13800 Milton Avenue, Westminster, CA 92683

$4,850,000
List Price
$4,850,000
Price Change
▼ $1,000,000 1623113620
Status
ACTIVE
MLS#
PW21095883
Year Built
2021
Lot Size
43,996
Acres
1.01
Lot Location
Item2125UnitsAcre, LotOver40000Sqft
Days on Market
79
Property Type
Multifamily
Stories
One Level
Neighborhood
Other (Othr)

Property Description

$1,000,000 PRICE REDUCTION. A rare opportunity to acquire a medium sized, “permit ready” entitled multi-residential development opportunity. The proposed 24 unit apartment complex will have a unit mix of (7) 2 bedroom/2 bath units, (7) 2 bedroom/2.5 bath units, (6) 3 bedroom/2.5 bath units, and (4) 3 bedroom/3.5 bath units. All units will be townhouse style with attached garages and direct access from the garage into the units. The property is located within minutes of the 405 and 22 Freeways and is within walking distance to both Finely Elementary and Johnson Middle Schools. The development has been approved by the city council of Westminster and includes four affordable units under the California Density Bonus program. The existing property is comprised of 3 adjacent parcels totaling 44,643 sq.ft. Currently, there is one 3 bedroom home, a 2 bedroom home, a 1 bedroom unit and a studio unit. Monthly income is $7,060 and all tenants are month to month.

Additional Information

Pool Description
None
Garage Spaces Total
45
Sewer
Public Sewer
Water
Public
Number Of Units Total
24
Gross Scheduled Income
$808,500
Operating Expense
237319

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Grant Hahn from Morgan Skenderian

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.