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$5,775,000
Est. payment /mo
16,897 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 16,897 sqft
Price per Sqft $341
MLS Listing ID CRPW25262411
HOA Y/N No
Year Built 1969
Lot Size 0.659 Acres
Acres 0.66
Property Sub-Type Other
Property Description
IMPORTANT TO NOTE: 11 OF THE 1-BEDROOMS ARE LARGE 729 SQFT. UNITS WITH DENS. THE DENS ARE UTILIZED AS A SECOND BEDROOM AND RENTS ARE CLOSER TO A 2-BEDROOM RENTAL LEVEL! We are pleased to present Casa Los Amigos, a 22-Unit condo community, currently being operated as apartments, in the city of Santa Ana, CA. The property features a mix of spacious 1 and 2-bedroom units, equipped with laminate wood flooring, balconies/patios, stainless steel sinks, gas wall heaters, wall a/c, and ceiling fans. The property amenities include controlled access, gated and covered parking (19 covered, 8 open), lush landscaping, and a shared laundry facility. The asset has been well maintained and professionally managed throughout ownership. Years prior, ownership converted and permitted the units into individually parceled condos, providing a buyer with the opportunity to sell the units individually. Casa Los Amigos currently generates a 5.6% cap rate on existing income, with a proforma cap rate of 8.0%. This well-maintained, pride-of-ownership asset offers investors strong in-place income with significant and flexible upside potential in an excellent location.
Location
State CA
County Orange
Interior
Heating Forced Air
Fireplace No
Laundry Other
Building
Lot Description Irregular Lot
New Construction No
Others
Tax ID 93095401
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Listed by Gary Tolfa • Triqor Group