1112 Bradford Ave, Placentia, CA 92870

176 Unit Apartment Building | $51,000,000 ($289,773/Unit) | 3.89% Cap Rate | Placentia, CA 92870

Asking Price $51,000,000

Property Type: Multifamily
Square Feet: 121,725 SF

Listing Contacts

Doug Rodermund

Rick Applebaum

Paul Espinosa

Property Overview

Morgan Skenderian is pleased to present the Bradford Terrace Senior Apartments, a 176-unit, active adult senior apartment building (for the 55+ community) in the city of Placentia. Built in 2002 and situated on over 3 acres of land, the property is comprised of one- and two-bedroom floor plans. Property amenities include gated access, a swimming pool, a spa, laundry facilities, library, fitness center, clubhouse, game room, and picnic area. Units are newly renovated and amenities include kitchen appliances, plank flooring, carpeting, ceiling fans, and a private patio or balcony. Driven by an aging population and through the continued modernization of the remaining units and increases on current rent levels that are projected to be nearly 34% below market, the Bradford Terrace Senior Apartments is a stand-out for a long-term hold strategy with phenomenal growth potential and exceptional future cash-on-cash returns.
Ideally located in the city of Placentia and given its close proximity to Brea, Yorba Linda and Fullerton, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located roughly 1.50 miles from the future Placentia Metrolink Station and roughly 3 miles from where State Route 57 (the Orange Freeway) and State Route 91 (the Riverside Freeway) meet, allowing for ease of access to regional employment hubs in Los Angeles, Orange, and Riverside Counties.

Property Details

Class: C
Year Built: 2002
Stories: 3
Lot Size (sq. ft): 137,650 SF
Units: 176

Highlights

Active Adult Senior Apartments for the 55 and Over Community
Built in 2002
Attractive Unit Mix of One- & Two-Bedroom Floor Plans
Value-Add Opportunity with Significant Rental Upside
Desirable Unit Features Include Private Patios/Balconies, Ceiling Fans, Dishwashers, Central Heat & A/C & More
Prime Placentia Location Adjacent to Brea, Yorba Linda and Fullerton

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