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1140 S Poplar Street

Santa Ana, CA 92704
  • $5,300,000
  • STATUS: Active
  • ON SITE: 25 Days
  • ID#: PW21244539
$5,300,000
  • 0
    BEDS
  • 0.47
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent: Nick Gould of Morgan Skenderian and Rick Applebaum of


Description

We are pleased to present 1140 S. Poplar Street, a garden-style, 20-unit apartment community located in the exceptionally strong rental market of Santa Ana. The desirable unit mix, comprised of primarily 2-Bedroom units at an asking price of $265,000/unit makes the Poplar Apartments one of the most affordable investment opportunities available in Orange County. The beautifully landscaped courtyard, on-site laundry facilities, carport, and garageparking combined with its proximity to the lively Downtown district, South Coast Plaza, and easy freeway access creates a stable and consistent tenant base with very low turnover. A new owner will capture remarkable growth through modernization of interiors and increasing rental levels making 1140 S. Poplar Street the perfect opportunity for the added value investor.1143 S. Poplar Street is also available for a combined 28-units across the street from 1140 S. Poplar Street. Buildings can be purchased together or separately.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T00:27:26.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/123127322
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1140 S Poplar Street Santa Ana, CA 92704

  • Price: $5,300,000
  • Status: Active
  • On Site: 25 Days
  • ID#: PW21244539
0
Beds
0
Baths
0
½ Baths
0.47
Acres
1960
Built
Neighborhood:
699 - Not Defined
County:
Orange
Area:
699 - Not Defined
Property Description
We are pleased to present 1140 S. Poplar Street, a garden-style, 20-unit apartment community located in the exceptionally strong rental market of Santa Ana. The desirable unit mix, comprised of primarily 2-Bedroom units at an asking price of $265,000/unit makes the Poplar Apartments one of the most affordable investment opportunities available in Orange County. The beautifully landscaped courtyard, on-site laundry facilities, carport, and garageparking combined with its proximity to the lively Downtown district, South Coast Plaza, and easy freeway access creates a stable and consistent tenant base with very low turnover. A new owner will capture remarkable growth through modernization of interiors and increasing rental levels making 1140 S. Poplar Street the perfect opportunity for the added value investor.1143 S. Poplar Street is also available for a combined 28-units across the street from 1140 S. Poplar Street. Buildings can be purchased together or separately.
Exterior Features

Carport Spaces 12 Carport YN Yes Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 21 Open Parking Spaces 2 Parking Total 22 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls Fireplace Features BathElectricGasKitchenLiving Room Fireplace YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4 Common Interest None Community Features CurbsGutter(S)Storm Drain(S)Street LightsSidewalks Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 2100 Gross Scheduled Income 350100 Insurance Expense 6048 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 22074 Net Operating Income 209571 New Construction YN No New Taxes Expense 63990 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 130026 Other Expense 25164 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Supplies Expense 750 Trash Expense 0 Vacancy Allowance 10503 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning R3



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T00:27:26.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: Nick Gould of Morgan Skenderian and Rick Applebaum of