128 E Wakefield Ave
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128 E Wakefield Ave
7 Unit Apartment Building $2,565,000 ($366,429/Unit) 5.50% Cap Rate Anaheim, CA 92802
INVESTMENT HIGHLIGHTS
- Unique Turnkey Investment Opportunity | All Units Feature Attractive Interior Renovations
- Offers a Mix of (4) One-Bedroom & (3) Two-Bedroom Units
- In Close Proximity to an Abundance of Retailers & Restaurants
- Freshly Painted Exterior & Newly Upgraded Fencing
- Near Orange County’s Most Popular Destinations & Top Employers
- Convenient Access to Major Orange County Employers Located in the Anaheim Resort District & the Platinum Triangle
EXECUTIVE SUMMARY
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 128 East Wakefield Avenue, a 7-unit multifamily investment property located in Anaheim, California.
Built in 1961, 128 East Wakefield Avenue offers a desirable mix of one and two-bedroom floor plans. In 2024 current ownership invested significant capital into improvements to the property’s exterior and unit interiors. Exterior upgrades include fresh paint, newly installed fencing, and an updated mailbox, while the units received upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, and more (see Offering Memorandum). The property offers desirable amenities including a gated common area courtyard, an on-site laundry facility, security doors, and ample garage parking.
128 East Wakefield Avenue benefits from its optimal Anaheim location, situated within one mile of Disneyland and Downtown Disney (see Offering Memorandum). The property is located adjacent to part of the recently approved DisneylandForward project, a $1.9 billion plan to expand Disneyland’s footprint by adding new hotels, retail, and attractions to its existing 100-acre plus site. Additionally, 128 East Wakefield Avenue is located within one mile of the Anaheim GardenWalk, providing residents with convenient access to a plethora of retail, dining, and entertainment options (see Offering Memorandum). The property is situated adjacent to the Platinum Triangle, an ongoing urban, business, and entertainment development that’s home to Angel Stadium, The Honda Center, and The Grove of Anaheim. Furthermore, 128 East Wakefield Avenue provides residents with convenient access to Interstate 5, State Route 57, and the Anaheim Regional Transportation Intermodal Center (ARTIC), connecting residents to employment hubs throughout Orange and Los Angeles Counties.
With high quality property and unit upgrades, 128 East Wakefield represents a unique opportunity to acquire a renovated property in the direct vicinity of Disneyland and other major Anaheim area destinations.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Built in 1961, 128 East Wakefield Avenue offers a desirable mix of one and two-bedroom floor plans. In 2024 current ownership invested significant capital into improvements to the property’s exterior and unit interiors. Exterior upgrades include fresh paint, newly installed fencing, and an updated mailbox, while the units received upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, and more (see Offering Memorandum). The property offers desirable amenities including a gated common area courtyard, an on-site laundry facility, security doors, and ample garage parking.
128 East Wakefield Avenue benefits from its optimal Anaheim location, situated within one mile of Disneyland and Downtown Disney (see Offering Memorandum). The property is located adjacent to part of the recently approved DisneylandForward project, a $1.9 billion plan to expand Disneyland’s footprint by adding new hotels, retail, and attractions to its existing 100-acre plus site. Additionally, 128 East Wakefield Avenue is located within one mile of the Anaheim GardenWalk, providing residents with convenient access to a plethora of retail, dining, and entertainment options (see Offering Memorandum). The property is situated adjacent to the Platinum Triangle, an ongoing urban, business, and entertainment development that’s home to Angel Stadium, The Honda Center, and The Grove of Anaheim. Furthermore, 128 East Wakefield Avenue provides residents with convenient access to Interstate 5, State Route 57, and the Anaheim Regional Transportation Intermodal Center (ARTIC), connecting residents to employment hubs throughout Orange and Los Angeles Counties.
With high quality property and unit upgrades, 128 East Wakefield represents a unique opportunity to acquire a renovated property in the direct vicinity of Disneyland and other major Anaheim area destinations.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$199,800
|
$37.48
|
| Other Income |
$3,700
|
$0.69
|
| Vacancy Loss |
$5,994
|
$1.12
|
| Effective Gross Income |
$197,506
|
$37.05
|
| Taxes |
$28,193
|
$5.29
|
| Operating Expenses |
$27,212
|
$5.10
|
| Total Expenses |
$55,405
|
$10.39
|
| Net Operating Income |
$142,101
|
$26.66
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $199,800 |
| Annual Per SF | $37.48 |
| Other Income | |
|---|---|
| Annual | $3,700 |
| Annual Per SF | $0.69 |
| Vacancy Loss | |
|---|---|
| Annual | $5,994 |
| Annual Per SF | $1.12 |
| Effective Gross Income | |
|---|---|
| Annual | $197,506 |
| Annual Per SF | $37.05 |
| Taxes | |
|---|---|
| Annual | $28,193 |
| Annual Per SF | $5.29 |
| Operating Expenses | |
|---|---|
| Annual | $27,212 |
| Annual Per SF | $5.10 |
| Total Expenses | |
|---|---|
| Annual | $55,405 |
| Annual Per SF | $10.39 |
| Net Operating Income | |
|---|---|
| Annual | $142,101 |
| Annual Per SF | $26.66 |
PROPERTY FACTS Under Contract
| Price | $2,565,000 | Apartment Style | Low Rise |
| Price Per Unit | $366,429 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.50% | Building Size | 5,331 SF |
| Gross Rent Multiplier | 12.6 | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1961/2024 |
| Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,565,000 |
| Price Per Unit | $366,429 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 12.6 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 5,331 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2024 |
| Parking Ratio | 1.5/1,000 SF |
UNIT AMENITIES
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Vinyl Flooring
- Quartz Countertops
SITE AMENITIES
- Controlled Access
- Courtyard
- Fenced Lot
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 675 |
| 2+1 | 3 | - | 877 - 880 |
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Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 137-342-04 | Total Assessment | $795,756 (2024) |
| Land Assessment | $539,781 (2024) | Annual Taxes | $28,193 ($5.29/SF) |
| Improvements Assessment | $255,975 (2024) | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
137-342-04
Land Assessment
$539,781 (2024)
Improvements Assessment
$255,975 (2024)
Total Assessment
$795,756 (2024)
Annual Taxes
$28,193 ($5.29/SF)
Tax Year
2025 Payable 2025
ZONING
| Zoning Code | 2-MFD |
| 2-MFD |
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128 E Wakefield Ave
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