317 Flower St Santa Ana, CA 92703
- Commercial real estate
- 10,350 SF
- 0.28 lot acres
Current Use by Public Records
- Garnsey LP / Apartment Building
- Gabriel Mobile Home Llc / Auto Insurance Agency
Property Details for 317 Flower St
- Year built
- 1985
- Lot size
- 0.28 lot acres
- Property size
- 10,350 SF
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Ana
- County
- Orange
- State
- California
- Longitude
- -117.8761453
- Latitude
- 33.7427125
