1003 W Myrtle Street Active Save Request In-Person Tour Request Virtual Tour
Santa Ana,CA 92703
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25125649
Bedrooms 7
Property Sub-Type Res Income 2-4 Units
Property Description
Creative purchase options available** such as lease options, seller carry any other creative terms welcome! Turnkey Investment ** STRONG 5% Cap Rate, Enjoy solid returns $107,000+ annual income from day one based on current rents, with room for upside through rent increases. ** Reliable tenant already in place, paying over market rent over the past 4 years! THREE Completely separate, detached residences. Total TWO buildings STAND ALONE & SEPARATELY metered for gas, electric and water, each has its own mailing address: 1001 and 1003 W Myrtle. Nine (9) spacious rooms, 4 Full Bath, 3 Full Kitchen & 5 car garage. Total 14 parking spots on this HUGE 10,000 lot ** In 2022 MAJOR REMODEL for both buildings was done, new windows, new floors everywhere & kitchen & bathroom cabinets You can ADD ** an ADU in the 3-car garage and build an addition to the front house in the 2-car garage. You will end up with FOUR completely detached, separate residences, bringing in an approx. $40,000 EXTRA annual rent from those ** TWO ADU alone ** Seller has APPROVED PLANS from the city & Building PERMIT for ADU (see supplements) Will be TRANSFERRED at NO additional cost Reach CAP rate - Upto 8% CAP IN 1986, BACK house SFR was build split into 2 residences from inside. Original FRONT single family residence, one level, 2 beds & 1 FULL Bath, front, side and backyard. One of the strongest rental markets in So Cal. The City of Santa Ana is a historic city w/ vibrant downtown located in OC. Even with only a 3% rent increase - you will end up with over $3,500 additional rent each consecutive year. CENTRALLY
Location
State CA
County Orange
Zoning Other
Exterior
View Y/N No
Building
Story 2