Fully remodeled 2-bed, 1-bath detached units on nearly 1 acre—each featuring private yards, 1–2 car garages, and extended driveways for ample parking. Seller invested approx. $300,000 in capital improvements, including luxury vinyl plank flooring, quartz countertops, new cabinets, upgraded bathrooms, split AC systems, and dual-pane windows. Tenants pay all utilities; owner only covers gardening. Rents are currently 10–20% below market, offering excellent upside. CAP rate is 5.86% with minimal operating expenses. Development Potential: City has preliminarily approved 4 additional units, with garage-to-ADU conversion potential. Zoning may allow up to 18 units with density bonus (buyer to verify). A rare opportunity to acquire a high-performing asset with strong cash flow and significant redevelopment potential!
Property Sub Type:
Apartment
Property Attached:
No
Lot Area:
40,685 sq. ft.3,780 m2
Bathrooms:
-
(Full:-, Half:-)
Year built:
1944
(Age: 81)
General Listing Location:
Santa Ana, 66 - N of Blsa, S of GGrv, E of Brookhrst, W of Ha
County Or Parish:
Orange
Tenant Pays:
All Utilities
Common Interest:
Community Apartment
Gross Income:
$12,749
Gross Scheduled Income:
$320,179
Net Operating Income:
$243,428
Cap Rate %:
5.42
Rent Control:
Yes
Total Actual Rent:
$307,430
Association Fee:
$0
Land Lease:
No
Gardener expense:
3600.0
Insurance Expense:
$6,135
Licenses expense:
900.0
Maintenance Expense:
$1,883
Taxes expense:
53880.0
Operating Expense:
$57,063
Other Expense:
$1,184
Professional Management Expense:
$0
Trash Expense:
$0
Water and Sewer Expense:
$8,665
Vacancy Allowance:
$9,223
Vacancy Allowance Rate:
$3
Tax Lot:
14
Harbor & Hazard
Floor
Type
Size
Other
-
Bedroom
Measurements not available
All Bedrooms Down
-
Laundry
Measurements not available
-
-
Living Room
Measurements not available
-
Appliances:
Disposal, Gas Range, Range Hood
Accessibility Features:
None
Number of Buildings:
9
# of Electric Meters:
9
# of Gas Meters:
9
# of Water Meters:
4
# Units Leased:
9
Community Features:
Street Lights
Senior Community:
No
Interior Features:
Quartz Counters, All Bedrooms Down
Laundry Features:
Inside
Window Features:
Double Pane Windows
Pool Features:
None
Private Pool:
No
Lot Features:
Yard
Fireplace Features:
None
Subdivision Name:
unknown
Levels:
One
Num Stories:
1
Entry Level:
1
Entry Location:
1
New Constr.:
No
Flooring:
Vinyl
Foundation:
Slab
Roof:
Shingle
Common Walls:
No Common Walls
# Units:
9
Heating:
Ductless
Fireplace:
No
Cooling:
Ductless
Utilities:
Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected