Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present Sunrise Fountains Apartments, a 132-unit multifamily investment opportunity located in Anaheim, CA. With a prime Anaheim location, residents of Sunrise Fountains Apartments are at the epicenter of all that Anaheim has to offer. The property is located just blocks west of the Platinum Triangle, home to Angel Stadium and The Honda Center, granting residents easy access to some of the City’s most exciting events. Residents enjoy Sunrise Fountains Apartments’ close proximity to Anaheim GardenWalk, placing residents moments away from a plethora of retail, dining, and entertainment options. Additionally, the property is located just over 1 mile southeast from Disneyland, the premier employer within the City as well as a major economic and housing driver for the area. Furthermore, the DisneylandForward development plan is expected to create a multitude of new employment opportunities for the area, increasing the demand for well located apartments. Sunrise Fountains Apartments offers an excellent mix of one and two-bedroom floor plans and a comprehensive community amenity package that includes a swimming pool, fitness center, clubhouse, gated access, and more. Currently, just over 17 percent of the units have undergone significant renovations. These unit improvements include in-unit laundry hookups, vinyl and carpet flooring, granite countertops, and more, all of which have allowed current ownership to achieve a rental premium over non-renovated units. There is a clear and proven opportunity for new ownership to further increase the income stream through the continuation of the in-place renovation plan by upgrading all units to high-end specifications. Furthermore, new ownership has the opportunity to capitalize on underutilized community space by constructing three accessory dwelling units, which will help to diversify the unit mix and increase potential rental revenue. In addition to the renovation plan, Anaheim’s continued strong rental metrics, including a Q1 2023 vacancy rate of 2.9 percent and a year-over-year rent growth of 12.5 percent for 2022, are evidence of the substantial demand for rental units in the city. When coupled with the varied unit mix, encompassing amenity package, and prime Anaheim location, Sunrise Fountains Apartments represents an enticing opportunity for a new owner.