Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

20

Building size

14,268 sqft

Lot size

20,736 sqft

Year built

1961

Stories

2

Garage spaces

0

Pool

None

Status

Active

Days on market

774

MLS #

213789041

About this property

Great cashflow! Current actual income is $440,081.16. Current actual CAP Rate is 6.91%. Market rent is $508,8000. Market CAP Rate is 8.24%. 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, 2 on-site laundry rooms, 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.

Location

1426 Minnie Street

Santa Ana, Orange, CA, 92707