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Brea, CA 92821,111 S Flower AVE
Brea, CA 92821,111 S Flower AVE
Brea, CA 92821,111 S Flower AVE
$6,675,000
Est. payment /mo
$6,750,000
1.1%
Est.Price: ?

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0.49 Acres Lot
SOLD DATE : 09/24/2024

Key Details

Sold Price $6,675,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision Town Brea Tract

MLS Listing ID OC24096565

Year Built 1980

Lot Size 0.490 Acres

Property Description

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.

Location

State CA

County Orange

Area 86 - Brea

Interior

Laundry Common Area

Exterior

Garage Spaces 16.0

Garage Description 16.0

Pool None

Community Features Curbs, Gutter(s), Sidewalks

Building

Lot Description Street Level

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Tyler Leeson • Marcus & Millichap RE Invest • 714-713-9086
Bought with Kendyl Herman • T.N.G. Real Estate Consultants
Devone Richard

Broker | License ID: 1002115

+1(626) 500-1212 | devone@nextadvisors.properties

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