Description
Rare opportunity to own a residential income property in a gated community in Santa Ana/South Coast Metro area called Avenue E. Conveniently located 2 miles from South Coast Plaza, IKEA, and only a 10-15 minute drive to & from UC Irvine, Orange Coast College, and Santa Ana College. It is producing a stable passive income of $31,836 in cash flow each year (Proforma $35,428). Well-maintained property. The Seller/Landlord is renting out each bedroom and bath to longtime individuals taking good care of the property. We recently toured the interior to find it was in very good condition. The present tenants share the kitchen, living room, and Laundry. The attached double-car garage is shared by two of the tenants. Fully occupied, and all tenants are current on rent. The new owner can keep all the month-to-month tenants. This is a 1031 Exchange with no additional costs to the buyer. An accepted offer will be contingent on the buyers seeing and approving the interior. One-of-a-kind income property, a rare find! Don't miss it!
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4BEDS
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N/AACRES
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3BATHS
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01/2 BATHS
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1,713SQFT
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$437$/SQFT
Description
Rare opportunity to own a residential income property in a gated community in Santa Ana/South Coast Metro area called Avenue E. Conveniently located 2 miles from South Coast Plaza, IKEA, and only a 10-15 minute drive to & from UC Irvine, Orange Coast College, and Santa Ana College. It is producing a stable passive income of $31,836 in cash flow each year (Proforma $35,428). Well-maintained property. The Seller/Landlord is renting out each bedroom and bath to longtime individuals taking good care of the property. We recently toured the interior to find it was in very good condition. The present tenants share the kitchen, living room, and Laundry. The attached double-car garage is shared by two of the tenants. Fully occupied, and all tenants are current on rent. The new owner can keep all the month-to-month tenants. This is a 1031 Exchange with no additional costs to the buyer. An accepted offer will be contingent on the buyers seeing and approving the interior. One-of-a-kind income property, a rare find! Don't miss it!
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Listing courtesy of Sarah Chan of Dilbeck Real Estate: .