About 1426 Minnie Street
Great cashflow! Current actual income is $430,366.36. Current actual CAP Rate is 6.7%. Market rent is $508,8000. Market CAP Rate is 8.24%. 20 high demand rental units located in the heart of Orange County. Separate APN numbers so buyer does not need on-site manager. Amenities include a spacious and quiet central courtyard, security doors, 2 on-site laundry rooms, and ample surface parking. Minnie Street is located just south of Santa Ana’s Downtown and is within the Pacific Park neighborhood. The property is within 1 mile of the bustling retail corridor of Downtown Santa Ana which provides residents with convenient access to a plethora of retail, dining, and entertainment options. The property is conveniently located within 0.75 miles to Kennedy Elementary School, Lathrop Intermediate School, and Century High School. Convenient excess to I-5 freeway. Separate electric meters paid by tenants. The landlord pays for water, trash, gas, and sewer. 8-2 bedrooms and 12-1 bedroom. The rent is below market bringing upside opportunity to increase rents by new buyer.
Features of 1426 Minnie Street
| MLS® # | AR24144156 |
|---|---|
| Price | $4,720,000 |
| Bedrooms | 18 |
| Bathrooms | 10.00 |
| Acres | 0.48 |
| Year Built | 1961 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Active |
Community Information
| Address | 1426 Minnie Street |
|---|---|
| Area | 69 - Santa Ana South of First |
| Subdivision | n/a |
| City | Santa Ana |
| County | Orange |
| Zip Code | 92707 |
Amenities
| Parking Spaces | 20 |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Lot Description | ThirtySixToFortyUnitsAcre |
|---|
Additional Information
| Date Listed | July 13th, 2024 |
|---|---|
| Days on Market | 469 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Benjamin Lin |
|---|---|
| Office | 1000 Realty Corporation |