We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
Property Details
Price:
$5,095,000
MLS #:
OC24178548
Status:
Active
Baths:
0
Address:
317 S Flower Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
69santaanasouthoffirst
City:
Santa Ana
Listed Date:
Aug 28, 2024
State:
CA
ZIP:
92703
Lot Size:
6,146 sqft / 0.14 acres (approx)
Year Built:
1985
See this Listing
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Schools
Interior
Exterior
Community Features
Sidewalks, Storm Drains, Street Lights, Suburban
Garage Spaces
20.00
Lot Features
16-20 Units/ Acre
Parking Spots
26.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Association Fee
0.00
Tenant Pays
Electricity, Gas, Trash Collection, Water
Map
Community
- Address317 S Flower Street Santa Ana CA
- Area69 – Santa Ana South of First
- CitySanta Ana
- CountyOrange
- Zip Code92703
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Courtesy of Alliance Investment RE Group. 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.
317 S Flower Street
Santa Ana, CA
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