Amazing Investment property located in North East Santa Ana, bordering North Tustin and Orange. The property is located less than 2 miles from both CHOC and St Joseph's Hospitals with high rental demand. This family neighborhood is also close to the 55, 22 and 5 freeways. The Covington style 4-plex's unique unit mix has been coveted since it's inception. The front unit is a spacious 3-bedroom/1.75 bath (over 1,400 sq ft)/ There are also two comfortable 2-bed/1.75 bath units and one cozy 1-bedroom/1 bath unit. The upstairs units both have balconies, and the downstairs units have private enclosed patios. All units are individually metered for electricity and have their own private enclosed garage. The building offers 4213 sq feet of living space on a 8,276 square foot lot. The roof was replaced in 2024. The current annual income is approx. $93,000, giving any investor the possibility of stable and impressive returns right away. The uniqueness, charm, desirability and location of this 4 unit investment property ensure low vacancy rates and long-term desirability. This is a rare investment opportunity in a highly desirable area, one that doesn't come around often. Don't miss out! Listing Agent is related to the owner.
Property Sub Type:
Quadruplex
Property Attached:
No
Lot Area:
8,276 sq. ft.769 m2
Bathrooms:
-
(Full:-, Half:-)
Year built:
1969
(Age: 56)
General Listing Location:
Santa Ana, NTS - North Tustin
County Or Parish:
Orange
Tenant Pays:
Cable TV, Electricity, Telephone
Common Interest:
None
Gross Income:
$92,832
Gross Scheduled Income:
$92,832
Net Operating Income:
$59,169
Cap Rate %:
4.05
Rent Control:
Yes
Association Fee:
$0
Land Lease:
No
Electric Expense:
$486
Fuel Expense:
$2,992
Gardener expense:
1246.0
Insurance Expense:
$3,643
Operating Expense:
$33,663
Trash Expense:
$3,844
Water and Sewer Expense:
$2,045
Tax Lot:
15
nearest cross streets are E. Santa Clara Ave. and N. Tustin Ave.
Floor
Type
Size
Other
-
Living Room
Measurements not available
-
-
Laundry
Measurements not available
-
-
Kitchen
Measurements not available
-
View:
None
Appliances:
Built-In Range, Double Oven, Dishwasher, ENERGY STAR Qualified Water Heater, Electric Oven, Disposal, Gas Water Heater, Range Hood, Self Cleaning Oven, Water To Refrigerator, Water Heater