1426 Minnie St - Apartments FOR SALE


Santa Ana, CA 92707
$4,720,000 USD
626-233-3678
1426 Minnie St, Santa Ana, CA for Sale
$4,720,000 USD
Apartments - FOR SALE
1/17
null | 6% Cap Rate

1426 Minnie St
Santa Ana, CA 92707


HIGHLIGHTS

  • Cash flow! Large Potential Proforma CAP Rate is 8.24%. Market rent is $508,800.
  • Convenient access to a plethora of retail, dining, and entertainment options
  • The rent is below market.
  • located within 0.75 miles to Kennedy Elementary School, Lathrop Intermediate School, and Century High School
  • High demand rental units
  • 2 APN numbers, buyer does not need on-site manager

OVERVIEW

Great cashflow! Market CAP Rate is 8.24%. Current CAP is 6%. 20 high demand rental units located in the heart of Orange County. Separate APN numbers so buyer does not need on-site manager. Amenities include a spacious and quiet central courtyard, security doors, on-site laundry, and ample surface parking. Minnie Street is located just south of Santa Ana’s Downtown and is within the Pacific Park neighborhood. The property is within 1 mile of the bustling retail corridor of Downtown Santa Ana which provides residents with convenient access to a plethora of retail, dining, and entertainment options. The property is conveniently located within 0.75 miles to Kennedy Elementary School, Lathrop Intermediate School, and Century High School. Convenient excess to I-5 freeway. Separate electric meters paid by tenants. The landlord pays for water, trash, gas, and sewer. 8-2 bedrooms and 12-1 bedroom. The rent is below market bringing upside opportunity to increase rents by new buyer. Current actual income is $403,404 with 6% CAP. Market rent is $508,800.

FOR SALE DETAILS

PRICE

$4,720,000 USD

PRICE/SF

$331 USD /SF

# OF UNITS

20

PRICE/UNIT

$236,000

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,735 SF

ZONING

R3, Santa Ana

APN/PARCEL ID

014-252-05,014-252-06

ASK ABOUT THIS PROPERTY

Benjamin Lin1000 Realty CorpMore Info
626-233-3678

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Benjamin Lin1000 Realty CorpMore Info
626-233-3678

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.