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$ 1,350,000
Est. payment | /mo
7,749 Sqft Lot
$ 1,350,000
Est. payment | /mo
7,749 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID NP25240630
HOA Y/N No
Year Built 1949
Annual Tax Amount $15,340
Lot Size 7,749 Sqft
Property Sub-Type Apartment
Property Description
Below Market Rents = Significant Rent Growth Opportunity. Updated units in the area command substantially higher rents than current in-place leases. With selective renovations (kitchens, baths, flooring, paint, windows), rents can be increased several hundred dollars per unit per month, dramatically improving cash flow and property value. Making this property well over a 5.5% CAP on market rents. Front triplex + detached rear unit appeals to a wide range of tenants. Rear unit could command a premium (privacy, standalone structure). Potential for long-term hold, cash flow, or future redevelopment. Current rents are well below market. Immediate upside through interior renovations and bringing rents to market levels. Additional potential through exterior cosmetic improvements, utility bill-backs (RUBS), and improved management.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Fireplace No
Laundry None
Exterior
Parking Features None
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Curbs
Total Parking Spaces 6
Private Pool No
Building
Lot Description Near Public Transit
Story 2
Entry Level One,Two
Sewer Public Sewer
Water Public
Level or Stories One, Two
New Construction No
Others
Senior Community No
Tax ID 03611223
Energy Description 450.0
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Listed by Ryan Anderson R L M Equities 949-290-0199