317 S Flower Street, Santa Ana, CA 92703

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Glen Henderson

[email protected] +1(619) 889-7646

$5,095,000

Est. payment - /mo

1 Bed

2 Baths

6,146 Sqft Lot

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UPDATED:

08/30/2024 11:31 AM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC24178548

Bedrooms 1

HOA Y/N No

Lot Size 6,146 Sqft

Property Description

We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.

Location

State CA

County Orange

Area Oc - Santa Ana (92703)

Zoning Assessor

Building

Lot Description Sidewalks

Story 2

Lot Size Range 4000-7499 SF

Others

Monthly Total Fees $409

Space Rent $1,665

CFD/Mello-Roos Fee $4, 911

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Listed by Ruben Khorsandi • Alliance Investment RE Group

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

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