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1010 Bewley Street, Santa Ana

$4,599,000 - 16 Beds - 8 Baths - .97 Acres - 33 DOM

Welcome to an exceptional investment opportunity in a high-demand area! This property offers a rare combination of fully remodeled detached units and substantial redevelopment potential, making it an ideal choice for investors seeking immediate rental income and future growth prospects. Fully Remodeled Units: Each of the 9 detached units has been completely remodeled to the highest standards, featuring luxurious upgrades such as new luxury vinyl floors, AC split systems, brand-new kitchen cabinets with quartz countertops, and upgraded bathrooms. Additionally, all units boast new double-pane windows, ensuring energy efficiency and tenant comfort. Each unit offers a comfortable 2-bed, 1-bath layout, perfect for attracting tenants seeking modern and functional living spaces. Tenants enjoy the convenience of private yards with a fenced perimeter, providing privacy and outdoor space. Furthermore, the property offers 1 or 2 car garages for each unit, along with long driveways capable of accommodating up to 4 additional vehicles. Tenants are responsible for their own utilities and yard maintenance, minimizing landlord expenses and ensuring hassle-free management. With recent renovations and tenant responsibilities, maintenance costs are kept to a minimum, maximizing profitability for the owner. Situated in an area with high rental demand, vacancy rates are virtually zero, guaranteeing consistent rental income and financial stability. The property sits on nearly 1 acre of land, presenting significant potential for redevelopment. City ordinances permit the construction of up to 18 townhouse/condo-style units (including density bonus), offering lucrative expansion opportunities for the future. Despite the potential for redevelopment, the property generates almost market rent with a CAP ratio close to 5%, providing a solid return on investment while pursuing permits for redevelopment. Don't miss out on this exceptional investment opportunity that combines immediate rental income with the potential for future growth. Whether you're looking to expand your investment portfolio or capitalize on redevelopment possibilities, this property offers endless possibilities. Schedule a showing today to explore the potential of this lucrative investment!

Listing Agent
Long Nguyen - Advance Estate Realty

Essential Information

For 1010 Bewley Street, Santa Ana
  • MLS® # OC24056555
  • Price $4,599,000
  • Bedrooms 16
  • Bathrooms 8.00
  • Acres 0.97
  • Year Built 1944
  • Type Residential Income
  • Sub-Type Apartment
  • Status Active

Community Information

For 1010 Bewley Street, Santa Ana
  • Address 1010 Bewley Street
  • Area 70 - Santa Ana North of First
  • City Santa Ana
  • County Orange
  • Zip Code 92703

Amenities

For 1010 Bewley Street, Santa Ana
  • Parking Spaces 14
  • # of Garages 14
  • Pool None

Utilities

For 1010 Bewley Street, Santa Ana

Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

Parking

For 1010 Bewley Street, Santa Ana

Asphalt, Door-Single, Driveway, Garage, Garage Door Opener

Garages

For 1010 Bewley Street, Santa Ana

Asphalt, Door-Single, Driveway, Garage, Garage Door Opener

Interior

For 1010 Bewley Street, Santa Ana
  • Interior Vinyl
  • Appliances Built-In Range, Disposal
  • Heating Ductless
  • Cooling Ductless
  • Fireplaces None
  • # of Stories 1
  • Stories One

Interior Features

For 1010 Bewley Street, Santa Ana

Quartz Counters, All Bedrooms Down, Bedroom on Main Level, Main Level Primary

Exterior

For 1010 Bewley Street, Santa Ana
  • Windows Double Pane Windows
  • Roof Shingle

Lot Description

For 1010 Bewley Street, Santa Ana

Front Yard, Garden, Near Public Transit

Additional Information

For 1010 Bewley Street, Santa Ana
  • Date Listed March 20th, 2024
  • Days on Market 33

Listing Details

For 1010 Bewley Street, Santa Ana
  • Agent Long Nguyen
  • Office Advance Estate Realty

Based on information from California Regional Multiple Listing Service, Inc. as of April 24th, 2024 at 5:35pm PDT. 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.