MLS® ID: OC19202193
2117 Teri Place
Fullerton, California, 92831 $1,565,000
The Teri Place Apartments, walking distance to Cal State Fullerton, provides a large pool of potential student renters looking for convenient, quality housing. This offering represents a rare opportunity for an investor to acquire a 5.5% Cap Rate /10% total return for a stable, renovated, “A” location investment property in the solid rental market of Fullerton, California.The city of Fullerton is a dynamic city in Orange County with a vibrant downtown located in Orange County, approximately 25 miles southeast of downtown Los Angeles.
The property offers an attractive unit mix consisting of (2) three bedroom/ one & one-half bathroom Townhouse style units and (2) two bedroom/ one-bathroom units totaling 4,527 square feet, situated on a 6,966 square foot lot. The subject property has recently gone through an extensive remodel of the interiors and exterior. Some interior upgrades include but are not limited to new kitchens, new appliances, new flooring, new windows, and new bathrooms. Common area amenities include a shared patio/deck, enclosed garages, and on-site laundry room.