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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$4,974,000

Est. payment - /mo

6,146 Sqft Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC25079080

HOA Y/N No

Year Built 1985

Lot Size 6,146 Sqft

Property Sub-Type Apartment

Property Description

The Flower Street Apartments is comprised of a 20 unit gated apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent over the last 5 years in both the interiors and exterior. The property is individually metered for both gas & electric and has their own water heater. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow. Although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow!

Agents/Broker of Record takes no responsibility for the accuracy of this information. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.

Location

State CA

County Orange

Area 69 - Santa Ana South Of First

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 20.0

Garage Description 20.0

Pool None

Community Features Storm Drain(s), Street Lights, Suburban, Sidewalks

Total Parking Spaces 26

Private Pool No

Building

Lot Description 16-20 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 00820327

Energy Description 878.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Ruben Khorsandi Alliance Investment RE Group 949-683-6662, DRE #01085411

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

317 S Flower ST Santa Ana, CA 92703

Ernie Caponera

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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317 S Flower ST