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$ 4,720,000
Est. payment /mo
Active
1426 Minnie ST Santa Ana, CA 92707
0.48 Acres Lot
UPDATED:
09/30/2024 06:50 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision ,N/A
MLS Listing ID AR24144156
HOA Y/N No
Year Built 1961
Lot Size 0.476 Acres
Property 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.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Curbs
Total Parking Spaces 20
Private Pool No
Building
Lot Description 36-40 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 01425205
Energy Description 12000.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Benjamin Lin • 1000 Realty Corporation • 626-233-3678