1001 Myrtle St Santa Ana, CA 92703
Call to check price and availability
Three-unit rental portfolio, high potential.
Property size:
3,043 SFProperty Features for 1001 Myrtle St
General Information
- Property type
- Multifamily properties
- Square Feet
- 3,043 SF
- Class
- C
Building Details
- Year Built/Renovated
- 1986/2022
- Buildings
- 2
- Stories
- 2
- Units
- 3
Listing Agency: TNG Real Estate Consultants Listing Agent: Carlos Barron
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional multifamily investment opportunity in Santa Ana, CA, presents a rare chance to acquire a three-unit property with significant upside potential. The property, comprised of two buildings on a large 9,583 sq ft lot, features a total of 3,043 sq ft of net rentable space. Currently boasting 100% occupancy and a strong NOI of $86,279, the property offers a 5.08% cap rate. However, approved plans and permits (over $27,000 in design and city fees already paid) are in place to add a significant amount of living space, including a potential Accessory Dwelling Unit (ADU), which is projected to increase the NOI to $148,360 and the cap rate to 8.74%. The existing units are well-maintained, having undergone major renovations in 2022, including new paint, double-pane windows, flooring, bathrooms, kitchens, and fixtures. The property includes 14 parking spaces and is conveniently located near major freeways (22, 5, 57), downtown, schools, shopping, and parks. Each unit has separate gas, electric, and water meters. The property is zoned R2. All tenants are on month-to-month leases at market value. The asking price is $1,698,000, or $566,000 per unit. A property video is available upon request. Offers are subject to interior inspection. This is a truly motivated seller situation.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Santa Ana
- County
- orange
- State
- California
- Longitude
- -117.8787581
- Latitude
- 33.7421712
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Three-unit rental portfolio, high potential.
Where is this multifamily property located?
The property is located at 1001 Myrtle St Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,698,000.
What are key features of this property?
This property features: 8% CAP rate potential.; Substantial income increase of approximately $40,000 annually.; ADU and front house addition permitted.
