UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR24144156
Bedrooms 6
HOA Y/N No
Lot Size 0.476 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Great cashflow! Current actual income is $430,366.36. Current actual CAP Rate is 6.7%. 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 Anas 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.
Location
State CA
County Orange
Area Oc - Santa Ana (92707)
Zoning Public Rec
Building
Lot Description Curbs
Story 2
Level or Stories 2 Story
Others
Monthly Total Fees $213
Acceptable Financing Cash
Space Rent $1,633
Listing Terms Cash
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