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$4,720,000

Est. payment - /mo

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14,268 SqFt

Active

1426 Minnie ST Santa Ana, CA 92707

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

09/30/2024 06:50 PM

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

HOA Y/N No

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

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Curbs

Total Parking Spaces 20

Private Pool No

Building

Lot Description 36-40 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 01425205

Energy Description 12000.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Listed by Benjamin Lin • 1000 Realty Corporation • 626-233-3678

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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