Great cashflow! Current income is 420,917.76. Current CAP Rate is 6.4%. Market rent is $508,8000. Market CAP Rate is 8.24%. 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.
Property Details
Price:
$4,720,000
MLS #:
AR24144156
Status:
Active
Baths:
0
Address:
1426 Minnie Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
69santaanasouthoffirst
City:
Santa Ana
Listed Date:
Jul 13, 2024
State:
CA
ZIP:
92707
Lot Size:
20,736 sqft / 0.48 acres (approx)
Year Built:
1961
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Schools
Interior
Exterior
Community Features
Curbs
Garage Spaces
0.00
Lot Features
36-40 Units/ Acre
Parking Spots
20.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Association Fee
0.00
Map
Community
- Address1426 Minnie Street Santa Ana CA
- Area69 – Santa Ana South of First
- CitySanta Ana
- CountyOrange
- Zip Code92707
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1426 Minnie Street
Santa Ana, CA
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