$4,974,000
About this home
The Flower Street Apartments is comprised of a 20 unit gated apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent over the last 5 years in both the interiors and exterior. The property is individually metered for both gas & electric and has their own water heater. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow. Although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! Agents/Broker of Record takes no responsibility for the accuracy of this information. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
Facts & features
- Laundry
- Common Area
- Lot size
- 0.141 acres (6,146 sq ft)
- Pool
- None
- Year built
- 1985
- Parking spaces
- 26
- Area
- 69 - Santa Ana South of First
- County
- Orange
- Community features
- Storm Drains, Street Lights, Suburban, Sidewalks
- Status
- Active
- Property type
- Apartment
- Days on market
- 439
- Listed
- 2025-04-10
- Original price
- $4,975,000
- Terms
- Cash To New Loan
- Parcel #
- 00820327
- MLS #
- OC25079080