1010 N Bewley Street
Santa Ana,
CA
92703
Property Details
| List Price: |
$4,599,000 |
| Beds: |
16 |
| Baths: |
8 |
| Status: |
Active |
SqFt: |
8435 |
| Agency: |
Advance Estate Realty |
Description/Comments
| Lot Size: |
42,098 sqft |
| Property Type: |
MultiFamily |
| Year Built: |
1944 |
| Notes: |
Welcome to an exceptional investment opportunity in a high-demand area! This property offers a rare combination of fully remodeled detached units and substantial redevelopment potential, making it an ideal choice for investors seeking immediate rental income and future growth prospects. Fully Remodeled Units: Each of the 9 detached units has been completely remodeled to the highest standards, featuring luxurious upgrades such as new luxury vinyl floors, AC split systems, brand-new kitchen cabinets with quartz countertops, and upgraded bathrooms. Additionally, all units boast new double-pane windows, ensuring energy efficiency and tenant comfort. Each unit offers a comfortable 2-bed, 1-bath layout, perfect for attracting tenants seeking modern and functional living spaces. Tenants enjoy the convenience of private yards with a fenced perimeter, providing privacy and outdoor space. Furthermore, the property offers 1 or 2 car garages for each unit, along with long driveways capable of accommodating up to 4 additional vehicles. Tenants are responsible for their own utilities and yard maintenance, minimizing landlord expenses and ensuring hassle-free management. With recent renovations and tenant responsibilities, maintenance costs are kept to a minimum, maximizing profitability for the owner. Situated in an area with high rental demand, vacancy rates are virtually zero, guaranteeing consistent rental income and financial stability. The property sits on nearly 1 acre of land, presenting significant potential for redevelopment. City ordinances permit the construction of up to 18 townhouse/condo-style units (including density bonus), offering lucrative expansion opportunities for the future. Despite the potential for redevelopment, the property generates almost market rent with a CAP ratio close to 5%, providing a solid return on investment while pursuing permits for redevelopment. Don't miss out on this exceptional investment opportunity that combines immediate rental income with the potential for future growth. Whether you're looking to expand your investment portfolio or capitalize on redevelopment possibilities, this property offers endless possibilities. Schedule a showing today to explore the potential of this lucrative investment! |
| MlsNumber: |
OC24056555 |
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| Listing Provided By: |
Advance Estate Realty, original listing |
| Name: |
Advance Estate Realty |
| Phone: |
(714) 894-4306 |
| Office Name: |
Advance Estate Realty |
| Office Phone: |
(714) 894-4306 |
| Agent Name: |
Long Nguyen |
| Disclaimer: |
Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |
