181 N Waverly St - Apartments FOR SALE


Orange, CA 92866
$3,200,000 USD
619-987-5044
181 N Waverly St, Orange, CA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/36
null | 3.46% Cap Rate

181 N Waverly St
Orange, CA 92866


HIGHLIGHTS

  • Irreplaceable 5 units Gut Renovated Apartment in Olde Town Orange (in SFR neighborhood)
  • Gut renovated to studs in 2021-22 with all new electrical/plumbing/interiors
  • Trophy property - incredible finishes with custom tile work, frameless showers, min-split AC's, new Roof, all LED and water smart fixtures

OVERVIEW

5 unit apartment RARE opportunity in historic Olde Town Orange community, surrounded by single family homes (El Sondra Apartment Homes). This historic property was built in 1922 as the original migrant farming housing. Completely gut renovated in 2022 with amazing finishes, new electrical, plumbing (including main line sewer), roof, min-split AC's, tankless water heater, kitchens and baths (taken down to the studs). Craftsman home in the front that was redesigned for sf and functional improvements including 3 bedrooms and 2 full baths. Attached to the main house are two 1 bedroom/1 bathroom apartments. The rear structure has two 1 bedroom/1 bathroom units. The 2 car garage is detached and has laundry owned inside. Besides the uniqueness of having a multifamily property in a SFR neighborhood, this property lines wrap around the corner house giving additional sf for a great common area in the rear including hot tub and landscape furniture (dining table, chaise lounge chairs) with green screening and overhead lights. This type of property will never happen again in this community. I bought it and re-developed for my daughter and 12 girlfriends while attending Chapman (walkable to campus and the Orange circle of restaurants and services). She/they graduated and we leased up the property to market rates. Construction plans available. Mills Act possible for buyer (property tax savings). Buyer to verify all.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$924 USD /SF

# OF UNITS

5

PRICE/UNIT

$640,000

CAP RATE

3.46%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

El Sondra Apartment Homes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R-1-6

APN/PARCEL ID

386-062-02

ASK ABOUT THIS PROPERTY

Scott DeGolerImmobilier FundsMore Info
619-987-5044

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Scott DeGolerImmobilier FundsMore Info
619-987-5044

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