119-135 S Fahrion Pl
- Four Contiguous 8-Unit Apartment Buildings Require No On-Site Manager and Shared Common Courtyards
- 31% Rental Upside By Installing In-Unit Washer/Dryers and Further Upside Can Be Captured by Implementing a RUBS program
- Well-Located with Proximity to 91, 57 and 5 Freeways Allow Easy Access to the Greater Orange County Area
- Separately Metered for Gas & Electricity
- Multiple On-Site Laundry Rooms for Tenant Convenience
- Recent Exterior Building and Landscaping Improvements
Property Description
The Courtyard Apartments is a 32-unit apartment property offering a rare opportunity to acquire a sizeable multifamily asset comprised of four separate, but contiguous 8-unit buildings. Built in 1959, the property features a clean and efficient unit mix of all one-bedroom, one-bathroom units, making it well-positioned to serve a broad renter base seeking functional and affordable apartment living. The two-story buildings are improved with pitched roofs, providing both architectural character and long-term ownership appeal. The property also benefits from 32 open surface parking spaces, offering one parking space per units, in addition to ample street parking due to the surrounding lower-density neighborhood. This parking availability is a meaningful advantage for residents and enhances the overall tenant experience. A key operational feature of The Courtyard Apartments is the existing on-site laundry facilities, which provides residents with added convenience while creating an additional income stream for ownership. Further upside exists through the existing washer and dryer hookups already located inside each unit, allowing a new owner the potential to implement in-unit laundry options over time to further enhance tenant appeal and support future rent growth. With its desirable all one-bedroom unit mix, four contiguous 8-unit buildings, ample parking, pitched roofs, on-site laundry, and additional operational upside through existing in-unit washer and dryer hookups, The Courtyard Apartments represents a compelling investment opportunity with strong fundamentals and meaningful value-add potential.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $8,750,000 |
| No. of Units: | 32 |
| Year Built: | 1959 |
| Lot Size: | 0.73 Acres |
| Opportunity Zone: | No |
| Price per unit: | $273,438 |
| Property Website | Click Here |
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