For Sale
$1,700,000

819 Cypress AveSanta Ana, CA 92701

7-Unit Apartment Complex, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 7-unit apartment complex in Santa Ana, CA presents a compelling value-add opportunity. Located on a tree-lined street, this property comprises two single-story buildings offering a mix of well-designed one and three-bedroom units, including charming cottages. The 4,405 square foot property sits on a 13,682 square foot lot and boasts ample parking with a 2:1 ratio (13 spaces). Five of the seven units have recently undergone interior renovations, and partial roof and window replacements have been completed. The property features a desirable 1973 construction date and currently enjoys 100% occupancy, generating a current NOI of $105,717 and a 6.22% cap rate. Pro forma projections indicate a significant increase in NOI to $150,684 and an 8.86% cap rate, showcasing the potential for substantial returns. The property is zoned R2 and is offered at $1,700,000, translating to $242,857.14 per unit and $385.93 per square foot. This is a fee-simple ownership with no ground lease. The property's location in an established single-family neighborhood ensures high demand and strong rental income potential. This is an ideal investment for those seeking immediate cash flow with minimal effort. The property's strong fundamentals, combined with its value-add potential, make it a rare find in the competitive Santa Ana market. The address is 819 Cypress Ave, Santa Ana, CA 92701. APN: 011-052-01.

Highlights

  • Highly desirable rental location in an established Santa Ana single-family neighborhood.
  • Mix of well-designed one- and three-bedroom units, including single-story cottages.
  • Five of seven units have renovated interiors; partial roof and window replacements completed.
  • Over a 2:1 parking ratio (13 spaces for 7 units).
  • Built in 1973.

Property Details for 819 Cypress Ave

Property type
Apartment buildings
Square Feet
4,405 SF
Class
C
Year Built
1973
Buildings
2
Stories
2
Units
7

Location Insight

City
Santa Ana
County
Orange
State
California
Latitude
33.737685750154
Longitude
-117.86646053468
819 Cypress Ave, Santa Ana, California

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819 Cypress Ave
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