1426 Minnie Street
Santa Ana, CA 92707
0.48 acres | #AR24144156
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.
Property Details
- Lot DescriptionThirtySixToFortyUnitsAcre
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- Original List Price$4,720,000
- MLS #AR24144156
- MLS #AR24144156
- Property SubtypeApartment
- Cost4720000
- Utility SourcePublic
- CountyOrange
- Acres0.476
- Year Built1961
- Subdivision, n/a
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Benjamin Lin (#A35776)
Listing Office: 1000 Realty Corporation (#30094)
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