Sandlewood Apartments | 136 W Union Ave
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Sandlewood Apartments 136 W Union Ave
14 Unit Block of Flats £3,897,660 (£278,404/Unit) 4.77% Net Initial Yield Fullerton, CA 92832
Investment Highlights
- Highly Desirable Golden Hills Location in Fullerton
- 20% Rental Upside and Over a 6.00% Cap Rate on Market Rents
- ADU Potential
- Majority Large Two-Bedroom Units
- First Time on Market in Over 20 Years
- 14 Garage Parking Spaces
Executive Summary
The Sandlewood Apartments is a 14-unit apartment building located in the highly desirable Golden Hills neighborhood of Fullerton, CA. Built in 1957, the property consists of ten 2-bedroom units and four 1-bedroom units. Each unit is spacious and features a gas range top, oven, and wall heating. Some units have been recently upgraded to include faux wood floors. Select units include either a patio or balcony. Recently, all balconies and walkways have been upgraded and are now SB-721 compliant. Community amenities include garage parking, a laundry facility, and well maintained landscaping. The Sandlewood Apartments presents a savvy investor with the opportunity to acquire a well-located, income-producing asset, with a potential 20% upside in rent and over a 6% cap rate based on market rents.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£275,424
|
£22.61
|
| Other Income |
£13,723
|
£1.13
|
| Vacancy Loss |
£8,674
|
£0.71
|
| Effective Gross Income |
£280,473
|
£23.02
|
| Taxes |
£41,410
|
£3.40
|
| Operating Expenses |
£52,973
|
£4.35
|
| Total Expenses |
£94,383
|
£7.75
|
| Net Operating Income |
£186,090
|
£15.28
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £275,424 |
| Annual Per SF | £22.61 |
| Other Income | |
|---|---|
| Annual | £13,723 |
| Annual Per SF | £1.13 |
| Vacancy Loss | |
|---|---|
| Annual | £8,674 |
| Annual Per SF | £0.71 |
| Effective Gross Income | |
|---|---|
| Annual | £280,473 |
| Annual Per SF | £23.02 |
| Taxes | |
|---|---|
| Annual | £41,410 |
| Annual Per SF | £3.40 |
| Operating Expenses | |
|---|---|
| Annual | £52,973 |
| Annual Per SF | £4.35 |
| Total Expenses | |
|---|---|
| Annual | £94,383 |
| Annual Per SF | £7.75 |
| Net Operating Income | |
|---|---|
| Annual | £186,090 |
| Annual Per SF | £15.28 |
Property Facts
| Price | £3,897,660 | Apartment Style | Low Rise |
| Price Per Unit | £278,404 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Net Initial Yield | 4.77% | Building Size | 12,182 SF |
| Gross Rent Multiplier | 14.15 | Average Occupancy | 97% |
| No. Units | 14 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.56/1,000 SF |
| Price | £3,897,660 |
| Price Per Unit | £278,404 |
| Sale Type | Investment |
| Net Initial Yield | 4.77% |
| Gross Rent Multiplier | 14.15 |
| No. Units | 14 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 12,182 SF |
| Average Occupancy | 97% |
| Number of Floors | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.56/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 678 |
| 2+1 | 10 | - | 898 |
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Walk Score ®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 281-082-05 | Total Assessment | £2,098,641 |
| Land Assessment | £1,706,205 | Annual Taxes | £41,410 (£3.40/sf) |
| Improvements Assessment | £392,435 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
281-082-05
Land Assessment
£1,706,205
Improvements Assessment
£392,435
Total Assessment
£2,098,641
Annual Taxes
£41,410 (£3.40/sf)
Tax Year
2023
zoning
| Zoning Code | R2, Fullerton (Multifamily) |
| R2, Fullerton (Multifamily) |
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Sandlewood Apartments | 136 W Union Ave
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