Natalie Miranda
marketing@thewhipplegroup.com9,147 Sqft Lot
9,147 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Tract 74200
MLS Listing ID GD25176671
HOA Y/N No
Year Built 1987
Lot Size 9,147 Sqft
Property Sub-Type Apartment
Property Description
and offered at just $272 per square foot, this asset delivers immediate income and long-term upside in one of Orange County's most dynamic rental
markets.
Each unit boasts over 1,000 square feet of living space, configured as 3-bedroom, 1-bathroom floor plans with oversized private balconies nearing
250 SF—a feature rarely found in comparable product. The property offers ample parking with 17 on-site spaces, allowing each unit to have two
dedicated spaces, a highly attractive amenity for tenants.
With a seasoned, long-term tenant base, the property enjoys zero vacancy and historically low turnover, fostering a tight-knit community feel. The
asset currently operates at an attractive 11.76 GRM and 5.2% cap rate, with rents below market and room for growth through strategic renovations or
repositioning.
While the property is performing well operationally, buyers should note that the third bedrooms in each unit are non-conforming and were not permitted as part of the original 2-bedroom floor plans. In 2024 significant capital expenditure was made modifying several of the balconies. The building would benefit from continued maintenance, systems upgrades and cosmetic improvements. This is an ideal acquisition for investors seeking a
stable, seasoned tenant base with immediate cash flow, below-market rents, and multiple paths to value creation. Don't miss this rare chance to
own a unique building with oversized units, strong bones, and built-in community.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Zoning C-1
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 17.0
Garage Description 17.0
Pool None
Community Features Suburban
Total Parking Spaces 17
Private Pool No
Building
Lot Description Rectangular Lot, Street Level
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 01505215
Energy Description 665.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Marketing Director | License ID: 02122928