$ 5,095,000
317 S Flower ST Santa Ana, CA 92703
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$ 5,095,000
Est. payment | /mo
6,146 Sqft Lot
$ 5,095,000
Est. payment | /mo
6,146 Sqft Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision ,Other
MLS Listing ID OC24178548
HOA Y/N No
Year Built 1985
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.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 20.0
Garage Description 20.0
Pool None
Community Features Storm Drain(s), Street Lights, Suburban, Sidewalks
Total Parking Spaces 26
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 00820327
Energy Description 550.0
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Listed by Ruben Khorsandi • Alliance Investment RE Group • 949-683-6662