Description
The Standard Avenue Apartments is a nine-unit apartment building located in the City of Santa Ana, one of the strongest rental markets in Southern California. The City of Santa Ana is a historic city with a vibrant downtown located in Orange County.
Built in 1961, the subject property offers an attractive unit mix comprised of three-, two-, and one-bedroom units totaling 6,589 square feet. Some amenities include gated entry, ample on-site parking, and an on-site laundry room. Some recent renovations and upgrades include new floors, new bathrooms, updated kitchens, and fresh paint throughout.
This offering represents a rare opportunity for an investor to achieve a 6.05% CAP Rate and 5.76% Cash-on-Cash return, on current income, for a stable, turnkey investment property in the desirable rental market of Santa Ana, California. Additionally, The Standard Avenue Apartments are well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
Location
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Listing Agent: Greg Bassirpou
Listing Office: Marcus & Millichap RE Invest
Attribution contact: 949-419-3200
