1426 Minnie ST Active Save Request In-Person Tour Request Virtual Tour
Santa Ana,CA 92707
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