$4,720,000
About this home
Great cashflow! Current actual income is $440,081.16. Current actual CAP Rate is 6.91%. Market rent is $508,8000. Market CAP Rate is 8.24%. 20 high demand rental units located in the heart of Orange County. Separate APN numbers so buyer does not need on-site manager. Amenities include a spacious and quiet central courtyard, security doors, 2 on-site laundry rooms, and ample surface parking. Minnie Street is located just south of Santa Ana’s Downtown and is within the Pacific Park neighborhood. The property is within 1 mile of the bustling retail corridor of Downtown Santa Ana which provides residents with convenient access to a plethora of retail, dining, and entertainment options. The property is conveniently located within 0.75 miles to Kennedy Elementary School, Lathrop Intermediate School, and Century High School. Convenient excess to I-5 freeway. Separate electric meters paid by tenants. The landlord pays for water, trash, gas, and sewer. 8-2 bedrooms and 12-1 bedroom. The rent is below market bringing upside opportunity to increase rents by new buyer.
Facts & features
- Laundry
- Common Area
- Levels
- Two
- Lot size
- 0.476 acres (20,736 sq ft)
- Pool
- None
- Year built
- 1961
- Parking spaces
- 20
- Area
- 69 - Santa Ana South of First
- County
- Orange
- Community features
- Curbs
- Status
- Active
- Property type
- Apartment
- Days on market
- 715
- Listed
- 2024-07-13
- Terms
- Cash, Cash To New Loan
- Parcel #
- 01425205
- MLS #
- AR24144156
