Description
We are pleased to present the opportunity to acquire a turnkey investment property located at 626 E. 3rd St. in Santa Ana. The property consists of four (4) fully updated one-bedroom one-bathroom units that have undergone significant interior and exterior renovations by the current owner. Property upgrades include new appliances, flooring, kitchens, bathrooms, doors, double-pane windows, paint, and A/C units, all of which have been completed to code. A new owner will benefit from all units currently achieving market rents in addition to a recent rental increase for two units, allowing for ease of management and future annual rental increases in accordance with the City of Santa Ana rent control guidelines. There is an ability to further enhance yield with the implementation of a RUBS system to minimize the expense for water and trash. The property exudes pride of ownership and is ideally situated within walking distance of Downtown Santa Ana. The asset also benefits from a large ±6,141 SF lot and is zoned SD-84, which may allow for the addition of more units to the site - buyer to verify with the City of Santa Ana. Additionally, the property is conveniently located near public transportation, including Amtrak and Metrolink stations nearby. Residents are within walking distance to numerous downtown amenities, including 4th Street Market, The Copper Door, The Yost Theater, The Frida Cinema, Santa Ana Zoo, Main Place Mall, Riverview Golf Course, along with a variety of restaurants, entertainment, and nightlife destinations. The property also offers convenient access to the 5, 55, and 22 freeways, providing an easy commute throughout Orange County and surrounding areas.
Details
| MLS # | PW26115970 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1920 |
| Days On Site | 113 |
| Listing Provided By | Greysteel California, Inc. | Christian Espinoza |
Features
| SQ Feet | 1,740 |
|---|---|
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 1 |
| Acreage | 0.14 |
Exterior
| Lot Features | Landscaped, Paved |
|---|
Parking
| Parking Features | Assigned, Driveway |
|---|---|
| Garage Yes / No | No |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Street Lights |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Santa Ana |
| Zip Code | 92701 |
| Area | 699 Not Defined |
| Listing VS Median (in 92701) | |
Price: $1,275,000 low | high Med: $1,689,000 sqft: 1,740 low | high Med: 4,671 $ / sqft: $733 low | high Med: $362 On site: 113 low | high Med: 39 | |
Market Activity 92701
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Santa Ana |
| Zip Code | 92701 |
| Area | 699 Not Defined |
| Listing VS Median (in 92701) | |
Price: $1,275,000 low | high Med: $1,689,000 sqft: 1,740 low | high Med: 4,671 $ / sqft: $733 low | high Med: $362 On site: 113 low | high Med: 39 | |