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Under Contract
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Multifamily

Foxborough

Orange, CA

90 Units

Built in 1964

Value Add

Investment Highlights

  • Value-Add: 25% upside in rental income, recently leased renovated units are achieving a $500 or greater premium over average in-place rents, current ownership has fully renovated 36% of units.
  • Attractive Market Trends: Rents projected to grow by 7.64% in the Orange submarket over the next 12 months. Over the last 5 years, the average vacancy rate in Orange County was 2%.
  • In the Heart of Orange County: Orange County is home to 3.2M people and boasts the 9th largest GDP in the United States ($280B) and the highest average household income ($133,408) of any SoCal County.
  • Home Ownership Out of Reach: The median single-family home in Orange costs $1,025,000, putting home ownership out of reach for the average household.
  • Robust Employment: Orange County is home to numerous Fortune 500 companies including Disney, Bank of America, and Boeing, as well as the corporate headquarters of many other well established companies.
  • Compelling New Developments Driving Demand in the Submarket: The Property is 10 minutes from Downtown Anaheim, home to shopping centers and eateries such as the Anaheim Packing District and Center Street Promenade, as well as 15 minutes away from ocV!BE, a $3B master planned mixed-use community and live entertainment district.

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