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111 S Flower AVE Brea, CA 92821
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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
Sold Date 09/24/24
HOA Y/N No
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
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 16.0
Garage Description 16.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 31
Private Pool No
Building
Lot Description Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 31928324
Energy Description 5520.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Kendyl Herman • T.N.G. Real Estate Consultants
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