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$4,550,000
Est. payment /mo
0.41 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25132443
HOA Y/N No
Year Built 1971
Lot Size 0.410 Acres
Property Sub-Type Apartment
Property Description
Pleased to present this fully renovated, 12-unit multifamily property located in the heart of Santa Ana, The offering presents a compelling investment opportunity with strong in-place cash flow and significant future upside. Built in 1971, the building consists entirely of spacious two-bedroom, one-bathroom units, each thoughtfully upgraded to meet modern tenant expectations. All interiors have been completely renovated, featuring in-unit washers and dryers, ceiling fans, and private patios or balconies. Residents also benefit from the convenience of onsite laundry facilities and the added security of controlled, secured entry. These highdemand amenities support tenant retention and enhance the property's competitive position in the local rental market.
Currently operating at a 6% CAP rate on actual rents, this property offers the rare advantage of assumable fixed-rate financing at 4.2%, providing an excellent opportunity for stabilized leverage in today's interest rate environment.
Ownership is in the process of obtaining full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU's, once constructed, add a projected 25.9% increase in gross income.
Currently operating at a 6% CAP rate on actual rents, this property offers the rare advantage of assumable fixed-rate financing at 4.2%, providing an excellent opportunity for stabilized leverage in today's interest rate environment.
Ownership is in the process of obtaining full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU's, once constructed, add a projected 25.9% increase in gross income.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Interior
Fireplace No
Laundry Common Area, Washer Hookup, Gas Dryer Hookup, See Remarks
Exterior
Garage Spaces 13.0
Garage Description 13.0
Pool None
Community Features Biking, Curbs, Park, Sidewalks
Total Parking Spaces 26
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 01012140
Energy Description 4320.0
Acceptable Financing Cash to Existing Loan
Listing Terms Cash to Existing Loan
Special Listing Condition Standard
Lease Land No
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Listed by Rick Applebaum • Morgan Skenderian • rma@morganskenderian.com