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    14871 Van Buren St. Street

    Midway City, CA 92655
    • $1,795,000
    • STATUS: Active
    • ON SITE: 36 days
    • ID#: NP21069473
    Price Reduced
    UPDATED: 18 min ago
    $1,795,000
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,203
      SQFT
    • $427
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1988
    County:

    School Ratings & Info

    Description

    The Van Buren Apartments is a 4+1 Unit apartment complex built in 1988 in the heart of Midway City. This unique opportunity affords a prospective buyer the ability to obtain a 2-4 unit residential loan, and enjoy the benefits of a 5th non-conforming unit. The subject lot has 9 total parking spaced including 4 garages. The Asset's interiors and exterior have been extensively renovated over the past year. All 5 units have been turned within the last 2 years, including a newly rehabilitated 2 bedroom 2.5 bath town-home style unit. Other rehabilitation areas include: exterior paint, landscaping, garage/storage doors, carport, and a brand new roof. All aspects of the building are in excellent condition, this is a turnkey asset.The Van Buren Apartments offer an astute investor the opportunity to purchase an income producing property with strong rents in a unique growing market. The property has only sold once since its development. The complex is located in a quiet residential neighborhood just off of Bolsa and Beach Blvd. The area has a handful of brand new developments, including a block-long affirmed housing complex built in 2020. With attractive Interest Only financing, a new investor can achieve a 6%+ cash on cash return at full list price.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-09T20:31:48.88. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/115735684
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    14871 Van Buren St. Street Midway City, CA 92655

    • Price: $1,795,000
    • Status: Active
    • Updated: 18 min ago
    • ID#: NP21069473
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    4,203
    SQFT
    $427
    $/SQFT
    1988
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    65 - N of Blsa, S of GGrv, E of Bch, W of Brookhrs
    Property Description
    The Van Buren Apartments is a 4+1 Unit apartment complex built in 1988 in the heart of Midway City. This unique opportunity affords a prospective buyer the ability to obtain a 2-4 unit residential loan, and enjoy the benefits of a 5th non-conforming unit. The subject lot has 9 total parking spaced including 4 garages. The Asset's interiors and exterior have been extensively renovated over the past year. All 5 units have been turned within the last 2 years, including a newly rehabilitated 2 bedroom 2.5 bath town-home style unit. Other rehabilitation areas include: exterior paint, landscaping, garage/storage doors, carport, and a brand new roof. All aspects of the building are in excellent condition, this is a turnkey asset.The Van Buren Apartments offer an astute investor the opportunity to purchase an income producing property with strong rents in a unique growing market. The property has only sold once since its development. The complex is located in a quiet residential neighborhood just off of Bolsa and Beach Blvd. The area has a handful of brand new developments, including a block-long affirmed housing complex built in 2020. With attractive Interest Only financing, a new investor can achieve a 6%+ cash on cash return at full list price.
    Exterior Features

    Carport Spaces 5 Carport YN Yes Fencing Wood Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 5 Parking Features CarportGarage Parking Total 9 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Accessibility Features Parking Appliances Gas Water Heater Common Walls No Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Flooring CarpetTileVinyl Heating Central Heating YN Yes Interior Features Ceiling Fan(S)

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.47 Common Interest None Community Features Suburban Garage YN Yes Gross Income 445 Gross Scheduled Income 117696 Insurance Expense 1681 Land Lease YN No Laundry Features Common Area Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Net Operating Income 80244 New Construction YN No New Taxes Expense 21624 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 5 Number Of Units Leased 5 Operating Expense 33922 Other Expense 5640 Rent Control YN Yes Senior Community YN No Sewer Unknown Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Source Public

    Listing provided courtesy of Barry Mycorn of R.L.M. Equities, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-09T20:31:48.88. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
     
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