61
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$1,590,000
Est. payment /mo
7 Beds
3 Baths
Active
1003 W Myrtle Street Santa Ana, CA 92703
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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
BACK ON THE MARKET at no fault to seller - Buyer unable to close escrow on their other 1031 replacement sales. CREATIVE FINANCING options available. LEASE OPTION. SELLER FINANCE, Seller may carry existing loan. 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. Reach CAP rate - Upto 8% CAP with the NEW ADU ** Reliable tenant already in place, paying over market rent over the past 3 years! THREE SEPERATE, detached residences. Total TWO buildings STAND ALONE, completely DETACHED. 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 ALL buildings was done, NEW windows, NEW floors everywhere, NEW 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 ADDITIONAL rent approx. $40,000 annually only from ** ADU** Seller has APPROVED PLANS from the city & Building PERMIT for ADU (see supplements) Will be TRANSFERRED at NO additional cost. IN 1986, BACK house SFR was build split into 2 residences from inside. Original FRONT single family residence is one SINGLE story, completely DETACHED with 2 beds & 1 FULL Bath, front, side and backyard. One of the strongest rental markets in So Cal.
Location
State CA
County Orange
Zoning Other
Direction Closer to Bristol, McFadden, Flower and 1st Streets.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 00824142
Listed by Carmen Abram Tawfik T.N.G. Real Estate Consultants