1426 Minnie ST Active

Santa Ana,CA 92707

$ 4720000

- Bed

- Bath

14268 SqFt


Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 14,268 sqft

Price per Sqft $330

Subdivision ,N/A

MLS Listing ID AR24144156

Year Built 1961

Lot Size 0.476 Acres

Property Description

Great cashflow! Market CAP Rate is 8.24%. Current CAP is 6%. 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, on-site laundry, 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. Current actual income is $403,404 with 6% CAP. Market rent is $508,800.

Location

State CA

County Orange

Area 69 - Santa Ana South Of First

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Laundry Common Area

Exterior

Pool None

Community Features Curbs

Building

Lot Description 36-40 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash,Cash to New Loan

Listing Terms Cash,Cash to New Loan

Special Listing Condition Standard

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