208 W Hoover AVE Orange, CA 92867
Sale
$6,390,000
20 Units
3 Beds
2 Baths
12,054 Area(sq.ft.)
18,296 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 16 | 1 | 1 | No | $ 1,912 | $ 30,595 | $ 2,080 |
| Unit 2 | 4 | 2 | 1 | No | $ 2,383 | $ 9,530 | $ 2,592 |
| 2 | 20 | 24 | 20 | $ 40,124 | $ 527,640 | $ 43,648 |
| MLS #: | OC24071998MR |
| Days On Market: | 0 |
| County: | Orange County |
| Property Type: | Residential Income |
| Price per ft2: | $ 530 |
| Price per unit: | $ 319,500 |
| Year Built: | 1961 |
Property Details
Located in the heart of the highly sought-after city of Orange, this 20-unit apartment building presents a compelling investment proposition with significant upside potential in rental income. Comprising of 16 one-bedroom, one-bathroom units, and four spacious two-bedroom, one-bathroom units, this property caters to a wide range of tenant needs. 16 One-Bedroom, One-Bathroom Units: These well-appointed units provide comfortable living spaces for singles or couples, offering modern amenities and privacy. 4 Two-Bedroom, One-Bathroom Units: Designed for families or those desiring extra space, these units are highly attractive to a broader tenant base. This property boasts ample parking for residents with 16 garage parking spaces and an additional 6 surface parking spaces. The convenience of dedicated parking enhances tenant satisfaction and retention. The building has separate meters for electricity and a master meter for gas and water, creating the perfect foundation for implementing a Ratio Utility Billing System (RUBS) program. This opens the door to an additional revenue stream and allows for a more equitable distribution of utility costs among tenants. Situated in the thriving city of Orange, this apartment building enjoys a prime location within a highly desirable rental market. Orange is known for its vibrant community, excellent schools, and proximity to major employers, making it an attractive destination for both residents and investors alike.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 152,535 |
| Net Operating Income: | $ 320,340 |
Structure
| Community Features: | Curbs, Gutters, Sidewalks |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
| Total Parking: | 20 |
Interior
| Laundry: | Laundry Area |
Exterior
| Pool: | No |
Detailed Map
Schools
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Income
