317 S Flower Street

Santa Ana, CA 92703

$5,095,000

List Price

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1985

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Property Description

We are pleased to present Flower Street Apartments comprised of a 20 unit apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent in the last 2 years in both the interiors and exterior. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow along with individual water heaters in each unit to keep expenses low. There is also a RUBS reimbursement program in place for water/sewer and Trash so approximately 90% of those expenses are paid for by the tenants. And although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.

Listing Information

List Price $5,095,000
Status Active
MLS OC24178548
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1985
Lot Size 6,146
Structure Size N/A
Courtesy Of Alliance Investment RE Group
Listing Agent Ruben Khorsandi DRE#01085411

Interior Features

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Exterior Information

Maps

Listing information courtesy of: Ruben Khorsandi, Alliance Investment RE Group . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 28th, 2024 at 6:36 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.