317 S Flower St 20 Unit Apartment Building £3,718,861 (£185,943/Unit) 6.87% Net Initial Yield Santa Ana, CA 92703

6.9% CAP RATE ON ACTUAL RENTS IN PLACE RENTS & NOT A PRO FORMA CAP RATE
Alliance Investment Real Estate Group is pleased to present Flower Street Apartments comprised of a 20 unit gated apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent over the last 5 years in both the interiors and exterior. The property is individually metered for both gas & electric and has there own water heater. 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. 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.
Agents/Broker of Record takes no responsibility for the accuracy of this information. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
Please call listing office for more information.