Active
1010 N Bewley Street
Santa Ana CA, 92703
$4,599,000
$545.23 per sqft
Active
8,435 sqft
Condo
Built in 1944
Listed by Long Nguyen with Advance Estate Realty 714-894-4306
Welcome to an exceptional investment opportunity in a high-demand area! This property offers a rare combination of fully remodeled detached units and substantial redevelopment potential, making it an ideal choice for investors seeking immediate rental income and future growth prospects. Fully Remodeled Units: Each of the 9 detached units has been completely remodeled to the highest standards, featuring luxurious upgrades such as new luxury vinyl floors, AC split systems, brand-new kitchen cabinets with quartz countertops, and upgraded bathrooms. Additionally, all units boast new double-pane windows, ensuring energy efficiency and tenant comfort. Each unit offers a comfortable 2-bed, 1-bath layout, perfect for attracting tenants seeking modern and functional living spaces. Tenants enjoy the convenience of private yards with a fenced perimeter, providing privacy and outdoor space. Furthermore, the property offers 1 or 2 car garages for each unit, along with long driveways capable of accommodating up to 4 additional vehicles. Tenants are responsible for their own utilities and yard maintenance, minimizing landlord expenses and ensuring hassle-free management. With recent renovations and tenant responsibilities, maintenance costs are kept to a minimum, maximizing profitability for the owner. Situated in an area with high rental demand, vacancy rates are virtually zero, guaranteeing consistent rental income and financial stability. The property sits on nearly 1 acre of land, presenting significant potential for redevelopment. City ordinances permit the construction of up to 18 townhouse/condo-style units (including density bonus), offering lucrative expansion opportunities for the future. Despite the potential for redevelopment, the property generates almost market rent with a CAP ratio close to 5%, providing a solid return on investment while pursuing permits for redevelopment. Don't miss out on this exceptional investment opportunity that combines immediate rental income with the potential for future growth. Whether you're looking to expand your investment portfolio or capitalize on redevelopment possibilities, this property offers endless possibilities. Schedule a showing today to explore the potential of this lucrative investment!
OC24056555
MLSⓇ ID
March 20, 2024
Listed
March 28, 2024
Updated
Map
1010 N Bewley Street
Santa Ana CA, 92703
Interior Features
Total Stories
1
Interior Features
Quartz Counters, All Bedrooms Down, Bedroom on Main Level, Main Level Primary
Appliances
Built-In Range, Disposal
Laundry Description
Electric Dryer Hookup, Gas Dryer Hookup, In Kitchen
Floor Description
Vinyl
Fireplace
Yes
Fireplace Description
None
Cooling
Yes
Cooling Description
Ductless
Heating
Yes
Heating Description
Ductless
Exterior/Building Features
Lot Size
0.97 Acres
Lot Features
Front Yard, Garden, Near Public Transit
Roof
Shingle
Sewer
Public Sewer
Other Property Details
Area Name
70 - Santa Ana North of First
Garage
Yes
Garage Spaces
14
Parking
Asphalt, Door-Single, Driveway, Garage, Garage Door Opener
Parking Total
14
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
2%
Listing Contact: 714-894-4306
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 3/28/2024 at 3:31 PM UTC