Santa Ana, CA 92707 1426 Minnie Street
$4,720,000
Presented By: Benjamin Lin with 1000 Realty Corporation; 626-233-3678
SQFT • 14,268
Home Details
Great cashflow! Market CAP Rate is 8.24%. Current CAP is 6%. 20 high demand rental units located in the heart of Orange County. Separate APN numbers so buyer does not need on-site manager. Amenities include a spacious and quiet central courtyard, security doors, on-site laundry, and ample surface parking. Minnie Street is located just south of Santa Ana’s Downtown and is within the Pacific Park neighborhood. The property is within 1 mile of the bustling retail corridor of Downtown Santa Ana which provides residents with convenient access to a plethora of retail, dining, and entertainment options. The property is conveniently located within 0.75 miles to Kennedy Elementary School, Lathrop Intermediate School, and Century High School. Convenient excess to I-5 freeway. Separate electric meters paid by tenants. The landlord pays for water, trash, gas, and sewer. 8-2 bedrooms and 12-1 bedroom. The rent is below market bringing upside opportunity to increase rents by new buyer. Current actual income is $403,404 with 6% CAP. Market rent is $508,800.
Presented By: Benjamin Lin with 1000 Realty Corporation; 626-233-3678
Interior Features for 1426 Minnie Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level2
General for 1426 Minnie Street
Additional Parcels Description01425206
Additional Parcels Y/NYes
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.0
Carport Y/NNo
CitySanta Ana
Community FeaturesCurbs
CountyOrange
Days on Market31
DirectionsSouth of E. Edinger Ave., & West of S. Grand Ave.
Electric Expense1200.0
Electric On Property Y/NNo
Entry Locationn/a
Fuel Expense12000.0
Garage Spaces0.0
Garage Y/NNo
Gross Income403404.0
HOA0.0
Home Owner AssocNo
Home Warranty Y/NNo
Insurance Expense9600.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet20736.0
Lot Size UnitsSquareFeet
MLS Area69 - Santa Ana South of First
MaintenanceExpense13200.0
MobileHomeRemainsYNNo
Net Operating Income283408.0
New ConstructionNo
NumberOfUnitsTotal20
Operating Expense119996.0
Pool FeaturesNone
Private PoolNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision Namen/a
Tax Lot37
Taxes$59,000
TermsCash, CashToNewLoan
Trash Expense8522.0
View Y/NNo
Water Sewer Expense14074.0
Waterfront Y/NNo
Year Built1961
Year Built SourcePublicRecords
Exterior for 1426 Minnie Street
Building Area Total14268.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesThirtySixToFortyUnitsAcre
Lot Size Acres0.476
Lot Size Area20736.0
Lot Size SourcePublicRecords
Number of Buildings2
Number of Separate Electric Meters21
Number of Separate Gas Meters1
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking20.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480