902 East 17th Street is an 18-unit multifamily asset in Santa Ana, which is a core market in Orange County. The property is strategically bound by the intersection of the 5 Freeway to its South West, the 55 Freeway to its East and the 22 Freeway to its North. The asset is 1.4 miles from Downtown Santa Ana, 1.2 miles from Orange County School of the Arts, and 10 minutes to South Coast Plaza. This uniquely positioned, two-story property was built in 1954 and consists of 3 two-bedroom/one-bathroom units and 15 one-bedroom/one-bathroom units. It offers sixteen dedicated covered parking spaces with space for additional parking and ample street parking. The building was repainted within the past 5 years. Some of the rear parking spots benefit from having their support columns newly reinforced, which saves a new investor thousands in capital expenditures. Rent collections have been 100% throughout COVID-19. The asset is well-maintained yet positioned for future renovations to unlock its 37% rental upside potential. The asset’s desirable location fundamentals minimize lease-up time and offer a new investor high rental potential with a stable resident profile. This is a rare opportunity for an investor to acquire a true value-add property with strong location fundamentals in a high-density and high-demand submarket.
Based on information from California Regional Multiple Listing Service, Inc. as of December 7th, 2021 at 1:30am PST. 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.