Thank you
Long Nguyen
Advance Estate Realty
714-894-4306
Welcome to an exceptional investment opportunity in a high-demand area! This property offers a rare combination of fully remodeled detached units and substantial redevelopment potential, making it an ideal choice for investors seeking immediate rental income and future growth prospects. Fully Remodeled Units: Each of the 9 detached units has been completely remodeled to the highest standards, featuring luxurious upgrades such as new luxury vinyl floors, AC split systems, brand-new kitchen cabinets with quartz countertops, and upgraded bathrooms. Additionally, all units boast new double-pane windows, ensuring energy efficiency and tenant comfort. Each unit offers a comfortable 2-bed, 1-bath layout, perfect for attracting tenants seeking modern and functional living spaces. Tenants enjoy the convenience of private yards with a fenced perimeter, providing privacy and outdoor space. Furthermore, the property offers 1 or 2 car garages for each unit, along with long driveways capable of accommodating up to 4 additional vehicles. Tenants are responsible for their own utilities and yard maintenance, minimizing landlord expenses and ensuring hassle-free management. With recent renovations and tenant responsibilities, maintenance costs are kept to a minimum, maximizing profitability for the owner. Situated in an area with high rental demand, vacancy rates are virtually zero, guaranteeing consistent rental income and financial stability. The property sits on nearly 1 acre of land, presenting significant potential for redevelopment. City ordinances permit the construction of up to 18 townhouse/condo-style units (including density bonus), offering lucrative expansion opportunities for the future. Despite the potential for redevelopment, the property generates almost market rent with a CAP ratio close to 5%, providing a solid return on investment while pursuing permits for redevelopment. Don't miss out on this exceptional investment opportunity that combines immediate rental income with the potential for future growth. Whether you're looking to expand your investment portfolio or capitalize on redevelopment possibilities, this property offers endless possibilities. Schedule a showing today to explore the potential of this lucrative investment!
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Water Source : Public
Sewer : Public Sewer
Roof : Shingle
Interior Features: Quartz Counters,All Bedrooms Down,Bedroom on Main Level,Main Level Primary
Windows: Double Pane Windows
Property Appliances: Built-In Range,Disposal
Fireplace: None
Flooring: Vinyl
Ductless
Air Conditioning
Ductless
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1944
Building Area Total: 8,435
Roof: Shingle
None
None
Electric Dryer Hookup,Gas Dryer Hookup,In Kitchen
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.9664
Lot Size Source: Estimated
Lot Size Square Feet: 42098
Original List Price: 4,599,000
Listing Contract Date: 2024-03-20
Listing Agreement: Exclusive Right To Sell
Parcel Number: 19823108
Garage Description: Asphalt,Door-Single,Driveway,Garage,Garage Door Opener
Lease Term: Negotiable
Tenant Pays: All Utilities
Source Listing Status: Active
Source Neighborhood: 70 - Santa Ana North of First
Postal Code Plus 4: 1757
Directions: Harbor & Hazard
Source Property Type: Residential Income
Area: 70 - Santa Ana North of First
Property SubType: Apartment
Property Age: 80
Common Walls: No Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Levels or Stories: One
Building Total Stories: 1
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
103 Delft Street #2, Santa Ana, CA,92703 | $139,900 | 4 | 2 | 1,120 | -- |
4626 West 5th. Street, Santa Ana, CA,92703 | $1,196,998 | -- | -- | 2,044 | 10024 Sqft |
1074 W 2nd Street, Santa Ana, CA,92703 | $574,900 | 6 | 3 | 1,134 | 6098 Sqft |
611 N Bristol Street #5, Santa Ana, CA,92703 | $349,000 | 1 | 1 | 708 | -- |
226 Green Drive, Santa Ana, CA,92703 | $225,000 | 3 | 2 | 1,248 | -- |
117 S Daisy Avenue, Santa Ana, CA,92703 | $988,888 | 5 | 3 | 2,018 | 5101 Sqft |
117 S Daisy Avenue, Santa Ana, CA,92703 | $988,888 | 5 | 3 | 2,018 | 5101 Sqft |
402 N Susan Street, Santa Ana, CA,92703 | $699,000 | 4 | 2 | 1,600 | 3916 Sqft |
326 N Susan Street, Santa Ana, CA,92703 | $699,000 | 2 | 1 | 1,600 | 3637 Sqft |
3424 W Washington Avenu.., Santa Ana, CA,92703 | $130,000 | 3 | 2 | 880 | -- |
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ByOwner last updated this listing 04/30/2024 @ 05:40
MLS: OC24056555
LISTED BY: Long Nguyen, Advance Estate Realty
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.