317 S Flower St, Santa Ana, California, United States | Homes For Sale at GLOBAL LISTINGS

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Home For Sale

$5,095,000

317 S Flower St
Santa Ana, California, United States

4bd 20ba

Listed By: Realtyww Info

Listed On: 09/03/2024

Listing ID: GL11356709 View More Details

Description

We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500, 000 spent in the last 2 years in both the interiors and exterior. 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 along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And 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 and to conduct their own due diligence.

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Listed by: Ruben Khorsandi