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Listed by Carmen Abram Tawfik • T.N.G. Real Estate Consultants

$1,668,000

Est. payment - /mo

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3,043 SqFt

Active

1003 West Myrtle Street Santa Ana, CA 92703

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Maureen Alphonso

maureenjalphonso@gmail.com +1(805) 279-6885

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,043 sqft

Price per Sqft $548

MLS Listing ID PW-24206655

Year Built 1986

Lot Size 9,583 Sqft

Property Sub-Type Duplex

Property Description

TWO SINGLE FAMILY houses - with total THREE completely separate, detached residences. * The TWO houses are STAND ALONE & SEPARATELY metered for gas, electric and water, each has its own mailing address. Add - ADU - to the big building and build an addition for the front house, you will end up with FIVE residences. ** Seller has APPROVED PLANS from the city & Building PERMIT. Will be TRANSFERRED at NO additional cost (see supplements) Reach CAP rate - Upto 8% CAP / $40,000 annual rent increase with those TWO additions: One ADU unit (2 beds, 1 full bath) & build an addition (1 bed/1 bath & kitchen) to the FRONT HOUSE. Current INCOME $106,500 annually, from ALL 3 residences. $8,880/month - reliable tenants. Increased by another $3,450/month with ADU. Even with only a 3% rent increase - you will end up with over $3,500 additional rent each consecutive year. Currently 3 units - 9 rooms, 4 FULL bathrooms & 5 car garage can be turned to 5 units - 12 rooms and 6 bathrooms IN 1986, BACK house SFR was build 7 rooms & 3 Full Bath, split into 2 units from inside. Original FRONT single family House, one level, 2 beds & 1 FULL Bath. Sitting on a LARGE Lot approx 9,583 sq.ft ** In 2022 MAJOR REMODEL for both houses was done, new windows, new floors everywhere & kitchen & bathroom cabinets Currently leased to reliable tenants at above-market rates, this property ensures immediate income for prospective buyers. GREAT INVESTMENT. SELLERS will consider all offers. * CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways 22,5,57. DO NOT go direct, do not disturb tenants. Offers subject to interior inspection. Must see in person to appreciate the flow and floor plan. PROPERTY VIDEO and rental cash flow are available - please request it. Referrals for contractors that can get ADU started immediately will be provided too.

Location

State CA

County Orange

Area 69 - Santa Ana South Of First

Zoning R2

Interior

Interior Features 2 Staircases, Open Floorplan, Storage

Heating None

Cooling None

Flooring Laminate, Tile, Vinyl

Fireplaces Type None

Laundry Common Area, In Garage, Individual Room

Exterior

Parking Features Garage, Garage - Three Door, Garage - Two Door, On Site, Oversized, Parking Space, Public, Direct Garage Access

Garage Spaces 5.0

Pool None

Community Features Curbs, Sidewalks

Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected

View Y/N No

View None

Building

Lot Description 2-5 Units/Acre

Sewer Public Sewer

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Maureen Alphonso

Agent | License ID: 01734126

+1(805) 279-6885

1003 West Myrtle Street Santa Ana, CA 92703

Maureen Alphonso

Key Details

Location

Interior

Exterior

Building

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1003 West Myrtle Street