1419-1423 S Sycamore St 1419 S Sycamore St 12 Unit Apartment Building $3,250,000 ($270,833/Unit) 6.30% Cap Rate Santa Ana, CA 92707

1419-1423 represents the opportunity to acquire 12 units situated across two adjacent parcels just one block off Main Street in Santa Ana. This well-maintained property is comprised of 100% 2 bed + 1 bath units averaging approximately 750 square feet each. Built in 1953, the buildings boast a total of 8,995 square feet with aggregate lot square footage of 12,502. Each unit is rented with one off-street parking space.Interior plumbing was updated on both buildings in 2021 and includes a 10-year warranty that allows for a one-time transfer to a new buyer. Water shutoff valves were also installed inside each unit. Both buildings have passed SB 721 balcony inspections.
Tenants enjoy living on Sycamore because of it’s convenient proximity to both Main Street and Edinger Avenue. The property is within a 5-minute walk of shops and restaurants including: DG Market, Superior Grocers, Family Nails, Pizza Trio, Jack in the Box, KFC, Tierra Mia Coffee and many more. The units are generating strong cash flow with a 5.87% cap rate. With a minor investment in fixtures and aesthetics a buyer will be able to capture a significant amount of upside.