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Property Detail

Property Detail

Property Detail

1003 Myrtle Street, Santa Ana, CA 92703

1003 Myrtle Street, Santa Ana, CA 92703

$1,590,000 LOGIN TO SAVE

Bedrooms: 7

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Bathrooms: 4

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Area: 3263 SqFt.

    Description

    BACK ON THE MARKET at no fault to seller - Buyer unable to close escrow on their other 1031 replacement sales. CREATIVE FINANCING options available. SELLER FINANCE, Seller may carry existing loan. Creative terms welcome! Ideal for Multi-Generational Living – Comfort, Privacy in a SAFE neighborhood. This perfectly designed property offers multiple private living spaces ** Live in one house, rent the other TWO residences. Rent will pay for your mortgage. Turnkey Investment ** STRONG 5% Cap Rate, Enjoy solid returns $107,000+ annual income from day one based on current rents, with room for upside through rent increases. Reach CAP rate - Upto 8% CAP with NEW ADU ** Reliable tenant already in place, paying over market rent, the past 3 years! THREE Completely separate, DETACHED residences. Total TWO buildings STAND ALONE, completely DETACHED. SEPARATELY metered for gas, electric and water. Each has its own mailing address: 1001 & 1003 W Myrtle. Nine (9) spacious rooms, 4 Full Bath, 3 Full Kitchen & 5 car garage. Total 14 parking spots on this HUGE 10,000 lot ** In 2022 MAJOR REMODEL for ALL buildings was done, NEW windows, NEW floors everywhere, NEW kitchen & bathroom cabinets. You can ADD ** an ADU in the 3-car garage and build an addition to the front house in the 2-car garage. You will end up with FOUR completely detached, separate residences, bringing in ADDITIONAL rent approx. $40,000 annually only from ** ADU** Seller has APPROVED PLANS from the city & Building PERMIT for ADU (see supplements) Will be TRANSFERRED at NO additional cost. IN 1986, BACK house SFR was build split into 2 residences from inside. Original FRONT single family residence is one SINGLE story, completely DETACHED with 2 beds & 1 FULL Bath, front, side and backyard. One of the strongest rental markets in So Cal. The City of Santa Ana is a historic city w/ vibrant downtown located in OC. Even with only a 3% rent increase - you will end up with over $3,500 additional rent each consecutive year. CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways 22,5,57. Please DO NOT go direct, do not disturb tenants. Offers subject to interior inspection. All rooms, landscape are virtually staged. Must see in person to appreciate the flow and floor plan. Front House is the original that was built in 1936 and MAJOR remodeling was done in 2022. Neighborhood views from surveys: they would walk alone at night. Ask for PROPERTY VIDEO and rental cash flow.

    Features​

    • 0.22 Acres
    • 2 Stories

    Steve and Diana Lincoln

    Call or Text Steve: (760) 707-6033​​​​​​​​​​​​​​

    ​​​​​​​Call or Text Diana: (760) 707-6034

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    Contact

    CA DRE #01870580

    6965 El Camino Real 105-690, Carlsbad CA 92009

    877.692.8427

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    #1 Agent in Aviara

    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by Sandicor®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2017 Sandicor®, Inc.

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