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Jerrod Waller

jwaller@sdrealtyco.com +1(858) 822-8634

$5,400,000

Est. payment - /mo

4 Beds

4 Baths

0.66 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID PW25262411

Bedrooms 4

Lot Size 0.659 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

IMPORTANT TO NOTE: 11 OF THE 1-BEDROOMS ARE LARGE 729 SQFT. UNITS WITH DENS. THE DENS ARE UTILIZED AS A SECOND BEDROOM AND RENTS ARE CLOSER TO A 2-BEDROOM RENTAL LEVEL! We are pleased to present Casa Los Amigos, a 22-Unit condo community, currently being operated as apartments, in the city of Santa Ana, CA. The property features a mix of spacious 1 and 2-bedroom units, equipped with laminate wood flooring, balconies/patios, stainless steel sinks, gas wall heaters, wall a/c, and ceiling fans. The property amenities include controlled access, gated and covered parking (19 covered, 8 open), lush landscaping, and a shared laundry facility. The asset has been well maintained and professionally managed throughout ownership. Years prior, ownership converted and permitted the units into individually parceled condos, providing a buyer with the opportunity to sell the units individually. Casa Los Amigos currently generates a 6.7% cap rate on existing income, with a proforma cap rate of 8.7%. This well-maintained, pride-of-ownership asset offers investors strong in-place income with significant and flexible upside potential in an excellent location.

Location

State CA

County Orange

Zoning Public Rec

Direction Driving North on Grand Ave., Turn Right Onto 17th St., Turn Left Onto N. Tustin Ave., Turn Right Onto E. Lenita Ave., Property W

Interior

Heating Forced Air Unit

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 93095401

Acceptable Financing Conventional

Listing Terms Conventional

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Listed by Gary Tolfa, DRE#00955403 Triqor Group

NEARBY SCHOOL & BUSINESS

“If you're looking for a dedicated and knowledgeable real estate professional who will go above and beyond to help you achieve your goals, I'm here to serve you. Contact me today to learn more about how he can assist you with all your real estate needs.”

+1(858) 822-8634

jwaller@sdrealtyco.com

3555 5th Avenue 3rd Floor, San Diego, CA 92103

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2221 E Lenita Lane Santa Ana, CA 92705