Casa Andini is a 24-unit multifamily investment property located at 7531 Knott Avenue in Buena Park, CA. Situated on a 0.89-acre lot, Casa Andini offers 2, one-bedroom units and 22, two-bedroom units, each with a den. Residents enjoy the property’s amenities including surface, tuck-under, and carport parking, gated access, private patios or balconies, and on-site laundry. Buena Park’s strong rental metrics including a 2023 vacancy rate of just 2.2 percent and year-over-year rent growth of 4.2 percent are evidence of the substantial demand for rental units in the area. With current rents below market rates, Casa Andini represents an attractive value-add opportunity for a new owner to potentially achieve a substantial 25.8 percent increase in rental income. Casa Andini offers its residents an unparalleled Buena Park location, as the property is situated in close proximity to the city’s most popular attractions, retail centers, and major employers. Furthermore, Casa Andini is within 0.5 miles of Yamaha Corporation of America’s headquarters, a premier employer in the city as well as the site of a major redevelopment project. This excellent positioning surrounds the property with employment and housing drivers as residents are within walking distance of Buena Park’s top employers as well as a plethora of shops, restaurants, and entertainment venues. Given the property’s fantastic unit mix and attractive amenities as well as its unmatched location, Casa Andini is well suited to provide investors with strong returns over the long-term investment horizon.
Property Details
Price:
$9,500,000
MLS #:
OC24123564
Status:
Active
Baths:
0
Address:
7531 Knott Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
82buenapark
City:
Buena Park
Listed Date:
Jun 17, 2024
State:
CA
ZIP:
90620
Lot Size:
38,768 sqft / 0.89 acres (approx)
Year Built:
1973
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Schools
Interior
Exterior
Community Features
Curbs, Gutters, Sidewalks
Garage Spaces
0.00
Lot Features
Level with Street
Parking Spots
42.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Association Fee
0.00
Map
Community
- Address7531 Knott Avenue Buena Park CA
- Area82 – Buena Park
- CityBuena Park
- CountyOrange
- Zip Code90620
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Courtesy of Marcus & Millichap RE Invest. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
7531 Knott Avenue
Buena Park, CA
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