2221 E Lenita Lane, Santa Ana, CA 92705
List Price: $5.4M
Listing Status: Active
Original List Price: $5.78M
0Days on Market: 50
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1969
Lot Size: 28,692 sq ft
Private Pool: Yes
MLS Number: PW25262411
About This Property
IMPORTANT TO NOTE: 11 OF THE 1-BEDROOMS ARE LARGE 729 SQFT. UNITS WITH DENS. THE DENS ARE UTILIZED AS A SECOND BEDROOM AND RENTS ARE CLOSER TO A 2-BEDROOM RENTAL LEVEL! We are pleased to present Casa Los Amigos, a 22-Unit condo community, currently being operated as apartments, in the city of Santa Ana, CA. The property features a mix of spacious 1 and 2-bedroom units, equipped with laminate wood flooring, balconies/patios, stainless steel sinks, gas wall heaters, wall a/c, and ceiling fans. The property amenities include controlled access, gated and covered parking (19 covered, 8 open), lush landscaping, and a shared laundry facility. The asset has been well maintained and professionally managed throughout ownership. Years prior, ownership converted and permitted the units into individually parceled condos, providing a buyer with the opportunity to sell the units individually. Casa Los Amigos currently generates a 6.5% cap rate on existing income, with a proforma cap rate of 8.7%. This well-maintained, pride-of-ownership asset offers investors strong in-place income with significant and flexible upside potential in an excellent location.
Listing provided by: Gary Tolfa DRE #00955403 949-756-3232 gary@triqorgroup.com, Triqor Group
Source: CRMLS, MLS #: PW25262411
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.