819 Cypress AveSanta Ana, CA 92701

  • Residential income properties
  • 4,405 SF
For Sale
$1,700,000 View listing

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 properties
Property subtype
Residential income homes
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
819 Cypress Ave, Santa Ana, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$22,159
$1,629,533
$218,727
$1,848,260
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