Price $1,180,000
Status Active
Beds 0
Baths 0 Bath
Home size 3,698 sqft
Lot Size 6,469 sqft
Days on Market 47
Great location 3/4 mile SW of South Coast Plaza. Located 1/2 mile from Orange Coast College and less than 2 miles from John Wayne Airport. The property consists of a single building with a 1-story, 2 BR/1 BA unit in the front and two 2 BR/1.5 BA two-story townhouse-style units in the rear. Very spacious units approx. 1,063 sf, each with attached patio. The building was constructed in 1962. Each unit has an individual garage space and there are 2 additional uncovered parking spaces. Parking is accessed through a rear alley. Vinyl and plank flooring. There is an extremely strong demand for rentals in this area. There is significant upside in the current rent rates. The 2 BR/1 BA rents for $1,610 and 2 BR/1.5 BA unit rents for $1,675, on the same street are currently rented at rates as high as $1,700 and $1,850/month, respectively. Current income specified below is actual. Current expenses are estimated. Projected Scheduled Gross Income and Net Operating Expenses with renovated units at market rental rates are $59,520 and $31,208 respectively. Projected Gross Rent Multiplier is 19.2. Selling as is.
Property Type(s): Residential Income
Last Updated 8/5/2019 Tract Mesa North - President Streets (PRMN)
Year Built 1962 Community C3 - South Coast Metro
County Orange

Additional Details

APPLIANCES Disposal, Free-Standing Range, Gas Range, Vented Exhaust Fan, Water Heater
AREA C3 - South Coast Metro
BASEMENT Foundation: Slab
CONSTRUCTION Drywall Walls, Frame, Stucco, Wood Siding
GARAGE Garage, Garage - Three Door, Garage Faces Rear, Off Street, On Site, Parking Space, Private
HEAT Natural Gas, Wall Furnace
INTERIOR Formica Counters, Unfurnished
LOT 6469 sq ft
LOT DESCRIPTION 21-25 Units/Acre, Back Yard, Front Yard, Park Nearby, Rectangular Lot, Utilities - Overhead
SEWER Public Sewer
SUBDIVISION Mesa North - President Streets (PRMN)
WATER Public



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Listing provided by : Lyn Janota CalDRE: 01944862, William Kennedy And Associates

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