3 Units - Santa Ana

Home Properties For Sale

3 Units - Santa Ana Off Market Deal

902 Cypress Ave., Santa Ana 92701

DRIVE-BY ONLY. Do not disturb tenants. Tenants do not know the property is for sale. Interior inspection with accepted offer.

Offered at:
$949,000

Property Description

Rare opportunity to own a historic multifamily property in Santa Ana on a tree-lined street amongst Single Family homes and apartments. The "Clothier House" originally constructed as one single family house, but was later converted into a triplex in 1930. This historic home features an exposed red brick foundation and colonial architectural style. New paint on garages and a new block wall was installed last year. The property features a large lot, courtyard for tenants, three single car garages, and separately metered for gas/electric. Currently listed as a member of the Santa Ana historical properties list and also enrolled in Mills act for property tax saving.

LIVING IN SANTA ANA

Santa Ana is a large city located in the state of California. With a population of 332,725 people and 54 constituent neighborhoods, Santa Ana is the 11th largest community in California.

Housing costs in Santa Ana are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in California.

Unlike some cities, Santa Ana isn’t mainly white- or blue-collar. Instead, the most prevalent occupations for people in Santa Ana are a mix of both white- and blue-collar jobs. Overall, Santa Ana is a city of service providers, sales and office workers, and production and manufacturing workers. There are especially a lot of people living in Santa Ana who work in maintenance occupations (12.44%), office and administrative support (11.93%), and sales jobs (9.56%).

Santa Ana, like many big cities in America, has a public transportation system, but the citizens of Santa Ana are lucky because theirs is one of the most extensive and widely used. Many commuters choose to leave their cars at home and instead use the bus to get to and from work. In fact, for some people it is feasible to forgo car ownership entirely, avoiding the cost and headache of driving in heavy traffic. The benefits include reduced air pollution and load on the road network.

The citizens of Santa Ana are slightly less educated than the national average of 21.84% for the average city or town: 13.96% of adults in Santa Ana have a bachelor's degree or advanced degree

The per capita income in Santa Ana in 2010 was $19,517, which is low income relative to California and the nation. This equates to an annual income of $78,068 for a family of four. However, Santa Ana contains both very wealthy and poor people as well.

Financial Details

Price: $949,000 Cost Per Unit: $316,333 Current GRM: 17.71 Current Cap: 4.09% Approx. Sq.Ft.: 1,800 Lot Size: 7,405
Down Payment: $332,150 Percent Down: 35% Market GRM: 15.2 Market Cap: 5.02% Cost per Sq.Ft.: $527.22 Year Built: 1904

Current Income

One 2-Bedroom 1-Bath $1,775
One 2-Bedroom 1-Bath $1,695
One 1-Bedroom 1-Bath $995
Monthly Total $4,465

Market Rents

1-Bedroom 1-Bath $1,450
2-Bedroom 1-Bath $1,875
Total Market GSI $62,400

Cash Flow Analysis

Gross Scheduled Income $53,580
Operating Expenses $14,735 (27.5%)
Net Operating Income $38,845

Acquisition Data

Down Payment $332,150
Loan Amount $616,850 (65%)

Call or E Mail to request a Marketing Package and 10 Year Financial Analysis of this property. Marketing Package includes Complete Property Information, Sales and Rent Comparable Analysis. 10 Year Financial Analysis includes Complete Cash Flow Analysis, Itemized Expenses, Expected Cash Flow, Return on Initial Equity, Expected Gross Income Increase, Tax Benefits, Mortgage Principal Reduction, Expected Appreciation, Depreciation Analysis, Adjusted Cost Basis, Capital Gains Tax On Sale and more.

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