Casa Andini | 7531 Knott Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Casa Andini 7531 Knott Ave
24 Unit Block of Flats £7,433,275 (£309,720/Unit) 4.17% Net Initial Yield Buena Park, CA 90620
Investment Highlights
- Attractive Unit Mix: 90+ Percent Two-Bedroom Floor Plans | All Units Feature a Den, a Highly Desirable Amenity for Renters
- Attractive Amenity Package Including Patios, Balconies, Surface & Carport Parking, & an On-Site Laundry Facility
- In Close Proximity to Buena Park’s Largest Employers
- Value-Add Opportunity: Substantial Rental Upside Achievable Through Unit Renovations
- Premier Buena Park Location Near Knott’s Berry Farm
- Convenient Access to State Route 91, Interstate 5, & Beach Boulevard
Executive Summary
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Casa Andini, a 24-unit multifamily investment property located at 7531 Knott Avenue in Buena Park, CA.
Situated on a 0.89-acre lot, Casa Andini offers 2, one-bedroom units and 22, two-bedroom units, each with a den. Residents enjoy the property’s amenities including surface, tuck-under, and carport parking, gated access, private patios or balconies, and on-site laundry.
Buena Park’s strong rental metrics including a 2023 vacancy rate of just 2.2 percent and year-over-year rent growth of 4.2 percent are evidence of the substantial demand for rental units in the area. With current rents below market rates, Casa Andini represents an attractive value-add opportunity for a new owner to potentially achieve a substantial 25.8 percent increase in rental income.
Casa Andini offers its residents an unparalleled Buena Park location, as the property is situated in close proximity to the city’s most popular attractions, retail centers, and major employers. Furthermore, Casa Andini is within 0.5 miles of Yamaha Corporation of America’s headquarters, a premier employer in the city as well as the site of a major redevelopment project. This excellent positioning surrounds the property with employment and housing drivers as residents are within walking distance of Buena Park’s top employers as well as a plethora of shops, restaurants, and entertainment venues.
Given the property’s fantastic unit mix and attractive amenities as well as its unmatched location, Casa Andini is well suited to provide investors with strong returns over the long-term investment horizon.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Situated on a 0.89-acre lot, Casa Andini offers 2, one-bedroom units and 22, two-bedroom units, each with a den. Residents enjoy the property’s amenities including surface, tuck-under, and carport parking, gated access, private patios or balconies, and on-site laundry.
Buena Park’s strong rental metrics including a 2023 vacancy rate of just 2.2 percent and year-over-year rent growth of 4.2 percent are evidence of the substantial demand for rental units in the area. With current rents below market rates, Casa Andini represents an attractive value-add opportunity for a new owner to potentially achieve a substantial 25.8 percent increase in rental income.
Casa Andini offers its residents an unparalleled Buena Park location, as the property is situated in close proximity to the city’s most popular attractions, retail centers, and major employers. Furthermore, Casa Andini is within 0.5 miles of Yamaha Corporation of America’s headquarters, a premier employer in the city as well as the site of a major redevelopment project. This excellent positioning surrounds the property with employment and housing drivers as residents are within walking distance of Buena Park’s top employers as well as a plethora of shops, restaurants, and entertainment venues.
Given the property’s fantastic unit mix and attractive amenities as well as its unmatched location, Casa Andini is well suited to provide investors with strong returns over the long-term investment horizon.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£491,124
|
£23.63
|
| Other Income |
£28,588
|
£1.38
|
| Vacancy Loss |
£14,734
|
£0.71
|
| Effective Gross Income |
£504,978
|
£24.30
|
| Taxes |
£81,917
|
£3.94
|
| Operating Expenses |
£112,951
|
£5.43
|
| Total Expenses |
£194,868
|
£9.38
|
| Net Operating Income |
£310,111
|
£14.92
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £491,124 |
| Annual Per SF | £23.63 |
| Other Income | |
|---|---|
| Annual | £28,588 |
| Annual Per SF | £1.38 |
| Vacancy Loss | |
|---|---|
| Annual | £14,734 |
| Annual Per SF | £0.71 |
| Effective Gross Income | |
|---|---|
| Annual | £504,978 |
| Annual Per SF | £24.30 |
| Taxes | |
|---|---|
| Annual | £81,917 |
| Annual Per SF | £3.94 |
| Operating Expenses | |
|---|---|
| Annual | £112,951 |
| Annual Per SF | £5.43 |
| Total Expenses | |
|---|---|
| Annual | £194,868 |
| Annual Per SF | £9.38 |
| Net Operating Income | |
|---|---|
| Annual | £310,111 |
| Annual Per SF | £14.92 |
Property Facts
| Price | £7,433,275 | Apartment Style | Garden |
| Price Per Unit | £309,720 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.89 AC |
| Net Initial Yield | 4.17% | Building Size | 20,784 SF |
| Gross Rent Multiplier | 14.3 | Number of Floors | 2 |
| No. Units | 24 | Year Built | 1973 |
| Property Type | Residential | Parking Ratio | 2.02/1,000 SF |
| Property Subtype | Apartment |
| Price | £7,433,275 |
| Price Per Unit | £309,720 |
| Sale Type | Investment |
| Net Initial Yield | 4.17% |
| Gross Rent Multiplier | 14.3 |
| No. Units | 24 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 20,784 SF |
| Number of Floors | 2 |
| Year Built | 1973 |
| Parking Ratio | 2.02/1,000 SF |
Unit Amenities
- Balcony
- Den
- Patio
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 690 |
| 2+1.5 | 22 | - | 882 |
1 of 1
PROPERTY TAXES
| Parcel Number | 263-491-10 | Total Assessment | £6,045,335 |
| Land Assessment | £5,166,912 | Annual Taxes | £81,917 (£3.94/sf) |
| Improvements Assessment | £878,423 | Tax Year | 2023 Payable 2023 |
PROPERTY TAXES
Parcel Number
263-491-10
Land Assessment
£5,166,912
Improvements Assessment
£878,423
Total Assessment
£6,045,335
Annual Taxes
£81,917 (£3.94/sf)
Tax Year
2023 Payable 2023
zoning
| Zoning Code | RM-20, Buena Park |
| RM-20, Buena Park |
1 of 17
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Casa Andini | 7531 Knott Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.