$3,675,000
$4,137,000
11.2%For more information regarding the value of a property, please contact us for a free consultation.
0.48 Acres Lot
SOLD DATE : 02/28/2024
Key Details
Sold Price $3,675,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW23156314
Sold Date 02/28/24
HOA Y/N No
Year Built 1959
Lot Size 0.475 Acres
Property Description
We are pleased to present 1130-1138 W. Brook Street, a bread and butter portfolio consisting of 21 apartment units laid out on 3 separate parcels of land, eliminating any required expense for an on-site manager. Priced at only $197,000 per unit, this portfolio is the most affordable asset on the market in Orange County. With a projected 31% in rental upside the new investor can realize an immediate cash flow on the current rents with tremendous growth built in for the future.
Located within the Pico – Lowell neighborhood, a quiet suburban community within arms reach of Santa Ana’s finest amenities. Several grocery stores and corner markets around the neighborhood make it easy to pick up daily necessities without having to drive anywhere. Lowell, Pio Pico, and Martin Luther King Jr. Elementary Schools and Mater Dei High School are all within easy walking distance of most homes in the neighborhood, giving local students the option to head to class on foot. Just northeast of the neighborhood, folks have direct access to Flower Street Park and Angels Community Park, as well as the dining, entertainment, and artistic attractions surrounding Historic 4th Street. These att racti ve att ributes are what keep long-term paying tenants and occupied units.
Location
State CA
County Orange
Area 699 - Not Defined
Zoning R3
Interior
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 15
Pool None
Community Features Biking, Curbs, Gutter(s), Storm Drain(s), Sidewalks
Total Parking Spaces 24
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 01027322
Energy Description 10000.0
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Financing Conventional
Special Listing Condition Third Party Approval, Standard, Trust
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Bought with Matthew Hoyt • Hoyt Real Estate, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
880 Roosevelt Suite 250, Irvine, California, 92620, United States