7361 Artesia Blvd
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7361 Artesia Blvd
8 Unit Apartment Building $2,900,000 ($362,500/Unit) 4.32% Cap Rate Buena Park, CA 90621
Investment Highlights
- Highly Desirable Mix (75% Two-Bedroom Units) | Oversized Parcel with Spacious Common Area Yards
- Select Units Feature Patios or Yards | SB-721 Repair Work Completed
- Building Recently Tented & Wood Siding Replaced
- Ample Garage, Carport, & Surface Parking | Offers an On-Site Laundry Facility
- New Gas Line & Water Heater Installed
- One Mile from The Source OC | Easy Access to Interstate 5 and State Route 91
Executive Summary
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 7361 Artesia Boulevard, an 8-unit multifamily investment property located in Buena Park, California.
The property offers a mix consisting of one and two-bedroom units with interiors featuring vinyl, tile, and carpet flooring, quartz countertops, recessed lighting, ceiling fans, and more. Residents enjoy amenities including security doors, a spacious common area backyard, and ample parking.
7361 Artesia Boulevard is located within 1 mile of the intersection of Beach Boulevard and Malvern Avenue, a bustling retail corridor home to several neighborhood retail centers. Additionally, the property is just over 1 mile from The Source OC, a modern shopping mall granting residents easy access to a wide variety of retail, dining, and entertainment options. Furthermore, 7361 Artesia Boulevard benefits from its proximity, just under 2 miles, to Knott’s Berry Farm, the city’s top employer with over 4,000 employees per Buena Park’s 2023 Annual Comprehensive Financial Report. Residents enjoy the property’s close proximity to State Route 91 and Interstate 5, providing convenient access to major regional employment hubs throughout Southern California.
The Buena Park submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 97.6 percent (Q1 2024) and average year-over-year effective rent increase of 4.2 percent (2023), demonstrating the strong demand for rental housing. Buena Park’s optimal North Orange County location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets.
Given the strength of the overall apartment market within the city of Buena Park, the property offers an investor the ability to capture quality tenants seeking a convenient location with 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 at 7361 Artesia Boulevard.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
The property offers a mix consisting of one and two-bedroom units with interiors featuring vinyl, tile, and carpet flooring, quartz countertops, recessed lighting, ceiling fans, and more. Residents enjoy amenities including security doors, a spacious common area backyard, and ample parking.
7361 Artesia Boulevard is located within 1 mile of the intersection of Beach Boulevard and Malvern Avenue, a bustling retail corridor home to several neighborhood retail centers. Additionally, the property is just over 1 mile from The Source OC, a modern shopping mall granting residents easy access to a wide variety of retail, dining, and entertainment options. Furthermore, 7361 Artesia Boulevard benefits from its proximity, just under 2 miles, to Knott’s Berry Farm, the city’s top employer with over 4,000 employees per Buena Park’s 2023 Annual Comprehensive Financial Report. Residents enjoy the property’s close proximity to State Route 91 and Interstate 5, providing convenient access to major regional employment hubs throughout Southern California.
The Buena Park submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 97.6 percent (Q1 2024) and average year-over-year effective rent increase of 4.2 percent (2023), demonstrating the strong demand for rental housing. Buena Park’s optimal North Orange County location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets.
Given the strength of the overall apartment market within the city of Buena Park, the property offers an investor the ability to capture quality tenants seeking a convenient location with 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 at 7361 Artesia Boulevard.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$191,040
|
$27.16
|
| Other Income |
$2,232
|
$0.32
|
| Vacancy Loss |
$5,731
|
$0.81
|
| Effective Gross Income |
$187,541
|
$26.66
|
| Taxes |
$31,352
|
$4.46
|
| Operating Expenses |
$30,972
|
$4.40
|
| Total Expenses |
$62,324
|
$8.86
|
| Net Operating Income |
$125,217
|
$17.80
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $191,040 |
| Annual Per SF | $27.16 |
| Other Income | |
|---|---|
| Annual | $2,232 |
| Annual Per SF | $0.32 |
| Vacancy Loss | |
|---|---|
| Annual | $5,731 |
| Annual Per SF | $0.81 |
| Effective Gross Income | |
|---|---|
| Annual | $187,541 |
| Annual Per SF | $26.66 |
| Taxes | |
|---|---|
| Annual | $31,352 |
| Annual Per SF | $4.46 |
| Operating Expenses | |
|---|---|
| Annual | $30,972 |
| Annual Per SF | $4.40 |
| Total Expenses | |
|---|---|
| Annual | $62,324 |
| Annual Per SF | $8.86 |
| Net Operating Income | |
|---|---|
| Annual | $125,217 |
| Annual Per SF | $17.80 |
Property Facts
| Price | $2,900,000 | Apartment Style | Low Rise |
| Price Per Unit | $362,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.38 AC |
| Cap Rate | 4.32% | Building Size | 7,034 SF |
| Gross Rent Multiplier | 15 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1974 |
| Property Type | Multifamily | Parking Ratio | 2.7/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,900,000 |
| Price Per Unit | $362,500 |
| Sale Type | Investment |
| Cap Rate | 4.32% |
| Gross Rent Multiplier | 15 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 7,034 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 2.7/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Kitchen
- Tub/Shower
- Patio
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 725 |
| 2+1 | 6 | - | 865 |
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PROPERTY TAXES
| Parcel Number | 066-112-27 | Total Assessment | $1,762,888 (2023) |
| Land Assessment | $1,179,190 (2023) | Annual Taxes | $31,352 ($4.46/SF) |
| Improvements Assessment | $583,698 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
066-112-27
Land Assessment
$1,179,190 (2023)
Improvements Assessment
$583,698 (2023)
Total Assessment
$1,762,888 (2023)
Annual Taxes
$31,352 ($4.46/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | RM16, Buena Park |
| RM16, Buena Park |
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Tyler Leeson -
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Christian Tait -
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