8342-8402 Westminster Boulevard
- Attractive Unit Mix of One- & Two-Bedroom Floor Plans
- Four Contiguous Parcels (20 Units Each)
- Value-Add Opportunity with Significant Rental Upside
- Prime Westminster Location Near Liberty Park & City Hall
- Phenomenal Visibility Along the City's Main Thoroughfare
Property Description
Morgan Skenderian is pleased to present the Westminster Apartments, a portfolio of 80 apartment units laid out over (4) contiguous parcels of land (20 units each). Built in 1963, the property is comprised of one- and two-bedroom floor plans. Property amenities include laundry facilities, an expansive courtyard and an open parking lot at the rear of the property. Newly renovated units offer new hardwood flooring, new granite countertops, new gas range/oven, custom hardwood cabinetry, custom tiled walls in the bathrooms, oversized vanities, gas heaters and ceiling fans. Through the continued modernization of the remaining units and increases on current rent levels that are projected to be nearly ±37% below market, the Westminster Apartments is a stand-out for a long-term hold strategy with phenomenal growth potential and exceptional future cash-on-cash returns. Ideally located in the city of Westminster and given its close proximity to Huntington Beach, Seal Beach, Garden Grove, and Fountain Valley, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located near Highway 39 (Beach Boulevard), State Route 22 (Garden Grove Freeway) and State Route 405 (San Diego Freeway), allowing for ease of access to regional employment hubs in Los Angeles and Orange Counties.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $21,600,000 |
| No. of Units: | 80 |
| Year Built: | 1963 |
| Lot Size: | 1.84 Acres |
| Opportunity Zone: | No |
| Price per unit: | $270,000 |
| Property Website | Click Here |
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