56
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$1,668,000
Est. payment /mo
7 Beds
4 Baths
9,583 Sqft Lot
Active
1003 W Myrtle Street Santa Ana, CA 92703
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW24206655
Bedrooms 7
HOA Y/N No
Lot Size 9,583 Sqft
Property Sub-Type Res Income 2-4 Units
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 d
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.
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 Oc - Santa Ana (92703)
Zoning Other
Building
Lot Description Curbs, Sidewalks
Story 2
Lot Size Range 7500-10889 SF
Level or Stories 1 Story
Others
Monthly Total Fees $79
Acceptable Financing Exchange
Space Rent $2,780
Listing Terms Exchange
Listed by Carmen Abram Tawfik • T.N.G. Real Estate Consultants