The Cottages at Olive in Historical Anaheim

116 - 118 S. Olive Street Anaheim, CA 92805

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FOR SALE Incentives
Property Type:
MultiFamily Apartments
Amount:
$2,998,888
Last Verified:
Aug 02, 2017

Highlights

  • Located in the Anaheim Colony Historic District.
  • Twelve bungalow style apartments
  • Individually metered for gas and electric
  • Outstanding Pro forma income

Description

SVN | Vanguard is pleased to present The Cottages at Olive. This beautiful multifamily residential community is located in the Anaheim Colony Historic District. It consists of six bungalow-style duplex buildings with tree-lined central courtyard. Each duplex consists of 2 one bedroom, one bathroom units. Built in 1922, the property offers vintage charm and thoughtful modern amenities that include 10 individual single car garages, laundry facilities, new roofs and air conditioners. The landscaped grounds boast matured growth that maintain the neighborhood's natural aesthetics and span a double parcel of approximately 14,704SF. The property is well maintained throughout offering a great pride of ownership investment for any investor who can realize an additional 10% upside in rent growth.

Each unit provides its own entrance, water heaters and are individually metered for gas and electric. Most units feature living rooms that showcase a built-in hutch, ceiling fan and plantation style blinds. Kitchens offer built-in dining tables, ironing boards and modern appliances including gas stoves, dishwashers and microwaves. Plenty of closet space and original cabinets complete these cozy apartment homes.

This twelve-unit property will be an excellent investment opportunity for investors who are looking at both long or short term investment horizons. The Cottages will be delivered with three vacant units (two are owner occupied), allowing a new investor an opportunity to immediately improve the property and command top-dollar rents.

Located between Lincoln Ave. and E. Broadway, just east of Anaheim Blvd. This site is ideally located just one block away from the newly restored Downtown, the Anaheim Colony Historic District. Centrally located in Anaheim, The Colony is a quaint neighborhood lined with Dutch Colonial, Victorian and Tudor-style homes. Known for its rich history, The Colony holds over 100 homes that contribute to its historical preservation. Because of its central location, The Colony gets top marks for its walkability and convenience. Right in the heart of downtown Anaheim, The Colony exemplifies elegance and charm, making it one of the most desirable neighborhoods in the city.

The Rinks of Anaheim (where the Ducks practice), Anaheim Packing House and numerous unique dining and entertainment experiences can be found downtown. All local amenities are within walking distance as well. Some of Orange County's finest attractions are within close proximate of the property: Disneyland Park & Resort, Downtown Disney, Downtown Anaheim, Angel Stadium of Anaheim, Honda Center and the Block at Orange.

It is situated between the 5 and 57 Freeways giving any resident easy access to LA and all of Orange County. Moreover, the property is within 10 minutes driving distance to Fullerton College, Cal State Fullerton, and Chapman University.


Year Built: 1922
Building Size: 5952.0sq ft
Lot Size: 0.34 acres

Map of 116 - 118 S. Olive Street, Anaheim, CA, 92805

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.