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2321 E Omega Ave 4 Unit Apartment Building $2,613,176 CAD ($653,294 CAD/Unit) 4.97% Cap Rate Anaheim, CA 92806



Investment Highlights
- Classic Covington-Style Fourplex | Turnkey | Renovated Interior/Exterior
- Extensively Renovated in 2024–2025 Offering True Turnkey Ownership
- Units Include Quartz Countertops, Stainless Steel Appliances, New Cabinetry, Renovated Bathrooms, Laminated Flooring, and Recessed lighting
- Large Corner Lot and Large Square Foot Units ±4,345 SF
- Great Unit Mix Featuring: (1) 3BD/2BA Single-Story Unit, (2) 2BD/2BA Units, and (1) 2BD/1BA Unit
- Individually Metered for Gas and Electricity with Separate Water Heaters for Each Unit
Executive Summary
We are pleased to present 2321 E Omega Avenue, a beautifully remodeled Covington-style fourplex located in a highly desirable pocket of southeast Anaheim. Built in 1972 and
totaling ±4,345 square feet, this pride-of-ownership property has been fully renovated in 2024–2025, offering a truly turnkey investment opportunity for both owner-users and
investors seeking strong in-place income and minimal ongoing maintenance. The property features the classic Covington layout with an ideal unit mix consisting of a spacious
3-bedroom, 2-bathroom owner’s unit with a private patio and direct-access two-car garage, two large 2-bedroom, 2-bathroom units each with their own garage, and an updated 2-bedroom, 1-bathroom upper unit featuring a private balcony. Each residence has been tastefully upgraded with modern finishes, including quartz countertops, stainless steel appliances, new cabinetry, updated bathrooms, laminate flooring, recessed lighting, and in-unit washer and dryer hookups.
Situated on a prominent corner lot with only one neighboring building, the property benefits from enhanced privacy, natural light, and convenient access for tenants. Each unit enjoys either a private patio, yard, or balcony, with dedicated garage parking plus additional onsite spaces. The location offers exceptional convenience—just minutes from the 57 Freeway, Anaheim Stadium, the Honda Center, Disneyland, the Platinum Triangle, and the transformational OC Vibe development. Proximity to major employment centers,
schools, parks, restaurants, and regional transit hubs ensures consistent rental demand and strong long-term appreciation potential.
Mark Bridge - Mark.Bridge@Matthews.com | BOR - David Harrington License # 02168060, 01320460 (CA)
totaling ±4,345 square feet, this pride-of-ownership property has been fully renovated in 2024–2025, offering a truly turnkey investment opportunity for both owner-users and
investors seeking strong in-place income and minimal ongoing maintenance. The property features the classic Covington layout with an ideal unit mix consisting of a spacious
3-bedroom, 2-bathroom owner’s unit with a private patio and direct-access two-car garage, two large 2-bedroom, 2-bathroom units each with their own garage, and an updated 2-bedroom, 1-bathroom upper unit featuring a private balcony. Each residence has been tastefully upgraded with modern finishes, including quartz countertops, stainless steel appliances, new cabinetry, updated bathrooms, laminate flooring, recessed lighting, and in-unit washer and dryer hookups.
Situated on a prominent corner lot with only one neighboring building, the property benefits from enhanced privacy, natural light, and convenient access for tenants. Each unit enjoys either a private patio, yard, or balcony, with dedicated garage parking plus additional onsite spaces. The location offers exceptional convenience—just minutes from the 57 Freeway, Anaheim Stadium, the Honda Center, Disneyland, the Platinum Triangle, and the transformational OC Vibe development. Proximity to major employment centers,
schools, parks, restaurants, and regional transit hubs ensures consistent rental demand and strong long-term appreciation potential.
Mark Bridge - Mark.Bridge@Matthews.com | BOR - David Harrington License # 02168060, 01320460 (CA)
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$196,174
|
$45.15
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,885
|
$1.35
|
| Effective Gross Income |
$190,288
|
$43.79
|
| Taxes |
$35,617
|
$8.20
|
| Operating Expenses |
$24,687
|
$5.68
|
| Total Expenses |
$60,304
|
$13.88
|
| Net Operating Income |
$129,985
|
$29.92
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $196,174 |
| Annual Per SF | $45.15 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,885 |
| Annual Per SF | $1.35 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $190,288 |
| Annual Per SF | $43.79 |
| Taxes (CAD) | |
|---|---|
| Annual | $35,617 |
| Annual Per SF | $8.20 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $24,687 |
| Annual Per SF | $5.68 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $60,304 |
| Annual Per SF | $13.88 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $129,985 |
| Annual Per SF | $29.92 |
Property Facts
| Price | $2,613,176 CAD | Apartment Style | Garden |
| Price Per Unit | $653,294 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 4.97% | Building Size | 4,345 SF |
| Gross Rent Multiplier | 13.32 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.61/1,000 SF |
| Zoning | RM1200 | ||
| Price | $2,613,176 CAD |
| Price Per Unit | $653,294 CAD |
| Sale Type | Investment |
| Cap Rate | 4.97% |
| Gross Rent Multiplier | 13.32 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,345 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2025 |
| Parking Ratio | 1.61/1,000 SF |
| Zoning | RM1200 |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Ceiling Fans
- Oven
- Range
- Walk-In Closets
- Lawn
- Vinyl Flooring
- Quartz Countertops
Site Amenities
- Gas Range
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $4,809 CAD | 1,200 |
| 2+2 | 2 | $4,053 CAD | 1,073 |
| 2+1 | 1 | $3,433 CAD | 1,000 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 253-162-03 | Total Assessment | $2,058,720 CAD |
| Land Assessment | $1,700,440 CAD | Annual Taxes | $35,617 CAD ($8.20 CAD/SF) |
| Improvements Assessment | $358,280 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
253-162-03
Land Assessment
$1,700,440 CAD
Improvements Assessment
$358,280 CAD
Total Assessment
$2,058,720 CAD
Annual Taxes
$35,617 CAD ($8.20 CAD/SF)
Tax Year
2025
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2321 E Omega Ave
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