1003 - 1001 W Myrtle Street Active

Santa Ana,CA 92703

$ 1668000

5 Beds

3 Baths

3263 SqFt


Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,263 sqft

Price per Sqft $511

MLS Listing ID PW25044739

Bedrooms 5

Full Baths 3

Year Built 1986

Lot Size 9,578 Sqft

Property Sub-Type Duplex

Property Description

TWO SINGLE FAMILY houses - with total THREE completely sperate, detached residences.
* The TWO houses are STAND ALONE & SEPARATELY metered for gas, electric and water, each has own mailing address.
Add - ADU - to the big building and build an addition for the front house, you will end up with FIVE residences.
** Seller has APPROVED PLANS from the city & Building PERMIT.
Will be TRANSFERRED at NO additional cost (see supplements)
Upto 8% CAP rate & approx. $40,000 annual rent increase with those TWO additions:
One ADU unit (2 beds, 1 full bath) & build an addition (1 bed/1 bath & kitchen) to the FRONT HOUSE.
Current INCOME $106,500 annually, from ALL 3 residences. $8,880/month - reliable tenants.
Increased by another $3,450/month with ADU.
Even with only a 3% rent increase - you will end up with over $3,500 additional rent each consecutive year.
This multi-family BIG house at the back of the lot is split on the inside to 2 units, you can live in one unit and rent the other.
Unit A – feels like Single Family (no common walls), it is 2 story, upstairs - downstairs with total 5 rooms, 3 spacious bedrs & loft w/2 open rooms, can be turned to 2 rooms & 2 full bath, 3 car garage (detached) ** One bedroom and full bathroom is DOWNSTAIRS.
Unit B – is an upstairs unit - total 3 rooms, 2 spacious bedrs, spacious family/dining room, one full bath & kitchen.
Front house is a SINGLE STORY - 2 bedrs, one FULL bath & kitchen, spacious family/dining room, 2 attached garage.
** In 2022 MAJOR REMODEL done, new double-pane windows, new floors everywhere & completely new kitchen cabinets w/granite countertops. NEW bathroom vanities & tubs
LARGE Lot approx 9,583 sq.ft, additional parking, upto 9 cars (can be additional rent income)
Gate for privacy.
Over $27,000 in design & city fees paid & included in the purchase price. Whether you're looking for a multiple families residence or an investment opportunity, this income generating property has it all.
One of the strongest rental markets in So Cal. The City of Santa Ana is a historic city w/ vibrant downtown located in OC.
South of First st, close to Flower, Bishop & Bristol st.
* CENTRALLY located, close to MAJOR fwy 22,5,57.
Plenty of activities, Bowel museum, Discovery science, Outlet mall w/ indoor skate.
Must see to appreciate the flow & floor plan. Virtually staged. Pls DO NOT go direct & disturb tenants. Offers subject to interior inspection.
Pls request PROPERTY VIDEO & rental cash flow.

Location

State CA

County Orange

Area 69 - Santa Ana South Of First

Zoning R2

Interior

Heating None

Cooling None

Flooring Laminate,Tile,Vinyl

Fireplaces Type None

Laundry Laundry Room

Exterior

Parking Features Door-Multi,Door-Single,Driveway,Garage Faces Front,Garage,On Site,Off Street,Paved,One Space

Garage Spaces 5.0

Garage Description 5.0

Fence Block,Good Condition,Privacy

Pool None

Community Features Curbs,Street Lights,Sidewalks

Utilities Available Electricity Available,Natural Gas Available,Sewer Available

View Y/N No

View None

Roof Type Shingle

Building

Lot Description 2-5 Units/Acre,Landscaped,Street Level

Dwelling Type Duplex

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Santa Ana Unified

Others

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard,Trust

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