1001 W Stevens Avenue

    Santa Ana, CA 92707
    • $2,900,000
    • STATUS: Active
    • ON SITE: 133 days
    • ID#: OC18107848
    UPDATED: 30 min ago
    $2,900,000
    • 0
      BEDS
    • 0.02
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Ratings & Info

    Description

    REDUCED PRICE!!! Best ROI on the market! But that+GGs just the beginning. This is a truly unique opportunity to have an income property better than anything else on the market. This offering consists of 10 units located in the highly desirable South Coast Metro area (1001 W. Stevens). There are 9 two-bedroom units and 1 three-bedroom unit that are fully rented with seasoned tenants and ROI calculations that are based on REAL (not projected) numbers, which means your Buyer gets condominium benefits along with apartment building convenience & revenue. Under the same ownership for over TEN years, the units have a proven track record of low vacancies (1% average), low operating costs and smooth & consistent operation. And because this is a planned community, most of the larger expenses (Insurance, landscape, utilities) as well as big-ticket capital expenses (roofs, paint, pools, termite, etc.) are included in the low HOA dues which means (best part) they are ALREADY included in the ROI projections. Few (if ANY) other listings on the market make such considerations or can boast REAL (not projected or potential) rents & expenses. Lastly, the condo community has undergone a major renovation over the past several years. Termite, roofs, pools, paint, balconies (and more) have been replaced and won+GGt need to be done again for years to decades. Contact selling Broker for more details not listed in this narrative.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-19T00:29:54.113. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/83365959

    1001 W Stevens Avenue Santa Ana, CA 92707

    • Price: $2,900,000
    • Status: Active
    • Updated: 30 min ago
    • ID#: OC18107848
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.02
    Acres
    1972
    Built
    Neighborhood:
    South Coast Terrace (Sctr)
    County:
    Orange
    Area:
    69 - Santa Ana South of First
    Property Description
    REDUCED PRICE!!! Best ROI on the market! But that+GGs just the beginning. This is a truly unique opportunity to have an income property better than anything else on the market. This offering consists of 10 units located in the highly desirable South Coast Metro area (1001 W. Stevens). There are 9 two-bedroom units and 1 three-bedroom unit that are fully rented with seasoned tenants and ROI calculations that are based on REAL (not projected) numbers, which means your Buyer gets condominium benefits along with apartment building convenience & revenue. Under the same ownership for over TEN years, the units have a proven track record of low vacancies (1% average), low operating costs and smooth & consistent operation. And because this is a planned community, most of the larger expenses (Insurance, landscape, utilities) as well as big-ticket capital expenses (roofs, paint, pools, termite, etc.) are included in the low HOA dues which means (best part) they are ALREADY included in the ROI projections. Few (if ANY) other listings on the market make such considerations or can boast REAL (not projected or potential) rents & expenses. Lastly, the condo community has undergone a major renovation over the past several years. Termite, roofs, pools, paint, balconies (and more) have been replaced and won+GGt need to be done again for years to decades. Contact selling Broker for more details not listed in this narrative.
    Exterior Features

    Carport Spaces 10.00 Entry Level 1 Entry Location 1 Garage Spaces 0.00 Lot Features Paved Lot Size Source Other Lot Size Units Square Feet Parking Features Carport DetachedGatedPermit/Decal Parking Total 10.00 Parking YN Yes Pool Features Community Pool Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 820 Average2 Bed Area Units Square Feet Average3 Bed Area 981 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Heating Wall Heater Heating YN Yes Laundry Features Community Levels One

    Property Features

    Additional Parcels Description 930414399304144293041443930414519304146993041470930414869304149693041614 Additional Parcels YN Yes Association Amenities PoolSpaGasTrashWaterDues Paid MonthlyGuard Association Fee 406.80 Association Fee Frequency Monthly Association YN Yes Building Area Units Square Feet Cap Rate 4.82 Community Features Suburban Country Us Electric Standard Elevation Units Feet Exclusions Tenant's Personal Belongings Fuel Expense 0.00 Gross Income 0.00 Gross Scheduled Income 205260.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 147086.70 New Taxes Expense 0.00 Number Of Separate Electric Meters 10 Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Number Of Units Leased 10 Number Wall AC 10 Number With Disposal 10 Number With Patio 10 Number With Range 10 Operating Expense 58173.30 Professional Management Expense 0.00 Rent Control YN No Security Features Gated With Guard Senior Community YN No Special Listing Conditions Standard Subdivision Name Other South Coast Terrace (Sctr) Tenant Pays Cable TvElectricityTelephone Total Actual Rent 17105.00 Total Expenses 0.00 Trash Expense 0.00 Utilities Cable AvailableWater Connected Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Wallace Rodecker of Rodecker, Wallace.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-19T00:29:54.113. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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