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    317 Flower St Santa Ana, CA 92703

    Sponsored
    For Sale
    $5,095,000

    20-unit, renovated apartment building, 6.2% cap rate.

    Property size:
    10,350 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 20-unit apartment building in Santa Ana, California presents a compelling investment opportunity. Boasting a 6.20% cap rate (actual, not pro forma), this turnkey property offers significant potential for passive income. The 10,350 square foot building, constructed in 1985 and extensively renovated in 2021, sits on a 0.28-acre lot and features a desirable SD40 zoning designation. All 20 units are currently 100% occupied, each equipped with a private balcony or patio, individually metered gas and electric, and updated interiors. Recent renovations, totaling approximately $500,000, encompass new kitchens with quartz countertops and stainless steel appliances, updated bathrooms with new vanities and tile shower walls, high-efficiency toilets, LED recessed lighting, and new windows. Exterior improvements include fresh paint, new staircases and decking, a security camera system, upgraded exterior lighting, and refreshed landscaping. The property also includes a laundry room with owned equipment, generating additional income. The building is equipped with a fire sprinkler system. Parking is provided at a ratio of one space per 1,000 square feet. While current rents are strong, there's potential for further increases, enhancing cash flow. The asking price is $5,095,000, or $254,750 per unit. All information is deemed reliable, but buyers are encouraged to verify details and conduct their own due diligence.

    Property Features for 317 Flower St

    General Information

    Property type
    Multifamily properties
    Square Feet
    10,350 SF
    Class
    C
    Lot Size
    12,197 SF

    Building Details

    Year Built/Renovated
    1985/2021
    Buildings
    1
    Stories
    2
    Units
    20

    HighLights

    • 100% occupied, high‑rent, turnkey 20‑unit apartment building.
    • Completely renovated interiors with new kitchens, bathrooms, appliances, and fixtures.
    • Individually metered gas & electric; covered and open parking.
    • Complete interior and exterior renovation in 2021.
    • New exterior paint, windows, stairs, decking, security system, lighting, and landscaping.
    • Each unit features a patio/balcony and individual water heater.
    Property Profile Location Intelligence

    Current Use by Public Records

    Garnsey LP Apartment Building Gabriel Mobile Home ... Auto Insurance Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Ana
    County
    Orange
    State
    California
    Longitude
    -117.8761453
    Latitude
    33.7427125

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    FAQs

    What type of property is this?
    Multifamily property - 20-unit, renovated apartment building, 6.2% cap rate.
    Where is this multifamily property located?
    The property is located at 317 Flower St Santa Ana, CA.
    What is the asking price?
    The asking price for this property is $5,095,000.
    What are key features of this property?
    This property features: 100% occupied, high-rent, turnkey 20-unit apartment building.; Completely renovated interiors with new kitchens, bathrooms, appliances, and fixtures.; Individually metered gas & electric; covered and open parking.
    Request Owner's contact information
    317 Flower St Santa Ana, CA 92703
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    Santa Ana, CA 92703
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    317 Flower St Santa Ana, CA 92703
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