Description

This is a rare offering of a single-story duplex apartment building with a great location! This property is literally Brea-adjacent. The side yard fence is at the city limit with the city of Brea. Yorba Linda is less than one-half mile to the east. Brea Union Plaza is one-half mile to the west. Imperial Highway is a quarter-mile north and the Orange (57) Freeway. Brea Mall are less than two miles to the west. California State University, Fullerton is approximately two and one-half miles to the west. The spacious three-bedroom/one and three-quarter bath units are each 1,291 square feet in size. Each unit has an enclosed two-car garage. Because the property is at the end of a cul-de-sac street, there is a large concrete driveway apron with four additional off-street parking spaces. The units each feature air conditioning, vaulted living room ceilings, fireplaces and private patios and yards. Water, gas, and electricity are separately metered and paid by the tenants. Landscape costs are paid by the tenant. The highly-rated Golden Elementary School is within a short walk. Because these units are so spacious and well-located, there is rarely a vacancy. The units are rented on a month-to-month basis. This property would also make a great residence for a two-generational family or would be perfect for purchase by two parties who wish to own a property and occupy one or both units. Rents are low--projected market rental rate is $3,500/month per unit, which would result in a GRM of 17.3 and a capitalization rate of 3.69%.