• 31,929 sq.ft.
  • 21,227 sq.ft. lot
offered at $10,250,000
Status: Active Under Contract // Property Type:
Project/Tract: Bristol Place (BRSP) // County: Orange // Year Built: 1988

Property Description

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

Exterior Features

Exterior Features: Sidewalks
  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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