2516 S Rosewood Avenue, Santa Ana, CA 92707
Fourplex
Sold May 2023
Listing Agent: Joshua Barut (DRE #01971720) · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 562-457-8126 · Bought with: Hung Hoang · New Empire Realty · MLS #SB23048573 · Source: CRMLS
About this fourplex
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.
Listing description from the May 2023 sale, as reported to CRMLS.
Sale history