123 South Lincoln Avenue

Description:

Lincoln Ave. continues to perform well following the completion of all planned interior and exterior capital improvements. The property is currently 100% occupied, reflecting strong tenant demand and successful operational execution. With renovations complete, the asset has transitioned from a value-add project into a stabilized, income-producing investment.

Leasing activity remains strong and continues to support rental growth. Effective May 1, 2026, a new two-bedroom, one-bath lease was signed at $2,450 per month, establishing a new market benchmark for the property and exceeding the current average in-place rent of $2,315 per month for comparable units. Management is actively working through lease renewals with rent increases, providing additional opportunities to grow revenue while maintaining high occupancy. Overall, the property remains well-positioned for continued operational stability and incremental NOI growth.

PROPERTY BENEFITS
▪ 12 units, built 1955 and renovated in 2023
▪ 100% occupied, approximately 8,400 SF
▪ Renovated interiors across multiple units
▪ Walking distance to CSUF campus
▪ Two-parcel offering with operational flexibility
▪ Upside on remaining classic units
▪ $4,900,000 price: $408,333/unit, 4.62% current cap rate, 5.25% pro forma cap rate

Offered directly by Ownership. Buyer's brokers welcome.