Neighborhood: 60 - Westminster South Of Westminster, W Of Beach, Other (othr)
The 15th st. Apartments offers an astute investor the opportunity to acquire a Value Add property with over 30% in rental upside. The asset exterior has been extensively renovated, interiors are primed for a full rehabilitation. Situated in the Westminster Civic Center just a block from the City Library and Police department, the complex has an incredible walk score of 86! Conservative market rents put the pro-forma CAP Rate at almost 6%. 15th St. Apartments stands as the lowest priced per unit majority 2 bedroom asset on the market in all of Orange County. Further, the property will be delivered with a BRAND NEW roof and electrical panels.