819 Cypress AveSanta Ana, CA 92701

Property Details for 819 Cypress Ave

Year built

1973

Lot size

0.29 AC

Property size (Sq ft)

4,405 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

011-052-01

APU

1105201

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,502,372

  6.5%

  $1,386,804

  7%

  $1,287,747

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,403,163

  Geo Method

  $2,403,163

• Alternative Use

  Use

  Valuation

  Residential

  $1,386,804

  Hospitality

  $1,270,306

  Educational

  $1,056,879

  Medical

  $1,093,227

  Retail

  $1,644,034

Location Insight

City

Santa Ana

County

Orange

State

California

Latitude

33.7377

Longitude

-117.866

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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