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

10

Building size

6,840 sqft

Lot size

12,240 sqft

Year built

1960

Stories

2

Garage spaces

10

Style

Traditional,Mid Century Modern

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

Pool

None

View

Courtyard

Status

Active

Days on market

0

MLS #

248452829

About this property

809 S. Townsend Street is a 10-unit, 1961-vintage multifamily asset in Santa Ana totaling 6,840 SF of net rentable area on a 12,240 SF lot. The property is 100% occupied with a mix of six 1BR/1BA and four 2BR/1BA units, each with a private garage plus on-site laundry and ample street parking. Current ownership has recently completed several capital improvement projects including SB 721 compliance, deck repairs, new railings, new windows, and a new water heater, improving curb appeal and helping to minimize near-term capital expenditures. Current rent levels project to have 57% upside, with an 8.5% pro forma cap rate on market rents. Long-term ownership and a motivated seller create a clear value-add path for investors seeking stable in-place income with substantial rental upside in a high-demand Orange County submarket.

Location

809 S Townsend Street

Santa Ana, Orange, CA, 92704