2561 E Ward Terrace, Anaheim, California 92806, Anaheim, - bed, bath

home-pic
ACTIVE UNDER CONTRACT$1,510,000
2561 E Ward Terrace, Anaheim, California 92806
0Bed
0Bath
3,969Sqft
9,310Lot
Year Built
1968
Close
-
List price
$1.51M
Original List price
$1.55M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25168081
Home ConditionFair
Features
Patio
View-

About this home

We proudly offer the opportunity to acquire 2561 E Ward Terrace, a well-maintained 4-unit multifamily investment property located in Anaheim, CA. The subject property features an exceptionally diverse unit mix comprised of (1) three-bedroom/two-bathroom unit, (1) two-bedroom/one-bathroom unit, and (2) one-bedroom/one-bathroom units, which attract a large pool of potential renters. Situated on a large 9,310 square foot lot, 2561 E Ward Terrace provides residents with amenities such as on-site laundry, garage parking, and a shared common area courtyard. Unit A is provided (1) double car garage, Units B and C share (1) double car garage, Unit D uses (1) single car garage and is assigned (1) open parking space. Current ownership has meticulously maintained the subject property with numerous upgrades over the years, including, but not limited to re-stuccoing the entire building three years ago, adding new dual-pane windows three years ago, new washer and dryers added three years ago, hardwood floors in Unit A, new bedroom carpet in Unit B and Unit D, whole house fans in Units A, B, and C and new counter tops, new flooring, and new bedroom carpet in Unit C (2025). The building is also equipped with copper plumbing, separate gas and electric meters, a 75-gallon water heater, central air in Unit D, and wall AC/heat in the other three units. Given current ownership’s meticulous upkeep, 2561 E Ward Terrace provides a new owner an opportunity to acquire a well-maintained property with an opportunity to further increase value through annual rent increases.

Price History

Date
Event
Price
10/10/25
Price Change
$1,510,000-0.7%
09/22/25
Price Change
$1,520,000-1.9%
07/25/25
$1,550,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (5 Listings)
Beds00
Baths00
Square foot3,9693,821
67%
Lot Size9,3108,930
83%
Price$1.51M$1.44M
67%
Price per square foot$380$378
67%
Built year19689825983
83%
HOA
Days on market10264
83%
Condition Rating
Fair

Built in 1968, this property has undergone significant recent exterior updates including re-stuccoing and new dual-pane windows within the last three years, along with copper plumbing. Interior updates include new flooring and carpet in some units. However, the kitchens feature older white appliances and outdated fluorescent lighting, despite having granite countertops. Most units rely on less efficient wall AC/heat units, and common area asphalt shows cracking. While well-maintained and functional, these outdated elements prevent it from reaching a 'Good' rating, aligning it with a 'Fair' condition where it is aged but maintained with occasional updates, and major components are functional but show signs of being outdated.
Pros & Cons

Pros

Recent Capital Improvements: Extensive upgrades including re-stuccoing, dual-pane windows, new laundry facilities, and interior finishes significantly enhance the property's condition and tenant appeal.
Diverse Unit Configuration: The property features an exceptionally diverse unit mix (3B/2B, 2B/1B, two 1B/1B units), catering to a broad tenant base and optimizing occupancy.
Desirable Tenant Amenities: On-site laundry, ample garage parking, and a shared common area courtyard provide valuable conveniences and increase tenant desirability.
Updated Core Infrastructure: Equipped with copper plumbing, separate gas and electric meters, and individual AC/heating systems (central in one unit, wall units in others), contributing to operational efficiency and tenant comfort.
Clear Value-Add Opportunity: The property offers a direct opportunity for a new owner to increase value through strategic annual rent adjustments, indicating potential for higher returns.

Cons

Property Age: Built in 1968, despite recent upgrades, the underlying structure is over 50 years old, which may lead to unforeseen maintenance issues with original components over time.
Varied HVAC Systems: Only one unit benefits from central air conditioning, with the remaining three units relying on less preferred wall AC/heat systems, which could be a minor drawback for some prospective tenants.
Recent Price Reductions: Multiple price reductions from the original list price suggest potential market resistance or an initial overvaluation, indicating a need for careful pricing strategy or further market analysis.

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