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Multifamily

Madison Park

Anaheim, CA

768 Units

Built in 1969

Value Add

Investment Highlights

  • Offers the most extensive common area amenity package in the market including (3) swimming pools, (3) lighted tennis courts, barbecue pavilion, movie theater, fitness center, banquet kitchen, and more
  • Current ownership has invested $7 million to address many of the property systems needs including common area lighting, new hallway paint and flooring, and a resurfacing of asphalt parking lot.
  • Anaheim is projected to experience 12.9% rent growth in 2022 and average 6.7% YoY rent growth over the next five years while maintaining a 3.2% average vacancy rate over the same time period.
  • Lease trade outs at Madison Park have been strong, averaging 10.4% over the last 60 days.
  • Only 17% of the population in Anaheim qualifies for a median priced home.  The cost of a monthly mortgage now exceeds 2x the average rent at Madison Park, thus reinforcing demand for apartments.

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