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906 S Fann Street, Anaheim, California 92804, Anaheim, - bed, bath

home-pic
ACTIVE$2,100,000
906 S Fann Street, Anaheim, California 92804
0Bed
0Bath
4,566Sqft
6,312Lot
Year Built
1960
Close
-
List price
$2.1M
Original List price
$2.3M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25025300
Home ConditionFair
Features
Good View: Courtyard
Patio
ViewCourtyard

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 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. 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. The building also has a coin operated laundry facility that generates income. 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 1960. The roof is only 4 years old, but the kitchens and bathrooms appear dated. The interior photos show some updated flooring, but the overall condition suggests it's aged but maintained. It requires minor updates or repairs to bring it up to modern standards.
Pros & Cons

Pros

High Income Potential: The property generates a substantial annual income with significant potential for increased revenue through market rent adjustments.
Prime Location: Located in a desirable Anaheim rental area, close to Euclid and Ball, offering convenient access to restaurants and public transportation.
Multiple Units: Comprising 14 units (two buildings with 7 units each), this property offers a diversified income stream and reduced vacancy risk.
Separate Utilities: Each unit has separate gas and electric meters, simplifying utility management and billing for tenants.
Recent Roof: The roof is only 4 years old, reducing the likelihood of immediate major repair expenses.

Cons

Below Market Rents: Current rents are below market value, requiring immediate attention and potential tenant turnover to maximize income.
Age of Property: Built in 1960, the property may require ongoing maintenance and potential upgrades to meet modern tenant expectations and building codes.
Potential Management Overhead: Managing 14 units requires significant time and resources, potentially necessitating professional property management services.

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