Listing Courtesy of: CRMLS / Coldwell Banker Realty / Brian Wollner

507 N Daisy Santa Ana, CA 92703

Sold (92 Days)

$1,725,000

2,770

SQFT

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Description

(503 N Daisy APN 007-052-60 & 507 N Daisy APN 007-052-59) were sold together for a total of $1,725,000. Opportunity to own 2019 Construction residential income property with a 3-year lease renewal in place producing $137,837 in cash flow each year. These two side-by-side houses are being sold as a grouping, each with 4 bedrooms and 3 bathrooms, were built to suit the tenant, which is a state-licensed residential substance use disorder treatment center. The tenant has been located in the houses for 3 years, and just signed a renewal for an additional 3 years starting on 9/1/2023. Tenant pays all expenses and repairs, with the exception of Property Taxes, Insurance, and repairs associated with the foundation, exterior walls, or roof of the property.

This listing is truly a passive income owner’s dream, with minimal management needs, and a true 7.7% in place cap rate (10.7x GRM - one of the most attractively priced residential income properties on the market in Orange County! Positive leverage on day 1 will boost cash on cash returns above 7.7%, and 3 years of lease term remaining!

DISTURBING THE TENANTS WITHOUT PERMISSION IS PROHIBITED BY LAW, PURSUANT TO CALIFORNIA DEPARTMENT OF HEALTH REGULATIONS. Tours can be provided upon receipt of an LOI or Offer, and proof of funds. Full property inspection can be conducted after execution of contract.

Also inquire about a nearby property with similar financial performance that can be acquired with this listing as a portfolio.

MLS #:
OC23068081

Lot Size
10,000 SQFT

Type
Multifamily

Year Built
2019

County
Orange County

Listed By

Brian Wollner, Coldwell Banker Realty

Bought with
Jack Harriman, DRE #01204794 CA, Coldwell Banker Realty

Source
CRMLS
Last checked Dec 26 2024 at 5:13 PM GMT+0000

Bathroom Details

Interior Features

Recessed Lighting
Open Floorplan
Dishwasher
Microwave
Refrigerator
Gas Oven
Windows: Double Pane Windows
All Bedrooms Down
Gas Range
Laundry: In Kitchen
Stone Counters

Lot Information

Yard
Corner Lot
Front Yard

Heating and Cooling

Central
Ductless

Flooring

Tile
Laminate

Exterior Features

Roof: Composition
Roof: Shingle

Utility Information

Utilities: Water Source: Public, Sewer Connected
Sewer: Public Sewer

Parking

Driveway
Garage
Concrete
Door-Multi
Driveway Level

Stories

Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.