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902 E 17th Street

Santa Ana, CA 92701
  • $4,200,000
  • STATUS: Active
  • ON SITE: 46 Days
  • ID#: OC21230468
UPDATED: 57 min ago
$4,200,000
  • 0
    BEDS
  • 0.26
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1954
County:

School Ratings & Info

Listing Agent: Tyler Leeson of Marcus & Millichap Re Invest and Sean Rosenzweig of


Description

902 East 17th Street is an 18-unit multifamily asset in Santa Ana, which is a core market in Orange County. The property is strategically bound by the intersection of the 5 Freeway to its South West, the 55 Freeway to its East and the 22 Freeway to its North. The asset is 1.4 miles from Downtown Santa Ana, 1.2 miles from Orange County School of the Arts, and 10 minutes to South Coast Plaza. This uniquely positioned, two-story property was built in 1954 and consists of 3 two-bedroom/one-bathroom units and 15 one-bedroom/one-bathroom units. It offers sixteen dedicated covered parking spaces with space for additional parking and ample street parking. The building was repainted within the past 5 years. Some of the rear parking spots benefit from having their support columns newly reinforced, which saves a new investor thousands in capital expenditures. Rent collections have been 100% throughout COVID-19. The asset is well-maintained yet positioned for future renovations to unlock its 37% rental upside potential. The assets desirable location fundamentals minimize lease-up time and offer a new investor high rental potential with a stable resident profile. This is a rare opportunity for an investor to acquire a true value-add property with strong location fundamentals in a high-density and high-demand submarket.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T16:28:19.53. 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/122547462
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902 E 17th Street Santa Ana, CA 92701

  • Price: $4,200,000
  • Status: Active
  • On Site: 46 Days
  • Updated: 57 min ago
  • ID#: OC21230468
0
Beds
0
Baths
0
½ Baths
0.26
Acres
1954
Built
Neighborhood:
699 - Not Defined
County:
Orange
Area:
699 - Not Defined
Property Description
902 East 17th Street is an 18-unit multifamily asset in Santa Ana, which is a core market in Orange County. The property is strategically bound by the intersection of the 5 Freeway to its South West, the 55 Freeway to its East and the 22 Freeway to its North. The asset is 1.4 miles from Downtown Santa Ana, 1.2 miles from Orange County School of the Arts, and 10 minutes to South Coast Plaza. This uniquely positioned, two-story property was built in 1954 and consists of 3 two-bedroom/one-bathroom units and 15 one-bedroom/one-bathroom units. It offers sixteen dedicated covered parking spaces with space for additional parking and ample street parking. The building was repainted within the past 5 years. Some of the rear parking spots benefit from having their support columns newly reinforced, which saves a new investor thousands in capital expenditures. Rent collections have been 100% throughout COVID-19. The asset is well-maintained yet positioned for future renovations to unlock its 37% rental upside potential. The assets desirable location fundamentals minimize lease-up time and offer a new investor high rental potential with a stable resident profile. This is a rare opportunity for an investor to acquire a true value-add property with strong location fundamentals in a high-density and high-demand submarket.
Exterior Features

Carport Spaces 16 Carport YN Yes Lot Features LevelStreet Level Number Of Separate Electric Meters 18 Parking Total 16 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Common Interest Community Apartment Community Features CurbsSidewalks Electric Expense 5090 Fuel Expense 5090 Garage YN No Gross Income 272167 Gross Scheduled Income 272167 Insurance Expense 4396 Land Lease YN No Laundry Features None Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan1031 Exchange Maintenance Expense 9000 Net Operating Income 154802 New Construction YN No New Taxes Expense 47460 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 18 Operating Expense 109200 Other Expense 15692 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 22681 Trash Expense 6822 Vacancy Allowance 8165 Water Sewer Expense 5090 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T16:28:19.53. 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: Tyler Leeson of Marcus & Millichap Re Invest and Sean Rosenzweig of