2631 Andover Ave, Fullerton, CA 92831

Description

We are pleased to offer the opportunity to acquire 2631 Andover Ave, a 4-unit Covington style apartment building located in a highly desirable neighborhood in Fullerton, just half a mile from Cal State Fullerton. Built in 1964, this 4,302 SqFt property on a 7,211 SqFt lot offers strong fundamentals and an attractive unit mix consisting of one (1) three-bed, two-bath unit, two (2) two-bed, one and a half-bath townhome units, and one (1) two-bed, one-bath unit. The parking consists of two (2) double-car and two (2) single-car remote controlled garages. The building itself features a new, a recent deck replacement for Unit 4, upgraded central HVAC in Unit 1, and a fresh paint job that ties into its unique curb appeal. Select units have private patios and also underwent interior upgrades, including modernized kitchens and bathrooms, granite countertops, and luxury vinyl plank and ceramic tile flooring. The property is individually metered for electricity/gas and utilizes a RUBS Program that minimizes operating expenses. 2631 Andover Ave presents a rare opportunity to acquire a well-maintained, turnkey asset with stable in-place income, offering rental upside at approximately 14%. This provides investors with the chance to increase cash flow through interior renovations, rental repositioning, or expansion potential. Surrounded by major business parks, shopping centers, restaurants, and entertainment, with easy access to the 5, 57, 90, and 91 freeways and strong rental demand, this property represents an exceptional investment and long-term appreciation potential in one of Fullerton's most sought-after neighborhoods. This is a great opportunity to own a quality multifamily property in Orange County.