We are pleased to present a 4 unit apartment building located in Huntington Beach, California. Built in 1966, the subject property consists of 4,404 rentable square feet spread throughout a 7,186 square foot lot. The unit mix consist of one 3 bedroom / 2 bath two 2 bedroom / 2 baths and one 2 bath 1 bedroom. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Huntington Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores. The Huntington Beach rental market is among the strongest performing areas in metro Orange County, with an average occupancy of 98.68 percent (2017) and average yearly effective rent growth of 5.60 percent (from 2014 to 2018), demonstrating the strong demand for rental housing. It is this demand, along with the execution of an interior and exterior renovation plan that should help a new owner see a substantial 27 percent increase in gross rental income. Given the strength of the overall apartment market within the city of Huntington Beach, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth.
Listing courtesy of Kevin King from Marcus & Millichap
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