1003 Myrtle Street, Santa Ana, CA 92703

Description

TWO SINGLE FAMILY houses - with total THREE completely sperate, detached residences. * The TWO houses are STAND ALONE & SEPARATELY metered for gas, electric and water, each has 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) Upto 8% CAP rate & approx. $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. This multi-family BIG house at the back of the lot is split on the inside to 2 units, you can live in one unit and rent the other. Unit A – feels like Single Family (no common walls), it is 2 story, upstairs - downstairs with total 5 rooms, 3 spacious bedrs & loft w/2 open rooms, can be turned to 2 rooms & 2 full bath, 3 car garage (detached) ** One bedroom and full bathroom is DOWNSTAIRS. Unit B – is an upstairs unit - total 3 rooms, 2 spacious bedrs, spacious family/dining room, one full bath & kitchen. Front house is a SINGLE STORY - 2 bedrs, one FULL bath & kitchen, spacious family/dining room, 2 attached garage. ** In 2022 MAJOR REMODEL done, new double-pane windows, new floors everywhere & completely new kitchen cabinets w/granite countertops. NEW bathroom vanities & tubs LARGE Lot approx 9,583 sq.ft, additional parking, upto 9 cars (can be additional rent income) Gate for privacy. Over $27,000 in design & city fees paid & included in the purchase price. Whether you're looking for a multiple families residence or an investment opportunity, this income generating property has it all. One of the strongest rental markets in So Cal. The City of Santa Ana is a historic city w/ vibrant downtown located in OC. South of First st, close to Flower, Bishop & Bristol st. * CENTRALLY located, close to MAJOR fwy 22,5,57. Plenty of activities, Bowel museum, Discovery science, Outlet mall w/ indoor skate. Must see to appreciate the flow & floor plan. Virtually staged. Pls DO NOT go direct & disturb tenants. Offers subject to interior inspection. Pls request PROPERTY VIDEO & rental cash flow.

Features

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• 0.22 Acres
• 2 Stories