902 Cypress Ave
Santa Ana, CA 92701
Clothier House · Multifamily Property For Sale
·
3 Units
Property Facts
| No. Units | 3 | Building Size | 1,857 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | No. Stories | 2 | |
| Apartment Style | Garden | Year Built | 1904 |
| Lot Size | 0.17 AC | Parking Ratio | 1.62/1,000 SF |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | |
| Apartment Style | Garden |
| Lot Size | 0.17 AC |
| Building Size | 1,857 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1904 |
| Parking Ratio | 1.62/1,000 SF |
About 902 CYPRESS AVE , SANTA ANA, CA 92701
**5.0% CAP RATE ON ACTUAL RENTS** Rare opportunity to own a historic multifamily property in Santa Ana on a tree lined street among Single Family homes and apartments. The "Clothier house" originally constructed as one single family house, but was later converted into a triplex in 1930. New paint on garages and a new block wall was installed last year. The property features a large lot, courtyard for tenants, three single car garages, and separately metered for gas/electric. Currently listed as a member of the Santa Ana historical properties list and also enrolled in Mills act for property tax saving, up to 50% property taxes. Two bedroom unit agreed to new 1 year lease at $1,625 effective July 1st, current rent is $1,350. One bedroom unit agreed to new 6 month lease at $1,100 effective July 1st, current rent is $850. 2nd two bedroom unit just new 1 year lease as of May 23, 2018. Actual GRM with new rents is 13.4 GRM & 5.1% cap rate.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,638 | - |
| 1+1 | 1 | $1,150 | - |
Property Taxes
| Parcel Number | 011-051-29 | Improvements Assessment | $144,922 |
| Land Assessment | $338,151 | Total Assessment | $483,073 |
Property Taxes
