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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.
Property Type(s):
Residential Income
| Last Updated | 10/12/2024 | Tract | ,n/a |
|---|---|---|---|
| Year Built | 1961 | Community | Santa Ana South of First |
| County | Orange |
Additional Details
| AREA | Santa Ana South of First |
|---|---|
| HOA DUES | 0 |
| LOT | 0.48 acre(s) |
| LOT DESCRIPTION | 36-40 Units/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | ,n/a |
| WATER | Public |
Location
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Listed with 1000 Realty Corporation
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