10M vs avg $2.10M (+$0)50%
Size:4,568 sqft vs avg 5,644 sqft40%
Price/sqft:$460 vs avg $40460%
More Insights
Built in 1959 (66 years old).
Condition: The property was built in 1959, making it over 60 years old. While the roof is a recent update (4 years old), the interior images, particularly of the kitchen and bathroom, reveal significantly outdated fixtures, cabinets, and appliances (e.g., older white refrigerator and gas range, basic vanity, dated light fixtures). The flooring appears to be a more recent laminate, and the walls are freshly painted, indicating regular upkeep and minor cosmetic updates. However, the core components of the kitchen and bathroom show clear signs of age and are functional but outdated, aligning with the 'Fair' condition criteria. The MLS description also notes 'aging systems' as a potential weakness, further supporting this assessment.
Year Built
1959
Close
-
List price
$2.1M
Original List price
$2.3M
Price/Sqft
$460
HOA
-
Days on market
-
Sold On
-
MLS number
PW25025098
Home ConditionFair
Features
View-
About this home
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!.
Condition Rating
Fair
The property was built in 1959, making it over 60 years old. While the roof is a recent update (4 years old), the interior images, particularly of the kitchen and bathroom, reveal significantly outdated fixtures, cabinets, and appliances (e.g., older white refrigerator and gas range, basic vanity, dated light fixtures). The flooring appears to be a more recent laminate, and the walls are freshly painted, indicating regular upkeep and minor cosmetic updates. However, the core components of the kitchen and bathroom show clear signs of age and are functional but outdated, aligning with the 'Fair' condition criteria. The MLS description also notes 'aging systems' as a potential weakness, further supporting this assessment.
Pros & Cons
Pros
Significant Unit Count & Investment Scale: The offering includes 14 units across two buildings, providing substantial rental income potential and economies of scale for a multi-family investor.
Prime Anaheim Location: Situated in a highly desirable rental location with excellent proximity to major employment hubs (Disneyland, Knott's Berry Farm), public transportation, and local amenities, ensuring strong tenant demand.
Substantial Income Upside Potential: Current rents are noted as 'under market,' with a conservative Pro Forma indicating significant potential for increased annual income upon rent adjustments and active management.
Individual Utilities & Garages: Each unit features separate gas and electric meters, reducing landlord operating expenses, and includes a dedicated 1-car garage, a valuable amenity for tenants.
Recent Roof & Additional Income Stream: A 4-year-old roof minimizes immediate capital expenditure concerns, and a coin-operated laundry facility provides an additional revenue source for the property.
Cons
Age of Property: Built in 1959, the buildings may have aging systems (e.g., plumbing, electrical) beyond the recently replaced roof, potentially necessitating future significant capital expenditures.
Current Under-Market Rents: While offering upside, realizing the pro forma income requires active management, potential tenant turnover, and possibly unit renovations, which could incur costs and temporary vacancies.
Lack of Mentioned HVAC/Cooling: The property description does not specify the presence of air conditioning in the units, which could be a significant drawback for tenants in Anaheim's climate and a potential future investment for the owner.