16972 Lynn Ln
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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.
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 | Apartment Style | Low Rise |
Price Per Unit | $470,714 | Building Class | C |
Sale Type | Investment | Lot Size | 0.19 AC |
Cap Rate | 3.96% | Building Size | 8,458 SF |
Gross Rent Multiplier | 17.54 | Average Occupancy | 100% |
No. Units | 7 | No. Stories | 2 |
Property Type | Multifamily | Year Built/Renovated | 1976/2024 |
Property Subtype | Apartment | Parking Ratio | 1.42/1,000 SF |
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 |
1 of 1
Walk Score ®
Very Walkable (74)
PROPERTY TAXES
Parcel Number | 178-261-08 | Improvements Assessment | $302,702 |
Land Assessment | $2,119,798 | Total Assessment | $2,422,500 |
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) |
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