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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$4,400,000

Est. payment - /mo

20 Beds

14 Baths

11,137 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 11,137 sqft

Price per Sqft $395

MLS Listing ID 26996381

Bedrooms 20

HOA Y/N No

Year Built 1960

Lot Size 0.386 Acres

Property Description

Ravenwood Arms presents a rare opportunity to acquire a 14 unit multifamily property in a highly desirable Orange County rental market. Ideally situated near major Southern California destinations, the property offers convenient access to Knott's Berry Farm, Disneyland Resort, shopping centers, restaurants, and everyday conveniences, supporting strong long-term rental demand. The property is centrally located with easy access to major freeways, including the 22, 405, 5, and 55, providing residents with convenient connectivity throughout Orange County and the greater Los Angeles area. The location also boasts a Walk Score of 81/100, with dining, groceries, shopping, and other daily necessities accessible on foot. Originally constructed in 1960, The Ravenwood Arms features an attractive unit mix consisting of six spacious 2 bedroom/1 bathroom apartments and eight 1 bedroom/1 bathroom units. Unit 1 (2Bd/1Ba), as listed on the rent roll, is expected to become vacant in December 2026. A potential market rent of $2,500 has been indicated for the unit. A key component of the investment opportunity is the property's significant rental upside. Current rents are approximately 38% below projected market rents, providing investors with an opportunity to increase rental income and grow property cash flow through the continued implementation of a value-add strategy. Each apartment is individually metered for electricity and gas, while water is master metered. Community amenities include a well-maintained swimming pool and a shared laundry room. The property has benefited from several recent capital improvements, including replacement of decking, stairs, and railings; newer doors and windows; and resealing of the blacktop parking area. The property provides 14 uncovered assigned parking spaces at the rear of the building along with ample nearby street parking. With its desirable Orange County location, functional unit mix, recent property improvements, and access to major employment and entertainment destinations, Ravenwood Arms offers an attractive opportunity for investors seeking a value-add strategy or a long-term multifamily hold.

Location

State CA

County Orange

Area 66 - N Of Blsa, S Of Ggrv, E Of Brookhrst, W Of Ha

Interior

Fireplace No

Laundry Common Area

Exterior

Parking Features Uncovered

Pool In Ground

Total Parking Spaces 14

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 09908251

Special Listing Condition Standard

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Listed by Sean Riley CB Richard Ellis, Inc. #01920511

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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California 92625, USA

13211 Nelson ST Garden Grove, CA 92843

Ernie Caponera

Key Details

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Interior

Exterior

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Others

Nearby Locations

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13211 Nelson ST