Multifamily

Hillcrest Senior Condominums

1501 N Brea Boulevard, Fullerton, CA 92835

Listing Price: $5,000,000

Cap Rate
4.97%
Number of Units
22
Price/Unit
$227,273
Price/Gross SF
$427.20
Gross SF
11,704

Investment Overview

Listed at a 4.97% cap rate, Hillcrest Senior Condominiums offers an outstanding investment opportunity for investors seeking a stable income stream, rental upside, a quality location, in-place capital expenditure reserves and the numerous advantages that come from being able to sell off individually parceled units. Additionally, an investor will reap the immediate benefit of the community Association’s recently approved, massive special assessment that is slated to infuse its reserves with the addition of over $630,000 to cover the costs of common area maintenance and upgrades that will modernize its hallways, interior lighting and other common areas. Built in 1992, the offering consists of twenty-two 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. All of the units provide central air conditioning and heating, gas ranges, microwave ovens, dishwashers and large private balconies or patios. Most of the units have either hillside views or views of the neighboring Lions Field sports complex and Hillside Park.

Investment Highlights

  • The Hillcrest Senior Condominium Association Recently Approved a Massive Reserve Funding for Common Area Renovations and Upgrades
  • 4.97% Current Cap Rate, 12.20 Current GRM
  • 22 Individually Parceled Condominium Units - Age 55+
  • Substantial Rental Demand for Affordable Senior Housing
  • 100% Occupied
  • Outstanding Location Across from Lions Field and Hillside Park. Short Distance to Historic Downtown Fullerton, St. Jude Medical Center and Hillcrest Park Shopping Center

Exclusively Listed By

Multifamily

Hillcrest Senior Condominums

Listing Price: $5,000,000

Cap Rate
4.97%
Number of Units
22
Price/Unit
$227,273
Price/Gross SF
$427.20
Gross SF
11,704

Investment Highlights

  • The Hillcrest Senior Condominium Association Recently Approved a Massive Reserve Funding for Common Area Renovations and Upgrades
  • 4.97% Current Cap Rate, 12.20 Current GRM
  • 22 Individually Parceled Condominium Units - Age 55+
  • Substantial Rental Demand for Affordable Senior Housing
  • 100% Occupied
  • Outstanding Location Across from Lions Field and Hillside Park. Short Distance to Historic Downtown Fullerton, St. Jude Medical Center and Hillcrest Park Shopping Center

Investment Overview

Listed at a 4.97% cap rate, Hillcrest Senior Condominiums offers an outstanding investment opportunity for investors seeking a stable income stream, rental upside, a quality location, in-place capital expenditure reserves and the numerous advantages that come from being able to sell off individually parceled units. Additionally, an investor will reap the immediate benefit of the community Association’s recently approved, massive special assessment that is slated to infuse its reserves with the addition of over $630,000 to cover the costs of common area maintenance and upgrades that will modernize its hallways, interior lighting and other common areas. Built in 1992, the offering consists of twenty-two 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. All of the units provide central air conditioning and heating, gas ranges, microwave ovens, dishwashers and large private balconies or patios. Most of the units have either hillside views or views of the neighboring Lions Field sports complex and Hillside Park.

Exclusively Listed By

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