Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 721 West La Palma Avenue, a 12-unit multifamily investment property located in Anaheim, California. The property offers a highly desirable mix consisting exclusively of two-bedroom units, of which eight are townhome floorplans. Residents enjoy amenities such as private balconies, in-unit laundry, and ample parking in a gated parking garage. Additionally, current ownership has invested significant capital into interior and exterior improvements at 721 West La Palma Avenue including fresh paint, an automatic fire sprinkler system in the parking garage, and upgrades to air conditioning units, stairs, railings, and balconies. 721 West La Palma Avenue’s optimal North Orange County Location, situated between Downtown Anaheim and Downtown Fullerton, provides easy access to a plethora of unique shops, restaurants, and attractions. Additionally, the property places residents in close proximity to the regions top employers including the Anaheim Regional Medical Center, just over 0.25 miles from the property, as well as Disneyland, the Anaheim Convention Center, and California State University, Fullerton, which are all within a 3 mile radius of the property. Furthermore, the property provides residents with convenient access to State Routes 57 and 91, Interstate 5, and multiple train and transit stations, connecting residents to employment hubs throughout Southern California. The Anaheim submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.1 percent (Q2 2024) and average year-over-year effective rent growth of 3.5 percent for 2023, 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 convenient location with 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 721 West La Palma Avenue.