111 S Flower Avenue
Brea, CA, 92821 $ 6,750,000
Bedrooms21 Baths6.1 Sq 12,246 Monthly Estimate*
$ 44,863
Listed by Marcus & Millichap RE Invest
for $6,750,000 with 21 bedrooms and 6 full baths, 1 half bath. This 12,246 square foot home was built in 1980 on a lot size of 0.49.
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.
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FeaturesGeneralSewer PublicSewer
HOA 0.0
Garage Spaces 16.0
Pool Features None
Year Built 1980
Stories 2
Levels Two
Property SubType Apartment
Gross Income 491288.0
Community Features Curbs Gutters Sidewalks
County Orange
Net Operating Income 303923.0
Operating Expense 172759.0
Insurance Expense 12600.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Subdivision Name Town Brea Tract
Garage Y/N Y
Special Listing Conditions Standard
Status ActiveUnderContract
Directions Cross Streets of South Flower Avenue & East Birch Street
City Brea
Entry Location First level
View Y/N N
Senior Community Y/N N
Open Parking Spaces 15.0
Total Units 18
MLS Area 86 - Brea
Lot Size Square Feet 21344.4
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Flower
Listing Terms Cash CashtoNewLoan Item1031Exchange
Property Attached Y/N N
Land Lease Y/N N
Electric Expense 5520.0
Home Warranty Y/N N
Fuel Expense 5520.0
Trash Expense 5520.0
Water Sewer Expense 5520.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 11
Building Area Units SquareFeet
Standard Status ActiveUnderContract
Year Built Source Assessor
Tax Lot 2
Property Sub Type Additional Apartment
Taxes 73415.0
Cap Rate 4.5
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ExteriorLot Features StreetLevel
Water Source Public
Total Parking 31.0
Lot Size Area 0.49
Number of Buildings 1
Spa N
Building Area Total 12246.0
Lot Size Acres 0.49
Lot Size Units Acres
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 18
Number of Separate Electric Meters 18
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 2
Common Walls NoCommonWalls
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Avenue
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesList ByMarcus & Millichap Re InvestBroker
Affordability Calculator
- Monthly Principal & Interest
- $44,863
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Brea, CA
Average List Price $6,750,000
Percent of Sale Price 0%
About Brea, CA 44,506 Population
23% Since 2002
$ 88,538 Median Income
40.44 Median Age
33% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/14/2024 | $6,750,000 | | Listed Price |
111 S Flower Avenue, Brea, CA, 92821 is a Multi-Family Home for sale at $6,750,000 with 12,246 sqft and a lot size of 0.49. 111 S Flower Avenue has 21 bedrooms, 6.1 baths, and was built in 1980. The property's zip code is 92821 which is in Brea, CA