Property listed by Justin White, Justin White 714.231.2537
$2,540,000
Excellent opportunity to acquire a 10-unit multifamily building on the border of Santa Ana and Tustin. Located at 549 N Tustin Ave, this multifamily asset was built in 1976. It offers ten large and well maintained 1 bedroom + 1 bathroom units. The building boasts a total of 7,040 gross… Read More rentable square feet and is part of a community of 35 similar buildings. The complex is managed by an HOA which staffs an on-site management office. Gated access, two pool areas, a large playground, off-street parking and on-site laundry facilities make the property particularly appealing for renters and landlords.
The property conveniently located right on the border of Santa Ana and Tustin with onramps to both the 55 and 5 freeways a couple of minutes away. The property is walking distance to Subway Restaurant, Country Café, Noodle Place and more. Just to the North of the property are multiple hospitals and medical clinics offering convenient care and job opportunities. Sports fans will find the location particularly appealing due to its convenient location about fifteen minutes by car to The Honda Center and Angel Stadium.
For the right investor, this multifamily asset represents a the perfect opportunity to generate years of steady cash flow with minimal management or maintenance responsibilities. With the HOA handling management, maintenance and leasing this is the perfect passive investment for an owner who is looking for a completely hands-off ownership experience. As units turn over, the upside in rental income will be easily achievable. Read Less
Listing Snapshot
Days Online
5
Last Updated
Property Type
Apartment
Lot Size
8.42 Acres
Year Built
1976
MLS Number
PW26219588
Additional Details
Building
Built in 1976, 1 building, 2 stories, Entry level: 1, Entry location: Main
Community
Suburban, Pool
Expenses
Maintenance: $1,200, Operating: $73,626, Other Expense: $42,000
Income
Gross Income: $223,128, Gross ScheduledIncome: $223,128, Net Operating Income: $142,808
Interior Features
Balcony
Laundry
CommonArea
Lot
8.4206 acres, NearPublicTransit, Yard
Parking
10 carport spaces, 10 total parking spaces, Carport
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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