127 W. Cypress St., Anaheim, CA 92805
Price: $4,100,000
Number of Units: 20
Year Built: 1982
Price per Unit: $205,000
Price per Square Foot: $366.07
Cap Rate: 3.6%
Mix: 20 One Bedroom, One Bathroom Units
Description
Cypress Senior Apartments is on the market for the first time by the original owner developer. The property has undergone many recent major upgrades including 7 newly rebuilt balconies, new exterior paint, all decks and walkways resurfaced, recent landscape upgrades including sprinkler system, and a new 30 year roof that was installed in 2011. New owner can realize significant rental upside with all units currently being M-T-M and under no rental restrictions. Currently, the owner is paying for tenant’s trash; this can be easily transferred to residents with a 60-day notice. Property is located across the street from a major mixed-use retail/residential development.
