819 Cypress AveSanta Ana, CA 92701
- Residential income properties
- 4,405 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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