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Monterra Springs 861 S Glencliff St 111 Unit Apartment Building $57,955,549 CAD ($522,122 CAD/Unit) 4.87% Cap Rate La Habra, CA 90631
Investment Highlights
- Only 100+ unit market-rate multifamily listing in Orange County per LoopNet/CoStar
- Diverse mix of one, two, & four-bedroom floorplans including townhome-style units
- Community amenities include pool, spa, fitness center, gated access, & on-site laundry
- Approximately 90 of 111 units renovated with remaining value-add potential
- Situated on a low-density 4.93-acre site with ample open space
- Nearby retailers include Trader Joe’s, Target, Walmart, Lowe’s, Sprouts, & Sam’s Club
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire Monterra Springs, a 111-unit multifamily community located at 861 Glencliff Street in La Habra, California.
Built in 1969 and situated on a 4.93-acre parcel, the property comprises 93,310 rentable square feet and features a diverse unit mix of one, two, and four-bedroom floorplans, including townhome-style units. The community benefits from a low-density site plan with ample open space and a range of tenant-oriented amenities, including a swimming pool and spa, fitness center, gated access, on-site laundry facilities, and covered and surface parking.
Current ownership has completed renovations to approximately 90 of the 111 units, providing a strong in-place renovation program that has already driven operational upside while leaving a clear path for a new owner to complete the remaining units and further optimize income.
Monterra Springs represents a rare opportunity to acquire a scaled, market-rate multifamily asset in Orange County. According to LoopNet/CoStar, it is currently the only 100+ unit market-rate multifamily property actively listed for sale in the county, underscoring the scarcity of comparable investment opportunities at this size and price point.
The offering provides investors with the ability to acquire a partially renovated asset with demonstrated value-add execution, remaining upside through interior renovations and rental growth, and long-term hold potential within a high-barrier-to-entry Southern California market.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Built in 1969 and situated on a 4.93-acre parcel, the property comprises 93,310 rentable square feet and features a diverse unit mix of one, two, and four-bedroom floorplans, including townhome-style units. The community benefits from a low-density site plan with ample open space and a range of tenant-oriented amenities, including a swimming pool and spa, fitness center, gated access, on-site laundry facilities, and covered and surface parking.
Current ownership has completed renovations to approximately 90 of the 111 units, providing a strong in-place renovation program that has already driven operational upside while leaving a clear path for a new owner to complete the remaining units and further optimize income.
Monterra Springs represents a rare opportunity to acquire a scaled, market-rate multifamily asset in Orange County. According to LoopNet/CoStar, it is currently the only 100+ unit market-rate multifamily property actively listed for sale in the county, underscoring the scarcity of comparable investment opportunities at this size and price point.
The offering provides investors with the ability to acquire a partially renovated asset with demonstrated value-add execution, remaining upside through interior renovations and rental growth, and long-term hold potential within a high-barrier-to-entry Southern California market.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$4,485,645
|
$48.07
|
| Other Income |
$234,435
|
$2.51
|
| Vacancy Loss |
$134,569
|
$1.44
|
| Effective Gross Income |
$4,585,511
|
$49.14
|
| Taxes |
$650,516
|
$6.97
|
| Operating Expenses |
$1,109,791
|
$11.89
|
| Total Expenses |
$1,760,308
|
$18.87
|
| Net Operating Income |
$2,825,203
|
$30.28
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $4,485,645 |
| Annual Per SF | $48.07 |
| Other Income (CAD) | |
|---|---|
| Annual | $234,435 |
| Annual Per SF | $2.51 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $134,569 |
| Annual Per SF | $1.44 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $4,585,511 |
| Annual Per SF | $49.14 |
| Taxes (CAD) | |
|---|---|
| Annual | $650,516 |
| Annual Per SF | $6.97 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $1,109,791 |
| Annual Per SF | $11.89 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $1,760,308 |
| Annual Per SF | $18.87 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $2,825,203 |
| Annual Per SF | $30.28 |
Property Facts
| Price | $57,955,549 CAD | Apartment Style | Garden |
| Price Per Unit | $522,122 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 4.93 AC |
| Cap Rate | 4.87% | Building Size | 93,310 SF |
| Gross Rent Multiplier | 12.28 | Average Occupancy | 99% |
| No. Units | 111 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.89/1,000 SF |
| Price | $57,955,549 CAD |
| Price Per Unit | $522,122 CAD |
| Sale Type | Investment |
| Cap Rate | 4.87% |
| Gross Rent Multiplier | 12.28 |
| No. Units | 111 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.93 AC |
| Building Size | 93,310 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.89/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Satellite TV
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
Site Amenities
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Spa
- Grill
- Gas Range
- Laundry Service
- Media Center/Movie Theatre
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 42 | - | 710 |
| 2+1 | 48 | - | 880 |
| 2+1.5 | 20 | - | 1,000 |
| 4+2 | 1 | - | 1,250 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 018-471-04 | Total Assessment | $47,637,601 CAD (2025) |
| Land Assessment | $28,645,867 CAD (2025) | Annual Taxes | $650,516 CAD ($6.97 CAD/SF) |
| Improvements Assessment | $18,991,735 CAD (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
018-471-04
Land Assessment
$28,645,867 CAD (2025)
Improvements Assessment
$18,991,735 CAD (2025)
Total Assessment
$47,637,601 CAD (2025)
Annual Taxes
$650,516 CAD ($6.97 CAD/SF)
Tax Year
2026 Payable 2026
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Monterra Springs | 861 S Glencliff St
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