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Listed by Benjamin Lin • 1000 Realty Corporation
$ 4,720,000
Est. payment | /mo
14,268 SqFt
$ 4,720,000
Est. payment | /mo
14,268 SqFt
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 14,268 sqft
Price per Sqft $330
MLS Listing ID AR-24144156
Year Built 1961
Lot Size 0.476 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
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.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Interior
Laundry Community
Exterior
Pool None
Community Features Curbs
Building
Lot Description 36-40 Units/Acre
Sewer Public Sewer