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Multifamily

111 South Flower Avenue

111 South Flower Avenue, Brea, CA 92821

Listing Price: $6,750,000

Cap Rate
4.50%
Number of Units
18
GRM
13.86
Price/Unit
$375,000
Price/Gross SF
$551.20
Gross SF
12,246

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 111 South Flower Avenue, an 18-unit multifamily investment property located in Brea, California.

The property offers a diverse mix consisting of 5, studio units, 6, one-bedroom units, 6, two-bedroom units, and 1, three-bedroom unit. Residents enjoy the property’s amenities including ample garage and surface parking, an on-site laundry facility, and private patios (first-floor units). Current ownership has invested significant capital into unit and property improvements, and has stabilized the asset with in-place rents near market rental rates. Improvements include fresh paint, vinyl flooring, quartz countertops, shaker-style cabinetry, recessed lighting, and more.

111 South Flower Street is situated in an optimal Brea location, within walking distance of a plethora of retail, dining, and entertainment options at Brea Downtown, Brea Gateway, Brea Marketplace, and the Brea Mall. Furthermore, 111 South Flower Street benefits from its proximity, within 2.50 miles, to California State University Fullerton (CSUF), a major economic and housing driver for the area. Th property offers convenient access to Imperial Highway and State Route 57, connecting residents to regional employment hubs throughout Southern California.

Given its optimal Brea location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued success at 111 South Flower Street. As of May 1, 2024, there are no active multifamily listings of 5 or more units in the city of Brea and no multifamily property has sold in the city since May of 2023. Therefore, 111 South Flower represents a unique opportunity to acquire a sizable multifamily footprint in a low velocity market.

Investment Highlights

  • Diverse Mix of Studio, One, Two, & Three-Bedroom Floor Plans
  • Fully Renovated Units with High Quality Finishes & Upgrades Including Fresh Paint, Vinyl Flooring, Quartz Countertops, Shaker-Style Cabinetry, & More
  • Stabilized Asset with In-Place Rents Near Market Rental Rates
  • First-Floor Units Feature Private Patios
  • Features an On-Site Laundry Facility
  • Ample Surface & Garage Parking: 31 Total Spaces
  • Optimal Brea Location Surrounded by a Plethora of Retail, Dining, & Entertainment Options
  • Within Walking Distance of Lagos De Moreno Park & Laurel Elementary School

Exclusively Listed By

Financing By

Multifamily

111 South Flower Avenue

Listing Price: $6,750,000

Cap Rate
4.50%
Number of Units
18
GRM
13.86
Price/Unit
$375,000
Price/Gross SF
$551.20
Gross SF
12,246

Investment Highlights

  • Diverse Mix of Studio, One, Two, & Three-Bedroom Floor Plans
  • Fully Renovated Units with High Quality Finishes & Upgrades Including Fresh Paint, Vinyl Flooring, Quartz Countertops, Shaker-Style Cabinetry, & More
  • Stabilized Asset with In-Place Rents Near Market Rental Rates
  • First-Floor Units Feature Private Patios
  • Features an On-Site Laundry Facility
  • Ample Surface & Garage Parking: 31 Total Spaces
  • Optimal Brea Location Surrounded by a Plethora of Retail, Dining, & Entertainment Options
  • Within Walking Distance of Lagos De Moreno Park & Laurel Elementary School

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 111 South Flower Avenue, an 18-unit multifamily investment property located in Brea, California. The property offers a diverse mix consisting of 5, studio units, 6, one-bedroom units, 6, two-bedroom units, and 1, three-bedroom unit. Residents enjoy the property’s amenities including ample garage and surface parking, an on-site laundry facility, and private patios (first-floor units). Current ownership has invested significant capital into unit and property improvements, and has stabilized the asset with in-place rents near market rental rates. Improvements include fresh paint, vinyl flooring, quartz countertops, shaker-style cabinetry, recessed lighting, and more. 111 South Flower Street is situated in an optimal Brea location, within walking distance of a plethora of retail, dining, and entertainment options at Brea Downtown, Brea Gateway, Brea Marketplace, and the Brea Mall. Furthermore, 111 South Flower Street benefits from its proximity, within 2.50 miles, to California State University Fullerton (CSUF), a major economic and housing driver for the area. Th property offers convenient access to Imperial Highway and State Route 57, connecting residents to regional employment hubs throughout Southern California. Given its optimal Brea location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued success at 111 South Flower Street. As of May 1, 2024, there are no active multifamily listings of 5 or more units in the city of Brea and no multifamily property has sold in the city since May of 2023. Therefore, 111 South Flower represents a unique opportunity to acquire a sizable multifamily footprint in a low velocity market.

Exclusively Listed By

Financing By

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