Welcome to an exceptional investment opportunity in a high-demand area! This property offers a rare combination of fully remodeled detached units and substantial redevelopment potential, making it an ideal choice for investors seeking immediate rental income and future growth prospects. Fully Remodeled Units: Each of the 9 detached units has been completely remodeled to the highest standards, featuring luxurious upgrades such as new luxury vinyl floors, AC split systems, brand-new kitchen cabinets with quartz countertops, and upgraded bathrooms. Additionally, all units boast new double-pane windows, ensuring energy efficiency and tenant comfort. Each unit offers a comfortable 2-bed, 1-bath layout, perfect for attracting tenants seeking modern and functional living spaces. Tenants enjoy the convenience of private yards with a fenced perimeter, providing privacy and outdoor space. Furthermore, the property offers 1 or 2 car garages for each unit, along with long driveways capable of accommodating up to 4 additional vehicles. Tenants are responsible for their own utilities and yard maintenance, minimizing landlord expenses and ensuring hassle-free management. With recent renovations and tenant responsibilities, maintenance costs are kept to a minimum, maximizing profitability for the owner. Situated in an area with high rental demand, vacancy rates are virtually zero, guaranteeing consistent rental income and financial stability. The property sits on nearly 1 acre of land, presenting significant potential for redevelopment. City ordinances permit the construction of up to 18 townhouse/condo-style units (including density bonus), offering lucrative expansion opportunities for the future. Despite the potential for redevelopment, the property generates almost market rent with a CAP ratio close to 5%, providing a solid return on investment while pursuing permits for redevelopment. Don't miss out on this exceptional investment opportunity that combines immediate rental income with the potential for future growth. Whether you're looking to expand your investment portfolio or capitalize on redevelopment possibilities, this property offers endless possibilities. Schedule a showing today to explore the potential of this lucrative investment!
|
DAYS ON MARKET
|
36
|
LAST UPDATED
|
3/22/2024
|
|
YEAR BUILT
|
1944
|
COMMUNITY
|
Santa Ana North of First
|
|
GARAGE SPACES
|
14.0
|
COUNTY
|
Orange
|
|
STATUS
|
Active
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PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
Ductless |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Built-In Range, Disposal |
| AREA |
Santa Ana North of First |
| BUYER'S BROKERAGE COMPENSATION |
2.000 % |
| GARAGE |
Asphalt, Door-Single, Driveway, Garage, Garage Door Opener, Yes |
| HEAT |
Ductless |
| INTERIOR |
All Bedrooms Down, Bedroom on Main Level, Main Level Primary, Quartz Counters |
| LOT |
0.97 acre(s) |
| LOT DESCRIPTION |
Front Yard, Garden, Near Public Transit |
| PARKING |
Asphalt,Door-Single,Driveway,Garage,Garage Door Opener |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| UTILITIES |
Cable Available,Electricity Connected,Natural Gas Connected,Phone Connected,Sewer Connected,Water Connected |
| WATER |
Public |
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Listed with Advance Estate Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/27/24 10:20 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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