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Key Details
Sold Price $1,450,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW23114605
Sold Date 01/31/24
Bedrooms 1
HOA Y/N No
Lot Size 6,970 Sqft
Property Description
This Value-add investment is comprised of 7 units located in the City of Santa Ana near Mater Dei High School, built in 1971 consists of seven 1 bedroom/1 bath units. This building has been well maintained and managed. The Close Proximity to nearby Bristol/McFadden retail corridor, the shopping centers, markets, and transportation makes it extremely desirable to tenants. Long term tenants in place, all on month to month leases, all tenants pay on time! All electric separately metered, tenants pay. Onsite laundry. Current owner has made several improvements to the building including exterior paint, A/C units added to units, new sliders, windows, 2 units have been recently updated, roof recently recoated with cool roof. POTENTIAL TO DEVELOP ADDITIONAL UNITS ON SITE, there is a sustained demand for new development and with this property there is huge value add potential and rental growth.
This Value-add investment is comprised of 7 units located in the City of Santa Ana near Mater Dei High School, built in 1971 consists of seven 1 bedroom/1 bath units. This building has been well maintained and managed. The Close Proximity to nearby Bristol/McFadden retail corridor, the shopping centers, markets, and transportation makes it extremely desirable to tenants. Long term tenants in place, all on month to month leases, all tenants pay on time! All electric separately metered, tenants pay. Onsite laundry. Current owner has made several improvements to the building including exterior paint, A/C units added to units, new sliders, windows, 2 units have been recently updated, roof recently recoated with cool roof. POTENTIAL TO DEVELOP ADDITIONAL UNITS ON SITE, there is a sustained demand for new development and with this property there is huge value add potential and rental growth.
Location
State CA
County Orange
Area Oc - Santa Ana (92704)
Zoning Public Rec
Building
Lot Description Curbs, Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Level or Stories 2 Story
Others
Monthly Total Fees $145
Acceptable Financing Cash, Conventional, Exchange
Space Rent $10,360
Listing Terms Cash, Conventional, Exchange
Financing Cash
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Kobe Zimmerman
Berkshire Hathaway Home Services California Properties
kobezimmerman@bhhscalifornia.com +1(858) 753-3353Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Behzad Partovi • Partovi Realty