1001-1003 W Myrtle St
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1001-1003 W Myrtle St
3 Unit Block of Flats £1,347,448 (£449,149/Unit) 5.08% Net Initial Yield Santa Ana, CA 92703
INVESTMENT HIGHLIGHTS
- Two separate Houses on a BIG Lot, ADU plans & PERMITS are OBTAINED
- Reach up to 5 units (not apartments), they have patios and plenty of parking
- Reach up to 8% CAP rate, INCREASE your income substantially approx. $40,000 annually with ADU
- Please see video in the 2nd slide in gallery
EXECUTIVE SUMMARY
Please check the video tour on the 2nd slide.
You can reach CAP rate 8% and INCREASE your income substantially approx.$40,000 annually, BY ADDING an ADU & building an addition to FRONT house.
TWO separate HOUSES (not apartments) sitting on a big lot, almost 10,000 sq.ft.
ALL Construction Plans and PERMITS are OBTAINED and will be passed down at NO Additional cost. (Extra rent is based on the average rent & cap rate depends on the loan interest rate)
Even with only a 3% rent increase - you will end up with over $3,000 additional rent each consecutive year.
Currently 3 units – 9 rooms, 4 FULL bathrooms & 5 car garage can be turned to 5 units – 12 rooms and 6 bathrooms. Separate units - not apartments **
In 2022 MAJOR REMODEL for both houses was done, new paint, new windows, new floors everywhere & kitchen & bathroom cabinets
IN 1986, BACK house Single Family House, was build 7 rooms & 3 Full Bath, split into 2 units from inside.
Original FRONT House "single family", was build earlier , one level, 2 beds & 1 FULL Bath. Sitting on a LARGE Lot approx. 9,583 sq.ft **
* Each house is SEPARATELY metered for gas, electric and water.
* Currently leased to reliable tenants at above-market rent.
* CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways.
Must see in person to appreciate the flow and floor plan.
Seller has approved PLANS & permits from the city to ADD living space and a bath to the FRONT HOUSE. And to convert the 3 garages in the back HOUSE to a 2-bedroom ADU unit.
* Currently we have TWO HOUSES with a PRIVATE gate for more privacy and security.
* OVERSIZED LOT for additional parking (can fit 6-9 extra cars)
* EASY to rent CENTRALLY located, close to downtown, transportation, MAJOR freeways 22,5,57.
** ALL Tenants are on month-to-month lease and paying Excellent rent - MARKET Value.
Must see in person to see the flow and floor plan. PROPERTY VIDEO available.
Please contact Carmen Abraham (714)403-1797 directly for all details.
You can reach CAP rate 8% and INCREASE your income substantially approx.$40,000 annually, BY ADDING an ADU & building an addition to FRONT house.
TWO separate HOUSES (not apartments) sitting on a big lot, almost 10,000 sq.ft.
ALL Construction Plans and PERMITS are OBTAINED and will be passed down at NO Additional cost. (Extra rent is based on the average rent & cap rate depends on the loan interest rate)
Even with only a 3% rent increase - you will end up with over $3,000 additional rent each consecutive year.
Currently 3 units – 9 rooms, 4 FULL bathrooms & 5 car garage can be turned to 5 units – 12 rooms and 6 bathrooms. Separate units - not apartments **
In 2022 MAJOR REMODEL for both houses was done, new paint, new windows, new floors everywhere & kitchen & bathroom cabinets
IN 1986, BACK house Single Family House, was build 7 rooms & 3 Full Bath, split into 2 units from inside.
Original FRONT House "single family", was build earlier , one level, 2 beds & 1 FULL Bath. Sitting on a LARGE Lot approx. 9,583 sq.ft **
* Each house is SEPARATELY metered for gas, electric and water.
* Currently leased to reliable tenants at above-market rent.
* CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways.
Must see in person to appreciate the flow and floor plan.
Seller has approved PLANS & permits from the city to ADD living space and a bath to the FRONT HOUSE. And to convert the 3 garages in the back HOUSE to a 2-bedroom ADU unit.
* Currently we have TWO HOUSES with a PRIVATE gate for more privacy and security.
* OVERSIZED LOT for additional parking (can fit 6-9 extra cars)
* EASY to rent CENTRALLY located, close to downtown, transportation, MAJOR freeways 22,5,57.
** ALL Tenants are on month-to-month lease and paying Excellent rent - MARKET Value.
Must see in person to see the flow and floor plan. PROPERTY VIDEO available.
Please contact Carmen Abraham (714)403-1797 directly for all details.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
UNIT AMENITIES
- Microwave
- Tile Floors
- Kitchen
- Stainless Steel Appliances
- Range
- Tub/Shower
- Breakfast Nook
- Dining Room
- Family Room
- Patio
- Vinyl Flooring
- Quartz Countertops
SITE AMENITIES
- 24 Hour Access
- Gated
- Public Transportation
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+2 | 1 | - | - |
| 2+1 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 008-241-42 | Total Assessment | £825,609 (2024) |
| Land Assessment | £620,682 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £204,927 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
008-241-42
Land Assessment
£620,682 (2024)
Improvements Assessment
£204,927 (2024)
Total Assessment
£825,609 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
ZONING
| Zoning Code | R2 (R-2 zoning is a zoning district for medium density residential areas that can include single-family homes, duplexes, and secondary residential units.) |
| R2 (R-2 zoning is a zoning district for medium density residential areas that can include single-family homes, duplexes, and secondary residential units.) |
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1001-1003 W Myrtle St
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