Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire The Pines, a 22-unit multifamily investment opportunity located in Anaheim, California. The 14,884-square foot property features a highly desirable mix of 18, one-bedroom units and 4, two-bedroom units. In recent years, the property has received significant capital investment into the renovation and modernization of the property’s exterior and unit interiors. Building upgrades include fresh paint, new roofs, professional landscaping, dual-pane windows, a master key system, and a modernized laundry room. Unit interiors feature an array of high-end upgrades such as vinyl flooring, quartz countertops, and stainless steel appliances (see OM for more details). The property offers amenities including ample tuck-under and surface parking, gated access, a swimming pool, and an on-site laundry facility. Additionally, current ownership has explored the possibility of constructing up to five accessory dwelling units (see OM for more details). The Pines benefits from its West Anaheim location within close proximity to residents every day needs including retail centers, schools, parks, and more. The property is situated in an optimal location for families looking for rental housing with convenient access to all three levels of schooling. Additionally, the property’s West Anaheim location puts it within a stone’s throw of major employers and entertainment destinations including Knott’s Berry Farm, Buena Park Downtown, and Disneyland. The West Anaheim submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 98 percent (3Q 2022) and average effective rent increase of 13.3 percent (year-over-year since 3Q 2021), demonstrating the strong demand for rental housing. Anaheim’s central location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets. Given the strength of the overall apartment market within the city of Anaheim, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation, and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at The Pines.