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
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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Courtesy of 1000 Realty Corporation. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1426 Minnie Street
Santa Ana, CA
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