Description

Huntington Manor is a 77-unit multifamily investment opportunity located in Huntington Beach, CA. Situated across 16 single-story buildings on a spacious 4.47-acre double lot, Huntington Manor offers an excellent mix of one and two-bedroom floor plans and a comprehensive community amenity package that includes a dog park, leasing office, ample carport and surface parking, spacious central courtyards, and an on-site laundry facility. With a prime Huntington Beach location, residents of Huntington Manor are at the epicenter of all that Huntington Beach has to offer. The property is located within a 0.50-mile radius of 5 Points Plaza, Seacliff Village, and Newland Shopping Center, providing residents convenient access to everyday needs. Additionally, residents enjoy Huntington Manor’s close proximity, just 0.85 miles, to Huntington Central Park and the plethora of outdoor activities it provides. Huntington Manor is within 2 miles of Downtown Huntington Beach, the vibrant city center featuring an abundance of popular restaurants, bars, and retailers, as well as the world-famous Huntington City Beach, home to the US Open of Surfing. Furthermore, residents benefit from Huntington Manor’s close proximity to Beach Boulevard, connecting residents to employment hubs throughout Orange County. Huntington Manor represents a unique, turnkey investment opportunity with additional upside potential. Current ownership has implemented an in-depth renovation program to revitalize the asset, investing more than $2.8 million across unit interior and exterior upgrades. Renovated unit interiors feature high-quality finishes including quartz countertops, stainless steel appliances, shaker-style cabinetry, tile backsplashes, vinyl flooring, dual-pane windows, in-unit laundry, and spacious private patios. Additionally, a new owner has the opportunity to capitalize on underutilized community space by converting it to four accessory dwelling units, which would diversify the unit mix and increase potential rental revenue. Furthermore, Huntington Beach’s continued strong rental metrics, including a Q1 2023 occupancy rate of 96.3 percent and a year-over-year rent growth of 7.5 percent for 2022, are evidence of the substantial demand for rental units in the city.