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

SingleFamilyResidence

Bedrooms

3

Building size

3,726 sqft

Lot size

9,583 sqft

Year built

1987

Stories

2

Garage spaces

5

Heating

None

Cooling

None

Pool

None

View

None

Status

Active

Days on market

2

MLS #

247944795

About this property

TWO DETACHED BUILDINGS (1001 & 1003 W. MYRTLE — SOLD TOGETHER) • THREE RENTAL UNITS • ONE LARGE LOT • A versatile investment opportunity • STRONG Existing Rental Income — Stable Tenants • HIGH VALUE — Unusually strong income for its unit count, currently over $92,600 in Net Operating Income (NOI), over 6% CAP Rate, with over $107,700 in annual gross income, plus potential additional laundry and garage income • Strong in-place rental income, even within a rent-regulated area • LARGER BUILDING — One of the MOST COMPETITIVELY PRICED small multifamily properties by $/SF • ONE OF THE LARGER LOTS among comparable properties — approximately 9,583 SF, PROVIDING substantially more land • 5 garages / plus additional parking spaces on the LOT • Documented ADU / VALUE-ADD potential — Stamped plans available for review • AMPLE LAND + Multiple avenues for FUTURE value creation • RARE DETACHED MULTIFAMILY CONFIGURATION — No shared walls, No one ABOVE OR BELOW, providing PRIVACY • Stong tenant appeal & Rental demand • Separate utility meters • LIVE IN ONE • RENT THE OTHERS • OR INVEST FOR CASH FLOW • COMPLETELY REMODELED IN 2022 — New EVERTHING: Double pane windows, flooring, kitchen cabinets, countertops, bathroom vanities and tubs • 10 ROOMS • 4 FULL BATHS • 3 FULL KITCHENS • Existing garage structures provide a documented pathway for potential future ADU conversion • Please see Supplements for permits, plans and supporting documentation. • Prime Central Location Strategically positioned • CLOSE to Tustin and Orange borders, with convenient access to major freeways, employment centers, shopping, dining, and schools Virtually staged / AI - generated images SHOWING: Tenant Occupied — DRIVE-BY ONLY. Showings by appointment upon receipt of a complete offer package.

Location

1001 W Myrtle

Santa Ana, Orange, CA, 92703