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16972 Lynn Ln

7 Unit Apartment Building $3,295,000 ($470,714/Unit) 3.96% Cap Rate Huntington Beach, CA 92649

Investment Highlights

  • Substantial Interior & Exterior Renovations: All New Hardwood Floors, Kitchen Cabinets, Bathroom Tile Flooring, Interior Paint, and Windows
  • 6 Individual Garages, 6 Open Assigned Parking & Street Parking!
  • New Roof Installed in February 2020
  • Excellent Pride of Ownership & Turn-Key Investment Opportunity

Executive Summary

Cushman & Wakefield is pleased to present 16972 Lynn Lane located in beautiful Huntington Beach, CA. Built in 1976, this garden style two story walkup is well-located in a highly desirable Coastal location of Huntington Harbor. The asset has great curb appeal with nice landscaping, including well-maintained trees and other greenery. The property has an excellent unit mix of one 2 bed / 1 bath, five 1 bed / 1 bath units and a studio apartment. All units have all been renovated with new hardwood floors, new kitchen cabinets, new bathroom tile flooring, and new interior paint. Additional building upgrades include a new roof installed in February 2020, and new windows and exterior paint. The property has ample parking, including six secure single car garages, six assigned on-site spaces, and additional open street parking. The tenants enjoy a clean, on-site community laundry room, and each unit is separately metered for gas and electric.
A key driver in the desirability of this asset is its prime Huntington Beach coastal location, just a mile away from the beach. Within 0.25 miles of the asset includes a Trader Joe’s, Bank of America, Chase Bank, and the Huntington Harbor Medical Center. The property is also conveniently located a mile from Huntington Harbor, Bolsa Chica State Beach, Sunset Beach, and Pacific Coast Highway.

Financial Summary (Actual - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Net Operating Income - -

Financial Summary (Actual - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual -
Annual Per SF -

Property Facts

Price $3,295,000
Price Per Unit $470,714
Sale Type Investment
Cap Rate 3.96%
Gross Rent Multiplier 17.54
No. Units 7
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.19 AC
Building Size 8,458 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1976/2024
Parking Ratio 1.42/1,000 SF

Unit Amenities

  • Balcony
  • Cable Ready
  • Disposal
  • Microwave
  • Heating
  • Ceiling Fans
  • Kitchen
  • Granite Countertops
  • Hardwood Floors
  • Range
  • Tub/Shower
  • Dining Room
  • Double Pane Windows
  • Family Room
  • Patio
  • Vinyl Flooring

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 1 - 344
1+1 5 - 700
2+1 1 - 826
Walk Score ®
Very Walkable (74)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
178-261-08
Land Assessment
$2,119,798
Improvements Assessment
$302,702
Total Assessment
$2,422,500

zoning

Zoning Code R2 (Multifamily)
R2 (Multifamily)
  • Listing ID: 34386702

  • Date on Market: 1/6/2025

  • Last Updated:

  • Address: 16972 Lynn Ln, Huntington Beach, CA 92649

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