Westminster Apartments Listing Details & Market Data

Westminster is a city in western Orange County, California, United States. The city was founded in 1870 by Rev. Lemuel Webber as a Presbyterian temperance colony and was incorporated in 1957. Westminster is bordered by the city of Seal Beach on the west, by Garden Grove on the north and east, and by Huntington Beach and Fountain Valley on the south. Santa Ana, the county seat of Orange County, is east of Westminster. Westminster has one of the largest Vietnamese populations in the US. They settled largely in Little Saigon, and the city is known as the "capital" of overseas Vietnamese with 36,058 Vietnamese Americans and at 40.2% (2010), the highest municipal prevalence of Vietnamese Americans. In 1996 Westminster was designated an “All-America City” by the National Civic League for civic accomplishments, made possible by the cooperative efforts of business, government, the volunteer sector, and other individuals. Westminster continues to support the needs of a diverse population today and is widely seen as a welcoming community, with many services and venues to serve its visitors and residents including a 420-seat theater at the Westminster Rose Center, a satellite campus of Coastline Community College, Sid Goldstein Freedom Park, and Westminster Mall. Some of the top employers in the city of Westminster include the Westminster School District, Kindred Hospital Westminster, Walmart, Target and the City of WestminsterMorgan Skenderian is pleased to present the Westminster Apartments, a portfolio of 80 apartment units laid out over 4 contiguous parcels of land (20 units each). Built in 1963, the property is comprised of one- and two-bedroom floor plans. Property amenities include laundry facilities, an expansive courtyard and an open parking lot at the rear of the property. Newly renovated units offer new hardwood flooring, new granite countertops, new gas range/oven, custom hardwood cabinetry, custom tiled walls in the bathrooms, oversized vanities, gas heaters and ceiling fans. Through the continued modernization of the remaining units and increases on current rent levels that are projected to be nearly 37% below market, the Westminster Apartments is a stand-out for a long-term hold strategy with phenomenal growth potential and exceptional future cash-on-cash returns. Ideally located in the city of Westminster and given its close proximity to Huntington Beach, Seal Beach, Garden Grove, and Fountain Valley, residents have access to an endless amount of dining, shopping, and entertainment options. Additionally, the property is located near Highway 39 (Beach Boulevard), State Route 22 (Garden Grove Freeway) and State Route 405 (San Diego Freeway), allowing for ease of access to regional employment hubs in Los Angeles and Orange Counties.