CA > Buena Park
Buena Park, CA 90620,7531 Knott AVE
Buena Park, CA 90620,7531 Knott AVE
Buena Park, CA 90620,7531 Knott AVE
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Diego Magdaleno

Diego Magdaleno

1Vision Real Estate

+1(714) 681-1222
$9,500,000
Est. payment /mo
0.89 Acres Lot
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UPDATED:

11/21/2024 12:57 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC24123564

HOA Y/N No

Year Built 1973

Lot Size 0.890 Acres

Property Description

Casa Andini is a 24-unit multifamily investment property located at 7531 Knott Avenue in Buena Park, CA. Situated on a 0.89-acre lot, Casa Andini offers 2, one-bedroom units and 22, two-bedroom units, each with a den. Residents enjoy the property’s amenities including surface, tuck-under, and carport parking, gated access, private patios or balconies, and on-site laundry. Buena Park’s strong rental metrics including a 2023 vacancy rate of just 2.2 percent and year-over-year rent growth of 4.2 percent are evidence of the substantial demand for rental units in the area. With current rents below market rates, Casa Andini represents an attractive value-add opportunity for a new owner to potentially achieve a substantial 25.8 percent increase in rental income. Casa Andini offers its residents an unparalleled Buena Park location, as the property is situated in close proximity to the city’s most popular attractions, retail centers, and major employers. Furthermore, Casa Andini is within 0.5 miles of Yamaha Corporation of America’s headquarters, a premier employer in the city as well as the site of a major redevelopment project. This excellent positioning surrounds the property with employment and housing drivers as residents are within walking distance of Buena Park’s top employers as well as a plethora of shops, restaurants, and entertainment venues. Given the property’s fantastic unit mix and attractive amenities as well as its unmatched location, Casa Andini is well suited to provide investors with strong returns over the long-term investment horizon.

Location

State CA

County Orange

Area 82 - Buena Park

Interior

Fireplace No

Laundry Common Area

Exterior

Carport Spaces 24

Pool None

Community Features Curbs, Gutter(s), Sidewalks

Total Parking Spaces 42

Private Pool No

Building

Lot Description Street Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 26349110

Energy Description 10462.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Tyler Leeson • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com
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