We are pleased to present 1130-1138 W. Brook Street, a bread and butter portfolio consisting of 21 apartment units laid out on 3 separate parcels of land, eliminating any required expense for an on-site manager. Priced at only $197,000 per unit, this portfolio is the most affordable asset on the market in Orange County. With a projected 31% in rental upside the new investor can realize an immediate cash flow on the current rents with tremendous growth built in for the future.
Located within the Pico – Lowell neighborhood, a quiet suburban community within arms reach of Santa Ana’s finest amenities. Several grocery stores and corner markets around the neighborhood make it easy to pick up daily necessities without having to drive anywhere. Lowell, Pio Pico, and Martin Luther King Jr. Elementary Schools and Mater Dei High School are all within easy walking distance of most homes in the neighborhood, giving local students the option to head to class on foot. Just northeast of the neighborhood, folks have direct access to Flower Street Park and Angels Community Park, as well as the dining, entertainment, and artistic attractions surrounding Historic 4th Street. These att racti ve att ributes are what keep long-term paying tenants and occupied units.
Sold for $3,675,000 on 02/28/24
Listing Provided by:
Nick Gould DRE #01521955 ng@morganskenderian.com,
Morgan Skenderian,
Rick Applebaum DRE #01273871,
Morgan Skenderian
Bought with: Hoyt Real Estate, Inc.
$3,675,000
1130-1138 W Brook St, Santa Ana, CA 92703
21beds
21baths
12,032sqft
Multi Family
Built in 1959
-- sqft lot
$3,974,400 Zestimate®
$305/sqft
$2,480 Estimated rent
Owner options
What's special
Zillow last checked: 8 hours ago
Listing updated: February 28, 2024 at 10:43am
Listing Provided by:
Nick Gould DRE #01521955 ng@morganskenderian.com,
Morgan Skenderian,
Rick Applebaum DRE #01273871,
Morgan Skenderian
Bought with:
Matthew Hoyt, DRE #01426139
Hoyt Real Estate, Inc.
Source: CRMLS,MLS#: PW23156314
Originating MLS: California Regional MLS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 21
- Bathrooms: 21
Appliances
- Laundry: Common Area
Features
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 12,032
- Total interior livable area: 12,032 sqft
Property
Parking
- Total spaces: 24
- Parking features: Carport
- Carport spaces: 15
- Uncovered spaces: 9
Features
- Levels: Two
- Stories: 2
- Entry location: 2
- Pool features: None
Lot
- Size: 0.48 Acres
- Features: 16-20 Units/Acre
Details
- Additional parcels included: 01027324,01027325
- Parcel number: 01027322
- Zoning: R3
- Special conditions: Third Party Approval,Standard,Trust
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1959
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Community
- Community features: Biking, Curbs, Gutter(s), Storm Drain(s), Sidewalks
Location
- Region: Santa Ana
Other
Other facts
- Listing terms: Cash to New Loan,1031 Exchange
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Estimated market value
$3,974,400