819 Cypress Ave
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819 Cypress Ave
7 Unit Block of Flats £1,339,090 (£191,299/Unit) 6.22% Net Initial Yield Santa Ana, CA 92701
Investment Highlights
- Sought After Rental Location, Surrounded by Single-Family Homes
- 5 of 7 Interiors Renovated, Partial New Roof & Windows
- 1973 Construction
- Well Designed 1 & 3-Bedroom Units Including Single-Story Cottages
- Over 2:1 Parking Ratio
Executive Summary
PRICE REDUCED! Morgan Skenderian is pleased to offer 819 Cypress Avenue, a 6+1 apartment complex located on the beautiful tree-lined street of Cypress Avenue in the city of Santa Ana. This 4,405 SF multifamily property boasts two, single-story cottage style buildings with private yards at the front of the property and a standalone fourplex at the rear of the property. Tenants enjoy the high-quality interior finishes and tranquil residential setting, along with ample parking at over a 2:1 ratio. A desirable construction age of 1973, coupled with strong ownership/management that have renovated five of the seven interiors, make this investment an ideal candidate for the investor looking to produce immediate cash flow with minimal efforts.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£122,001
|
£27.70
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£3,660
|
£0.83
|
| Effective Gross Income |
£118,341
|
£26.87
|
| Taxes |
£16,047
|
£3.64
|
| Operating Expenses |
£19,020
|
£4.32
|
| Total Expenses |
£35,067
|
£7.96
|
| Net Operating Income |
£83,274
|
£18.90
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £122,001 |
| Annual Per SF | £27.70 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £3,660 |
| Annual Per SF | £0.83 |
| Effective Gross Income | |
|---|---|
| Annual | £118,341 |
| Annual Per SF | £26.87 |
| Taxes | |
|---|---|
| Annual | £16,047 |
| Annual Per SF | £3.64 |
| Operating Expenses | |
|---|---|
| Annual | £19,020 |
| Annual Per SF | £4.32 |
| Total Expenses | |
|---|---|
| Annual | £35,067 |
| Annual Per SF | £7.96 |
| Net Operating Income | |
|---|---|
| Annual | £83,274 |
| Annual Per SF | £18.90 |
Property Facts In Escrow
| Price | £1,339,090 | Building Class | C |
| Price Per Unit | £191,299 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 4,405 SF |
| Net Initial Yield | 6.22% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.98 | Number of Floors | 2 |
| No. Units | 7 | Year Built | 1973 |
| Property Type | Residential | Parking Ratio | 2.72/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | £1,339,090 |
| Price Per Unit | £191,299 |
| Sale Type | Investment |
| Net Initial Yield | 6.22% |
| Gross Rent Multiplier | 10.98 |
| No. Units | 7 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 4,405 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1973 |
| Parking Ratio | 2.72/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Balcony
- Kitchen
- Tub/Shower
- Patio
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 6 | £1,492 | - |
| 3+1 | 1 | £1,768 | - |
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Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 011-052-01 | Total Assessment | £1,427,328 |
| Land Assessment | £1,258,415 | Annual Taxes | £16,047 (£3.64/sf) |
| Improvements Assessment | £168,914 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
011-052-01
Land Assessment
£1,258,415
Improvements Assessment
£168,914
Total Assessment
£1,427,328
Annual Taxes
£16,047 (£3.64/sf)
Tax Year
2023
zoning
| Zoning Code | R2 |
| R2 |
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819 Cypress Ave
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