Description

419 N Tustin Ave represents the opportunity to acquire a rare legacy asset in an excellent Orange County submarket. This well maintained 4-unit multifamily property is positioned in a prime location right on the border of the affluent communities of Orange and Anaheim Hills. Built in 1964, the building boasts an impressive 3,413 rentable square feet and is situated on a very large 9,737 square foot lot. In addition to the location, the property has a few characteristics that make it unique. The unit mix comprises of (2) 2 bed + 2 bath units averaging 1,000 SF and (2) 1 bed + 1 bath units averaging slightly more than 700 SF. There are 5 covered parking spaces and 5 open tandem spaces accommodating a total of 10 vehicles. There are also large storage rooms in the parking area that tenants can utilize. A significant amount of work has been done to upgrade the property including a newer roof, paint, stucco, dual pane windows and upgraded electrical panels. Three out of four units are rented to long term tenants. The fourth unit has undergone a complete renovation and will be delivered vacant at close of escrow providing flexibility for a buyer to either immediately move in or rent it for top of market rent.