Property Detail

Description

Seller might consider buying the rate down. CREATIVE FINANCING options available. Seller has APPROVED PLANS from the city & Building PERMIT for ADU (see supplements) Will be TRANSFERRED at NO additional cost. Turnkey Investment - SOLID Income ** STRONG Cap Rate, Enjoy solid returns $107,000+ annual income from day one based on current rents, with room for upside through rent increases. Reach CAP rate - Upto 8% CAP, ADDITIONAL rent approx. $40,000 annually only from ** ADU** ** Reliable tenants already in place, paying average market rent over the past 3 years! Delivered VACANT is negotiable. ** Currently, Nine (9) spacious rooms, SEVEN (7) 4 Full Bath, 3 Full Kitchen & 5 car garage. Total 14 parking spots on this HUGE 10,000 lot. * TWO buildings SEPARATELY metered for gas, electric, water and different mailing addresses. Has to be sold together they share the same parcel (See Parcels description in supplements) ** In 2022 MAJOR REMODEL for ALL buildings was done, NEW windows, NEW floors everywhere, NEW kitchen & bathroom cabinets. IN 1986, BACK house SFR was build split into 2 residences from inside. Big backyard and side yard separated for more privacy. Original FRONT single family residence is one SINGLE story, has 2 beds & 1 FULL Bath, front, side and backyard. One of the strongest rental markets in So Cal. The City of Santa Ana is a historic city w/ vibrant downtown located in OC. Even with only a 3% rent increase - you will end up with over $3,500 additional rent each consecutive year. CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways 22,5,57. Please DO NOT go direct, do not disturb tenants. Offers subject to interior inspection. All rooms, landscape are virtually staged. MUST SEE in person to appreciate the flow and floor plan. Front House is the original that was built in 1936 and MAJOR remodeling was done in 2022. Some insights into neighborhood views from surveys: respondents say they would walk alone at night, and say streets are well-lit. Contractor info to add ADU available. ** PROPERTY VIDEO and rental cash flow available upon request.