7681 Ellis Avenue

Huntington Beach, CA 92648

$2,950,000
Price
12
Beds
9
Baths
5,155 Sq. Ft.
$572 / Sq. Ft.
5,155
Sq. Ft.
$572
per Sq. Ft.

Description

We are pleased to present this turnkey 5 unit apartment community located in the heart of Huntington Beach, at an in-place 4.83% cap rate (proforma 5.12%) and 15 GRM. This asset comprises an attractive unit mix of two 3-Bed/2-Bath units (~1,100 SF each) & three 2-Bed/1.5-Bath townhomes (~990 SF each). The property - interior and exterior - has been upgraded and professionally designed over the course of the last ~12 months, including windows, kitchens, bathrooms, lighting, appliances (including laundry...We are pleased to present this turnkey 5 unit apartment community located in the heart of Huntington Beach, at an in-place 4.83% cap rate (proforma 5.12%) and 15 GRM. This asset comprises an attractive unit mix of two 3-Bed/2-Bath units (~1,100 SF each) & three 2-Bed/1.5-Bath townhomes (~990 SF each). The property - interior and exterior - has been upgraded and professionally designed over the course of the last ~12 months, including windows, kitchens, bathrooms, lighting, appliances (including laundry in each unit), flooring, exterior paint, lighting & landscaping, roof (2019), partial plumbing and electric. In addition, the property now boasts a spectacular ~1,100 SF 3-Bed/2-Bath ADU. Qualified, market-rate, long-term tenants in place, these units leased FAST due to exquisite exterior and interior design, amenities like brand new kitchens & baths, private outdoor spaces, in-unit laundry, AC (ADU), and townhome-style layouts (3 units). Separate gas and electrical meters for each unit. NO LOCAL RENT CONTROL - subject only to AB 1482. Four on-site parking spaces too. Located in prime Orange County in one of the strongest rental markets. Short distance to beaches, HB Pier, neighborhood shopping center, grocery stores, trails and more.
  1. Listed by Noam Srolovitz • DRE #02069623 • Brokerage DRE #02069623 • Kape Property Management, Inc.
  2. Listed by Benjamin Lester • DRE #02033314 • Brokerage DRE #02069623 • Kape Property Management, Inc.

Property Details for 7681 Ellis Avenue

Zoning
R3
Parcel Number
15905507
Total Units
5.0
Living Area
5155
Source Living Area
Plans
Area
West Huntington Beach (15)
Vacancy Rate
0
Lot Size Area
6098

Location

Listing Courtesy of Kape Property Management, Inc., Noam Srolovitz, DRE #02069623; Kape Property Management, Inc., Benjamin Lester, DRE #02033314
Add your commute
LISTING UPDATED: 03/18/2024 07:40 AM

Property Details for 7681 Ellis Avenue

StatusActive
MLS #24-350231
Days on Market66
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.14 AC / 6,098 SF
CountyOrange County

Location

Listing Courtesy of Kape Property Management, Inc., Noam Srolovitz, DRE #02069623; Kape Property Management, Inc., Benjamin Lester, DRE #02033314
Add your commute

Building Information for 7681 Ellis Avenue

Stories2Residences-Year Built1964Building Size-Lot Size0.14 AC / 6,098 SF

Payment Calculator

$17,870 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,099

Property Taxes

$1,771

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7681 Ellis Avenue

Community / Development
Community / Development
  • Number Of Units: 5
  • Senior Community: No
  • Management Company Name: Kape Property Management Inc.
  • Management Company Phone: 3109127808|
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Towhome Apts
  • Building Permit: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $191,940
  • Net Operating Income: $140,536.00
  • Gross Income: $195,300
  • Cap Rate: 4.83%
  • Gross Rent Multiplier: $15.27
  • Financial Info as Of: 02/29/2024
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 52604
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Lot Acreage: 0.14
  • Lot Size Square Feet: 6098
  • Lot Size Dimensions: 62x100
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 4
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Air Conditioning
  • Heating: Combination
  • Heating Type: Wall Gas, Combination
  • Equipment: Built-Ins, Cable, Ceiling Fan, Dishwasher, Dryer, Electric Dryer Hookup, Ice Maker, Hood Fan, Freezer, Range/Oven, Refrigerator, Washer, Other, Microwave
  • Interior Features: Ceiling Fan(s)
  • Cooking Appliances: Cooktop - Gas, Free Standing Gas, Oven-Gas, Oven
  • Laundry: In Unit, Inside
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-29-2024
  • Tenant Pays: Cable TV, Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,400.00
  • Unit Actual Rent: $3,400.00
  • Unit Projected Rent: $3,700.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,700.00
  • Unit Actual Rent: $3,700.00
  • Unit Projected Rent: $3,700.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,000.00
  • Unit Actual Rent: $3,090.00
  • Unit Projected Rent: $3,245.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,000.00
  • Unit Actual Rent: $3,090.00
  • Unit Projected Rent: $3,245.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $2,995.00
  • Unit Projected Rent: $3,150.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110

Property History for 7681 Ellis Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7681 Ellis Avenue

Taxable ValueLand$1,698,415Additions$151,585Total$1,850,000
Tax Record2023$21,249 ($1,771 / month)
Home Facts
Total Finished SqFt4,070 SqFtAbove Grade Finished SqFt4,070 SqFtStories2Lot Size6,191 SqFtStyleQuadraplexYear Built1964CountyORANGEAPN159-055-07

Schools near 7681 Ellis Avenue

This home is within Ocean View School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Hope View Elementary School
PublicK to 5

Mesa View Middle School
Public6 to 8

Ocean View High School
Public9 to 12

Coast High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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7681 Ellis Avenue is a multi-family home for sale in Huntington Beach, CA 92648. This property was listed for sale on February 29, 2024 by Kape Property Management, Inc., it's currently listed at $2,950,000. It has been on the market for a total of 66 days and was last sold on September 13, 2022. This listing's school districts are Ocean View School District, Huntington Beach Union High School District. Nearby schools include Hope View Elementary School, Mesa View Middle School and Ocean View High School. 7681 Ellis Avenue is a 12-bed, 9-bath, 5,155 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kape Property Management, Inc., Noam Srolovitz, DRE #02069623; Kape Property Management, Inc., Benjamin Lester, DRE #02033314

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.