|Property Use Type||Investment|
|Gross Rent Multiplier||10.93|
|Lot Size||0.40 AC|
|Building Size||7,440 SF|
The Wilshire Apartments present a great investment opportunity for an investor to acquire a well-maintained apartment building in a high-demand area, in the city of Fullerton, California. The building has been kept in the same family for the past 35 years and the owner made numerous upgrades.
The property consists of two, seven-unit buildings on two separate parcels. There are a total of 14 one-bedroom/one-bath units with 14 enclosed garages in the rear. The units are separately metered for electricity, and master metered for gas, with gas ranges and heating. The buildings have copper plumbing and two laundry rooms. The property also has a very large courtyard and a barbecue area for the enjoyment of the tenants.
It is located across the street from Ladera Vista Junior High, and within close proximity to Troy High School and California State University at Fullerton. The property is conveniently located near the 57 and 91 Freeways.
ActualScheduled Gross Income $151,020
Effective Gross Income $145,179
Operating Expenses $50,777
Net Operating Income $94,380