Closed
2516 S Rosewood Avenue
Santa Ana CA, 92707
$1,265,000
$361.43 per sqft
Closed
3,500 sqft
Multi-family
Built in 1958
Listed by Joshua Barut with Lyon Stahl Investment Real Estate, Inc. 310-425-9838
We are pleased to exclusively offer for sale this 4 unit multi-family investment located in the City of Santa Ana. The subject property features an excellent unit mix of (4) 2 Bed/1 Bath units for a total rentable square footage of 3,500. Each tenant has access to its own 1 car garage and Unit B has its own enclosed backyard. All (4) units have been recently renovated with new granite countertops, new flooring, bathtubs, water heaters, and more. Priced at a current 4.25% CAP Rate with an achievable rent upside of 37%, this offering provides strong Day 1 income figures with the potential for future growth. Each unit is separately metered for gas and electricity thus the owner is only responsible for water, sewer, and trash. This large 6,098 SF lot is strategically positioned within a mile of South Coast Metro and the confluence of Orange County's freeway system, which provides direct access to Los Angeles, San Diego, and the Inland Empire. Specifically, the property sits a mere (5) minutes from John Wayne Airport, (45) minutes from LAX and (60) from San Diego. This, in addition to the sustained demand for new development, should continue to drive both population growth and increased median household income, which ultimately provides much optimism for continued rent growth within the submarket moving forward. Lastly, Santa Ana is currently the only city in Orange County with Local RSO Ordinances, which should be perceived as a positive from an acquisition standpoint, and here's why: The Buyer(s) is offered an opportunity to purchase a multi-family asset in California w/ legislation risk already cooked into the pricing.
SB23048573
MLSⓇ ID
March 24, 2023
Listed
May 9, 2024
Updated
Map
2516 S Rosewood Avenue
Santa Ana CA, 92707
Interior Features
Total Stories
2
Laundry Description
Washer Hookup, Gas Dryer Hookup
Fireplace
Yes
Fireplace Description
None
Cooling
No
Cooling Description
None
Heating
No
Exterior/Building Features
Lot Size
0.14 Acres
Lot Features
0-1 Unit/Acre, Level, Rectangular Lot
Sewer
Public Sewer
Other Property Details
Area Name
69 - Santa Ana South of First
Days on Market
21
Garage
Yes
Garage Spaces
4
Parking
Door-Single, Garage, On Site, Garage Faces Rear, One Space
Parking Total
5
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
---|---|---|
5/18/2023 | Sold | $1,265,000 |
5/8/2023 | Price Change | $1,265,000 -3% |
5/8/2023 | Unknown | — |
4/24/2023 | Pending | — |
4/18/2023 | Under Contract | — |
Listing Contact: 310-425-9838
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/9/2024 at 3:13 PM UTC