Anaheim Hills For Profit/Affordable Convert 5710 E La Palma Ave 118 Unit Apartment Building $34,898,001 CAD ($295,746 CAD/Unit) 7% Cap Rate Anaheim, CA 92807

This is an opportunity to convert the Property to a Permanent Residential Property. Currently zoned General Commercial, the City of Anaheim has advised the Seller that the City is desirous of changing the Zoning to Mixed Use Medium. This Zoning change will allow for the conversion of the Property to Permanent Housing. The timing on the change is anticipated to be the middle of June 2025 per the City Planning Department.
The Property is currently the Motel 6 and Studio 6 Anaheim Hills. It is comprised of 118 rooms, a large common area with a large pool that can possibly be repositioned as additional living space for the Conversion. Included in Studio 6 are 28 suites. Situated on an approximate 2.9 acre lot, the Property has ample parking 119 spaces.
All property showings are to be coordinated through the Listing Agent at 310-704-9109. THE MANAGER IS NOT TO BE DISTURBED OR TO BE ASKED TO SHOW ROOMS.
Location:
This Conversion Opportunity is located in Anaheim Hills. Anaheim Hills is a community in Orange County in Southern California, directly south of Yorba Linda. Although it is part of Anaheim, it does not border central Anaheim and is geographically separated from that part of the city, so the name Anaheim Hills is used to distinguish it from Anaheim.
The Property is located just to the West and is visible from the 91 Freeway off of the Imperial Highway off-ramp. From this offramp the Nixon Presidential Museum is just to the West in the adjacent City of Yorba Linda.