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Sherry Ramos

sherry.ramos@engelvoelkers.com +1(818) 429-2793

$ 5,095,000

Est. payment -/mo

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Active

317 S Flower ST Santa Ana, CA 92703

10,350 SqFt

UPDATED:

09/30/2024 06:30 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 10,350 sqft

Price per Sqft $492

Subdivision ,Other

MLS Listing ID OC24178548

HOA Y/N No

Year Built 1985

Lot Size 6,146 Sqft

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.

Location

State CA

County Orange

Area 69 - Santa Ana South Of First

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 20.0

Garage Description 20.0

Pool None

Community Features Storm Drain(s), Street Lights, Suburban, Sidewalks

Total Parking Spaces 26

Private Pool No

Building

Lot Description 16-20 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 00820327

Energy Description 550.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

Listed by Ruben Khorsandi • Alliance Investment RE Group • 949-683-6662

Sherry Ramos

Advisor | License ID: 01271018

+1(818) 429-2793

Sherry Ramos

317 S Flower ST Santa Ana, CA 92703

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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317 S Flower ST