1001 W Myrtle
About this property
TWO DETACHED BUILDINGS (1001 & 1003 W. MYRTLE - SOLD TOGETHER) THREE RENTAL UNITS ONE LARGE LOT A versatile investment opportunity STRONG Existing Rental Income - Stable Tenants HIGH VALUE - Unusually strong income for its unit count, currently over $92,600 in Net Operating Income (NOI), over 6% CAP Rate, with over $107,700 in annual gross income, plus potential additional laundry and garage income Strong in-place rental income, even within a rent-regulated area LARGER BUILDING - One of the MOST COMPETITIVELY PRICED small multifamily properties by $/SF ONE OF THE LARGER LOTS among comparable properties - approximately 9,583 SF, PROVIDING substantially more land 5 garages / plus additional parking spaces on the LOT Documented ADU / VALUE-ADD potential - Stamped plans available for review AMPLE LAND + Multiple avenues for FUTURE value creation RARE DETACHED MULTIFAMILY CONFIGURATION - No shared walls, No one ABOVE OR BELOW, providing PRIVACY Stong tenant appeal & Rental demand Separate utility meters LIVE IN ONE RENT THE OTHERS OR INVEST FOR CASH FLOW COMPLETELY REMODELED IN 2022 - New EVERTHING: Double pane windows, flooring, kitchen cabinets, countertops, bathroom vanities and tubs 10 ROOMS 4 FULL BATHS 3 FULL KITCHENS Existing garage structures provide a documented pathway for potential future ADU conversion Please see Supplements for permits, plans and supporting documentation. Prime Central Location Strategically positioned CLOSE to Tustin and Orange borders, with convenient access to major freeways, employment centers, shopping, dining, and schools Virtually staged / AI - generated images SHOWING: Tenant Occupied - DRIVE-BY ONLY. Showings by appointment upon receipt of a complete offer package.
About this property
TWO DETACHED BUILDINGS (1001 & 1003 W. MYRTLE - SOLD TOGETHER) THREE RENTAL UNITS ONE LARGE LOT A versatile investment opportunity STRONG Existing Rental Income - Stable Tenants HIGH VALUE - Unusually strong income for its unit count, currently over $92,600 in Net Operating Income (NOI), over 6% CAP Rate, with over $107,700 in annual gross income, plus potential additional laundry and garage income Strong in-place rental income, even within a rent-regulated area LARGER BUILDING - One of the MOST COMPETITIVELY PRICED small multifamily properties by $/SF ONE OF THE LARGER LOTS among comparable properties - approximately 9,583 SF, PROVIDING substantially more land 5 garages / plus additional parking spaces on the LOT Documented ADU / VALUE-ADD potential - Stamped plans available for review AMPLE LAND + Multiple avenues for FUTURE value creation RARE DETACHED MULTIFAMILY CONFIGURATION - No shared walls, No one ABOVE OR BELOW, providing PRIVACY Stong tenant appeal & Rental demand Separate utility meters LIVE IN ONE RENT THE OTHERS OR INVEST FOR CASH FLOW COMPLETELY REMODELED IN 2022 - New EVERTHING: Double pane windows, flooring, kitchen cabinets, countertops, bathroom vanities and tubs 10 ROOMS 4 FULL BATHS 3 FULL KITCHENS Existing garage structures provide a documented pathway for potential future ADU conversion Please see Supplements for permits, plans and supporting documentation. Prime Central Location Strategically positioned CLOSE to Tustin and Orange borders, with convenient access to major freeways, employment centers, shopping, dining, and schools Virtually staged / AI - generated images SHOWING: Tenant Occupied - DRIVE-BY ONLY. Showings by appointment upon receipt of a complete offer package.
Features and Additional Information
Presented By Coldwell Banker Home Source
Area Information
69 Santa Ana South of First | Orange County | Other
Schools in the Area
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Elementary School
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Middle School
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High School
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Brokerage: T.N.G. Real Estate Consultants
