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$21,900,000
Est. payment /mo
5 Beds
4 Baths
2.76 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26230847
Bedrooms 5
Lot Size 2.760 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present the Mora Kai Apartment Homes, located at 18881 Mora Kai Lane. This 42-unit multifamily investment opportunity is located in Huntington Beach. Built in 1964, the garden-style community totals approximately 46,060 rentable square feet on a 2.76-acre lot. The property offers a desirable unit mix of 22 single-story two-bedroom / two-bathroom flats averaging approximately 1,000 square feet and 20 three-bedroom / two-bathroom townhomes averaging approximately 1,203 square feet. Set along a quiet, low-density residential street with a single point of ingress and egress, the asset is a well-maintained, fee simple community with a stable tenant base and spacious, family-oriented floor plans that support long-term tenancy. Half (21) of the forty-two units have been renovated, leaving upside for a Buyer to increase the already high 5% current CAP rate even higher. Each residence includes a private patio and in-unit washer and dryer, and the flat units have no neighbors above or below. Landscaped courtyards and walkable pathways surround a central swimming pool and community building. Parking includes covered carports, garages, and uncovered spaces on site, supplemented by street parking along Mora Kai Lane, and rented storage spaces are available, providing additional ancillary income potential. The property is located in a premier Orange County coastal market, just east of Beach Boulevard and north of Garfield Avenue. Daily conveniences are within walking distance, including Trader Joe's, Target, Ralphs, Albertsons, CVS, and Home Depot, along with a wide sel
Location
State CA
County Orange
Zoning Assessor
Direction From Beach Boulevard, head east on Garfield Avenue. Turn left onto Mora Kai Lane. The property is located on the right
Interior
Fireplace No
Exterior
Pool Community/Common
View Y/N No
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 15740235
Acceptable Financing Cash
Listing Terms Cash
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Listed by Mark Bridge, DRE#01316702 Mark Bridge, Broker
NEARBY SCHOOL & BUSINESS
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