1003 - 1001 W Myrtle Street Santa Ana, CA 92703
UPDATED:
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
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1986
Lot Size 9,578 Sqft
Property Sub-Type Duplex
Property Description
* 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
Rooms
Main Level Bedrooms 1
Interior
Interior Features Breakfast Bar, High Ceilings, Multiple Staircases, Open Floorplan, Pantry, Quartz Counters, Storage, Bedroom on Main Level, Loft
Heating None
Cooling None
Flooring Laminate, Tile, Vinyl
Fireplaces Type None
Fireplace No
Appliance Electric Oven, Electric Range, Gas Oven, Gas Range, Microwave, Tankless Water Heater, Water Heater
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
Accessibility Parking
Porch Concrete, Patio
Attached Garage Yes
Total Parking Spaces 14
Private Pool No
Building
Lot Description 2-5 Units/Acre, Landscaped, Street Level
Dwelling Type Duplex
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Schools
School District Santa Ana Unified
Others
Senior Community No
Tax ID 00824142
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard, Trust
