412 N BAKER STREET, SANTA ANA CA 92703
- 31,929 sq.ft.
- 21,227 sq.ft. lot
The Tuscan Villas Apartments is a 38-unit, three-story, multifamily investment property located in the heart of Orange County in the city of Santa Ana. The subject property possess an ideal unit mix consisting of 100% two bedroom units: (32) 2 bedroom, 2 bath and (6) 2 bedroom, 1 bath. The two bath units have an unique floor plan where there is access to both bathrooms from a common hallway - ideal for two families or roommates. Most of the two bedroom, two bath unit configuration possess large covered 200 sf balconies, offering tenants a generous outdoor space. Other unit features: separate tenant gas/electric meters & separate hot water heaters, new remote car entry gate with ample parking (76 garage spaces) over two levels of subterranean parking and three on-site laundry rooms (one on each floor). The landlord also benefits from a fire sprinkler system with alarm monitoring that dramatically lowers the subject property insurance premiums; additionally, a 5-year fire sprinkler certification was recently completed in August 2017. The subject property has undergone additional upgrades in 2018 including: new exterior paint, new LED parking structure lighting, new LED exterior lighting, new car remote entrance gate, numerous remodeled units with substantially higher rents - huge estimated upside in rents of approx. 25% with a proforma cap rate of 5.0% and a proforma GRM of 12.5. Assumable $5.735M 30 yr loan at 3.875% fixed rate (for 4 more years) available.
Listing Courtesy of Ed Diaz, Vanguard Property Group
raj qsarCEO | Owner |
- cell 714.412.5019
- office 949.612.2535
Based on information from California Regional Multiple Listing Service, Inc. as of September 21, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.