1003 W Myrtle Street Active Save Request In-Person Tour Request Virtual Tour
Santa Ana,CA 92703
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 3,263 sqft
Price per Sqft $487
MLS Listing ID PW25115762
Bedrooms 7
Full Baths 4
Year Built 1986
Lot Size 9,578 Sqft
Property Sub-Type Single Family Residence
Property Description
BACK ON THE MARKET at no fault to seller - Buyer unable to close escrow on their other 1031 replacement sales.
CREATIVE FINANCING options available. SELLER FINANCE, Seller may carry existing loan. Creative terms welcome!
Ideal for Multi-Generational Living – Comfort, Privacy in a SAFE neighborhood.
This perfectly designed property offers multiple private living spaces ** Live in one house, rent the other TWO residences. Rent will pay for your mortgage.
Turnkey Investment ** STRONG 5% Cap Rate, Enjoy solid returns $107,000+ annual income from day one based on current rents, with room for upside through rent increases. Reach CAP rate - Upto 8% CAP with NEW ADU ** Reliable tenant already in place, paying over market rent, the past 3 years! THREE Completely separate, DETACHED residences. Total TWO buildings STAND ALONE, completely DETACHED. SEPARATELY metered for gas, electric and water. Each has its own mailing address: 1001 & 1003 W Myrtle. Nine (9) spacious rooms, 4 Full Bath, 3 Full Kitchen & 5 car garage. Total 14 parking spots on this HUGE 10,000 lot ** In 2022 MAJOR REMODEL for ALL buildings was done, NEW windows, NEW floors everywhere, NEW kitchen & bathroom cabinets. You can ADD ** an ADU in the 3-car garage and build an addition to the front house in the 2-car garage. You will end up with FOUR completely detached, separate residences, bringing in ADDITIONAL rent approx. $40,000 annually only from ** ADU** Seller has APPROVED PLANS from the city & Building PERMIT for ADU (see supplements) Will be TRANSFERRED at NO additional cost. IN 1986, BACK house SFR was build split into 2 residences from inside. Original FRONT single family residence is one SINGLE story, completely DETACHED with 2 beds & 1 FULL Bath, front, side and backyard. One of the strongest rental markets in So Cal. The City of Santa Ana is a historic city w/ vibrant downtown located in OC. Even with only a 3% rent increase - you will end up with over $3,500 additional rent each consecutive year. CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways 22,5,57. Please DO NOT go direct, do not disturb tenants. Offers subject to interior inspection. All rooms, landscape are virtually staged. Must see in person to appreciate the flow and floor plan. Front House is the original that was built in 1936 and MAJOR remodeling was done in 2022. Neighborhood views from surveys: they would walk alone at night. Ask for PROPERTY VIDEO and rental cash flow.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Zoning R2
Interior
Heating None
Cooling None
Flooring Laminate,Tile,Vinyl
Fireplaces Type None
Laundry Laundry Room
Exterior
Parking Features Door-Multi,Door-Single,Driveway,Garage Faces Front,Garage,On Site,Off Street,Paved,One Space
Garage Spaces 5.0
Garage Description 5.0
Fence Block,Good Condition,Privacy
Pool None
Community Features Curbs,Street Lights,Sidewalks
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N No
View None
Roof Type Shingle
Building
Lot Description 2-5 Units/Acre,Landscaped,Street Level
Dwelling Type House
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Santa Ana Unified
Others
Acceptable Financing Cash,Cash to New Loan,Conventional,1031 Exchange
Listing Terms Cash,Cash to New Loan,Conventional,1031 Exchange
Special Listing Condition Standard,Trust