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$4,720,000
Est. payment /mo
0.48 Acres Lot
UPDATED:
07/24/2024 12:02 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR24144156
Originating Board California Regional MLS
Year Built 1961
Lot Size 0.476 Acres
Property Description
Great cashflow! Market CAP Rate is 8.24%. Current CAP is 6%. 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, on-site laundry, 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. Current actual income is $403,404 with 6% CAP. Market rent is $508,800.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Interior
Laundry Community Facility
Exterior
Garage Spaces 20.0
Pool None
Building
Water District - Public
Others
Tax ID 01425205
Special Listing Condition Not Applicable
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Listed by Benjamin Lin • 1000 Realty Corporation
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Joel Martinez
Property Connection Specialist | License ID: 02338033
Property Connection Specialist License ID: 02338033