Thank you
Jason Kirklen
Kirklen Investment Group
949-942-1300
Located in the heart of the highly sought-after city of Orange, this 20-unit apartment building presents a compelling investment proposition with significant upside potential in rental income. Comprising of 16 one-bedroom, one-bathroom units, and four spacious two-bedroom, one-bathroom units, this property caters to a wide range of tenant needs. 16 One-Bedroom, One-Bathroom Units: These well-appointed units provide comfortable living spaces for singles or couples, offering modern amenities and privacy. 4 Two-Bedroom, One-Bathroom Units: Designed for families or those desiring extra space, these units are highly attractive to a broader tenant base. This property boasts ample parking for residents with 16 garage parking spaces and an additional 6 surface parking spaces. The convenience of dedicated parking enhances tenant satisfaction and retention. The building has separate meters for electricity and a master meter for gas and water, creating the perfect foundation for implementing a Ratio Utility Billing System (RUBS) program. This opens the door to an additional revenue stream and allows for a more equitable distribution of utility costs among tenants. Situated in the thriving city of Orange, this apartment building enjoys a prime location within a highly desirable rental market. Orange is known for its vibrant community, excellent schools, and proximity to major employers, making it an attractive destination for both residents and investors alike.
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Water Source : Public
Sewer : Public Sewer
Year Built: 1961
Building Area Total: 12,054
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.42
Lot Size Source: Assessor
Lot Size Square Feet: 18296
Original List Price: 6,390,000
Listing Contract Date: 2024-04-11
Listing Agreement: Exclusive Right To Sell
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 699 - Not Defined
Directions: 55 North, L East Katella, L Glassell, R Hoover
Source Property Type: Residential Income
Area: 699 - Not Defined
Property SubType: Apartment
Property Age: 63
Common Walls: 2+ Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: central courtyard
Property Attached: Yes
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
2810 E Echo Hill Way, Orange, CA,92867 | $1,695,000 | 6 | 3 | 3,052 | 16848 Sqft |
2409 E Monroe Avenue, Orange, CA,92867 | $1,039,000 | 3 | 1 | 1,485 | 6098 Sqft |
201 W Collins Avenue #5, Orange, CA,92867 | $169,900 | 3 | 2 | 1,392 | 525271 Sqft |
8016 E Hampshire Road, Orange, CA,92867 | $1,495,000 | 5 | 3 | 2,871 | 5303 Sqft |
2456 N Eaton Court, Orange, CA,92867 | $2,299,000 | 6 | 4 | 3,913 | 7000 Sqft |
8034 E Portico, Orange, CA,92867 | $1,940,000 | 4 | 3 | 3,508 | 6859 Sqft |
1540 E Trenton Avenue #57, Orange, CA,92867 | $225,500 | 2 | 2 | 1,104 | -- |
8016 E Hampshire Road, Orange, CA,92867 | $1,499,900 | 5 | 3 | 2,871 | 5303 Sqft |
1026 N Shattuck Place, Orange, CA,92867 | $2,025,000 | -- | -- | 3,552 | 7405.2 Sqft |
2126 E Monroe Avenue, Orange, CA,92867 | $1,255,000 | 5 | 1 | 2,500 | 6500 Sqft |
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ByOwner last updated this listing 05/07/2024 @ 01:14
MLS: OC24071998
LISTED BY: Jason Kirklen, Kirklen Investment Group
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.