$ 5,095,000
317 S Flower Street Santa Ana, CA 92703
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Listed by Ruben Khorsandi • Alliance Investment RE Group
$ 5,095,000
Est. payment | /mo
10,350 SqFt
$ 5,095,000
Est. payment | /mo
10,350 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,350 sqft
Price per Sqft $492
MLS Listing ID CROC24178548
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1985
Lot Size 6,146 Sqft
Property Description
We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride o
Location
State CA
County Orange
Interior
Fireplace No
Laundry Community Facility
Building
Water Public
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