111 South Flower Avenue is an 18-unit multifamily investment property located in Brea, California. The property offers a diverse mix consisting of 5, studio units, 6, one-bedroom units, 6, two-bedroom units, and 1, three-bedroom unit. Residents enjoy the property’s amenities including ample garage and surface parking, an on-site laundry facility, and private patios (first-floor units). Current ownership has invested significant capital into unit and property improvements, and has stabilized the asset with in-place rents near market rental rates. Improvements include fresh paint, vinyl flooring, quartz countertops, shaker-style cabinetry, recessed lighting, and more. 111 South Flower Street is situated in an optimal Brea location, within walking distance of a plethora of retail, dining, and entertainment options at Brea Downtown, Brea Gateway, Brea Marketplace, and the Brea Mall. Furthermore, 111 South Flower Street benefits from its proximity, within 2.50 miles, to California State University Fullerton (CSUF), a major economic and housing driver for the area. Th property offers convenient access to Imperial Highway and State Route 57, connecting residents to regional employment hubs throughout Southern California. Given its optimal Brea location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued success at 111 South Flower Street.
Sold for $6,675,000 on 09/24/24
Listing Provided by:
Tyler Leeson DRE #01451551 714-713-9086,
Marcus & Millichap RE Invest
Bought with: T.N.G. Real Estate Consultants
$6,675,000
111 S Flower Ave, Brea, CA 92821
21beds
26baths
12,246sqft
Multi Family
Built in 1980
-- sqft lot
$-- Zestimate®
$545/sqft
$2,774 Estimated rent
Owner options
What's special
Zillow last checked: 8 hours ago
Listing updated: December 04, 2024 at 06:35pm
Listing Provided by:
Tyler Leeson DRE #01451551 714-713-9086,
Marcus & Millichap RE Invest
Bought with:
Kendyl Herman, DRE #01934366
T.N.G. Real Estate Consultants
Source: CRMLS,MLS#: OC24096565
Originating MLS: California Regional MLS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 21
- Bathrooms: 26
Appliances
- Laundry: Common Area
Features
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 12,246
- Total interior livable area: 12,246 sqft
Property
Parking
- Total spaces: 31
- Parking features: Garage
- Garage spaces: 16
- Uncovered spaces: 15
Features
- Levels: Two
- Stories: 2
- Entry location: First level
- Pool features: None
Lot
- Size: 0.49 Acres
- Features: Street Level
Details
- Parcel number: 31928324
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- New construction: No
- Year built: 1980
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Community
- Community features: Curbs, Gutter(s), Sidewalks
Location
- Region: Brea
- Subdivision: Town Brea Tract
Other
Other facts
- Listing terms: Cash,Cash to New Loan,1031 Exchange