Skip To Content

317 S Flower Street

Santa Ana, CA 92703
  • $5,095,000
  • STATUS: ACTIVE
  • ON SITE: 38 Days
  • ID#: OC24178548
UPDATED: 51 min ago
$5,095,000
  • 1
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence. We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.

Monthly Payment Calculator

San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.forsalesandiego.com/homes/154395240
Print Image

317 S Flower Street Santa Ana, CA 92703

  • Price: $5,095,000
  • Status: ACTIVE
  • On Site: 38 Days
  • Updated: 51 min ago
  • ID#: OC24178548
1
Beds
0
Baths
0
½ Baths
0.14
Acres
Neighborhood:
Oc - Santa Ana (92703)
County:
Orange
Area:
Oc - Santa Ana (92703)
Property Description
We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence. We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
Exterior Features

Pool N/K Site Sidewalks

Interior Features

Total Baths Unit1 1 Total Baths Unit2 1

Property Features

Actual Cap Rate 6.2 Annual Expense Actual 112161 Buildings 1 Cfd Mello Roos Fee 4911.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 11.91 Gross Scheduled Income Actual 410400 Home Owners Fees 0.0 Monthly Total Fees 409 Tenant Pays TrashWaterElectricityGas/Propane Unit Number For Unit1 1 Unit Number For Unit2 2 Unit1 Rent Actual 1665.0 Unit2 Rent Actual 1910.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Ruben Khorsandi of Alliance Investment RE Group: 949-683-6662. Listing information © 2024 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
https://bt-photos.global.ssl.fastly.net/sandiego/orig_boomver_1_306253119-1.jpg https://bt-photos.global.ssl.fastly.net/sandiego/orig_boomver_1_306253119-1.jpg https://bt-photos.global.ssl.fastly.net/sandiego/orig_boomver_1_306253119-1.jpg
Logo
Yarbrough Group
2445 Truxtun Rd., Ste 108
San Diego CA, 92106