$1,900,000
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10622 Walnut ST Los Alamitos, CA 90720
7,697 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision ,N/A
MLS Listing ID PW24118105
Year Built 1988
Lot Size 7,697 Sqft
Property Description
This exclusive offering is a very rare opportunity to acquire an 80’s construction multifamily investment property in Los Alamitos. Located on the edge of Orange County, the small city boasts convenient proximity to beach cities, major freeways, schools, and outdoor recreation available nearby at the 642-acre El Dorado Park; furthermore, this affluent area has an average household income of over $159,000.
10622 Walnut Street is 4,350-square foot, two-story 1988 construction with a desirable mix of one two-bed/one-bath unit, two two-bed/one-and-one-half-bath townhomes, and one three-bed/two-bath townhome. The units feature spacious floor plans, fireplaces, private patios, and separate gas and electric meters. The three-bedroom townhome has in-unit washer/dryer hookups, the remaining units share on-site laundry, and the property also offers garage and surface parking.
The building has been well-maintained and offers a new investor a substantial 59 percent rental upside and the potential to develop two ADU’s (buyer to verify). As of writing, 10622 Walnut Street is the only multifamily investment property on market in Los Alamitos, making this a truly outstanding value-add acquisition opportunity.
Location
State CA
County Orange
Area 52 - Los Alamitos
Interior
Laundry Common Area, See Remarks
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Suburban
Building
Lot Description Corner Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Bought with Elizabeth Thamer • Pacific Sotheby's Int'l Realty