Great Value-Add opportunity in the renowned French Park neighborhood in Santa Ana. Located 1 block away from East Civic Center Drive. Be right in the action of the redevelopment going on in Downtown Santa Ana. This is a pair of fourplexes, one facing 506 Vance St and one facing 833 N Lacy. Both have a similar layout: eight one-bedroom floorplans with an eat-in kitchen, living room, and full bathroom. There are four ground-level units and four units on the second level, all with individual access. A third building houses the community/coin-op washer and dryer; the washer/dryer units are leased. Seven one-car garage spaces are available for tenant use; three face the alley towards the North East, and four face Vance St on the North West Side. The units' flooring is a combination of laminate tile and vinyl flooring, and countertops are tile.
Potential rents are $191,520 ($1,995 x8)
Actual rents are $131,652