2221 E Lenita Lane, Santa Ana, CA 92705
- $5,400,000
- List Price
- $5,400,000
- Price Change
- ▼ $375,000 1777696410
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- PW25262411
- Year Built
- 1969
- Lot Size
- 28,692
- Acres
- 0.66
- Lot Location
- Irregular Lot
- Days on Market
- 137
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- One Level
- Neighborhood
- Other
Property Description
IMPORTANT TO NOTE: 11 OF THE 1-BEDROOMS ARE LARGE 729 SQFT. UNITS WITH DENS. THE DENS ARE UTILIZED AS A SECOND BEDROOM AND RENTS ARE CLOSER TO A 2-BEDROOM RENTAL LEVEL! We are pleased to present Casa Los Amigos, a 22-Unit condo community, currently being operated as apartments, in the city of Santa Ana, CA. The property features a mix of spacious 1 and 2-bedroom units, equipped with laminate wood flooring, balconies/patios, stainless steel sinks, gas wall heaters, wall a/c, and ceiling fans. The property amenities include controlled access, gated and covered parking (19 covered, 8 open), lush landscaping, and a shared laundry facility. The asset has been well maintained and professionally managed throughout ownership. Years prior, ownership converted and permitted the units into individually parceled condos, providing a buyer with the opportunity to sell the units individually. Casa Los Amigos currently generates a 6.7% cap rate on existing income, with a proforma cap rate of 8.7%. This well-maintained, pride-of-ownership asset offers investors strong in-place income with significant and flexible upside potential in an excellent location.
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Additional Information
- Pool Description
- None
- Heat
- Forced Air
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 22
- Gross Scheduled Income
- $571,954
- Operating Expense
- 192727
Listing courtesy of Listing Agent: Gary Tolfa (gary@triqorgroup.com) from Listing Office: Triqor Group.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.