Wakefield Apartments

Highlights:

• Prime Anaheim Location: Ideally situated near top attractions like Disneyland Resort and Anaheim Convention Center, offering residents easy access to premier shopping, dining, and entertainment. The property benefits from Anaheim’s tourism economy and proximity to major destinations.
• Extensive Recent Renovations: Completed in 2021-2022, the property underwent a comprehensive remodel, including a new roof, double-pane windows, exterior paint, updated copper plumbing, and modern AC units, providing a fresh, low-maintenance appeal.
• Spacious, Modern Interiors: All six units boast large, thoughtfully designed floor plans, with configurations of 3 to 5 bedrooms, each updated with new flooring, interior paint, ceiling fans, and quality fixtures.
• High-Quality Finishes: Kitchens and bathrooms have been fully upgraded with granite countertops, new vanities, stainless steel appliances (refrigerator, range, microwave, dishwasher), new toilets, bathtubs, and even in-unit washers and dryers, enhancing appeal for tenants.
• On-Site Parking: Each unit includes an enclosed garage space located at the rear of the building, providing added convenience and security for residents.
• Investment Potential: With a 5% cap rate, strong occupancy, and potential for rent increases, this turnkey property presents an excellent opportunity for consistent cash flow and long-term growth in a high-demand rental market.

Description:

Prime Net Lease Inc. is pleased to offer 200 E. Wakefield Ave. in the desirable community of Anaheim. The subject property was completely renovated in 2021-2022 and is in excellent condition. 200 E. Wakefield Ave. offers very large units (1,550 SF Average) The new owner will enjoy a turnkey, low-maintenance asset with immediate cash flow. The property features a unique unit mix with units 3, 4, and 5 Bedroom units. There are individual enclosed single car garages for each unit at the rear of the building. Over 10% upside in rents exists through annual increases. The apartment building is conveniently located in Anaheim, California, offering easy access to a variety of amenities and attractions. Residents can enjoy proximity to shopping centers, restaurants, entertainment venues, and recreational facilities, ensuring a vibrant and fulfilling lifestyle. Disneyland Resort and the Anaheim Convention Center are both less than 5 minutes away. In 2022, the park had approximately 16.9 million visits, making it the second most visited amusement park in the world that year. The Convention Center hosts approximately 300 events each year, consisting of trade shows, conventions, corporate events, consumer shows, meetings, social functions and banquets.

Anaheim is a city in northern Orange County, California, United States, part of the Greater Los Angeles area. As of the 2020 census, the city had a population of 346,824, making it the most populous city in Orange County, the tenth-most populous city in California, and the 55th-most populous city in the United States. Anaheim is the 2nd most populous city in Orange County in terms of land area, and is known for being the home of the Disneyland Resort, the Anaheim Convention Center, and two major league sports teams: the Los Angeles Angels of Major League Baseball (MLB) and the Anaheim Ducks of the National Hockey League (NHL).

Anaheim is located approximately 25 miles (40 km) southeast of downtown Los Angeles. The city roughly follows the east-to-west route of the 91 Freeway from the Orange-Riverside county border to Buena Park. To the north, Anaheim is bounded by Yorba Linda, Placentia, Fullerton, and Buena Park (from east to west). The city shares its western border with Buena Park and Cypress. Anaheim is bordered on the south by Stanton, Garden Grove, and Orange (from west to east). Various unincorporated areas of Orange County also abut the city, including Anaheim Island.

Anaheim's income is based on a tourism economy. In addition to The Walt Disney Company being the city's largest employer, the Disneyland Resort itself contributes about $4.7 billion annually to Southern California's economy. It also produces $255 million in taxes every year. Another source of tourism is the Anaheim Convention Center, which is home to many important national conferences. Many hotels, especially in the city's Resort district, serve theme park tourists and convention attendees. Continuous development of commercial, entertainment, and cultural facilities stretches from the Disney area east to the Santa Ana River, south into the cities of Garden Grove, Orange and Santa Ana – collectively, this area has been labeled the Anaheim–Santa Ana edge city and is one of the three largest such clusters in Orange County, together with the South Coast Plaza–John Wayne Airport edge city and Irvine Spectrum. The Anaheim Canyon business park makes up 63% of Anaheim's industrial space and is the largest industrial district in Orange County. Anaheim Canyon is also home to the second-largest business park in Orange County.

Several notable companies have corporate offices and/or headquarters within Anaheim including Anaheim Memorial Medical Center, AT&T, CKE Restaurants, Extron Electronics, Fisker Automotive, Fujitsu, General Dynamics, Hewlett-Packard, Isuzu, Kaiser Foundation, Panasonic, Raytheon, Sunny Delight, Targus, Toyota Financial Services, Yogurtland, and Zyxel.

Larger retail centers include the Downtown Disney shopping area at the Disneyland Resort, the power centers Anaheim Plaza in western Anaheim (347,000 ft2), and Anaheim Town Square in East Anaheim (374,000 ft2), as well as the Anaheim GardenWalk lifestyle center (440,000 ft2 of retail, dining and entertainment located in the Anaheim Resort).

As the home of Disneyland Resort, the city of Anaheim is a crowd-pleasing destination for visitors from around the globe. The appeal of this Orange County hub extends well beyond its theme parks, however, thanks to magnets such as Angel Stadium and the headliner acts at the Honda Center. Anaheim boasts a reinvigorated downtown and vibrant nightlife, too, making this a vacation haven for everyone from families to foodies.

Utilities paid by tenant: Gas & Electric.

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