Bought with Chris Keramati • Triqor Group
$3,700,000
$3,895,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
1601 N Flower Street Santa Ana, CA 92706
15,678 SqFt
Key Details
Sold Price $3,700,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 15,678 sqft
Price per Sqft $235
MLS Listing ID CRPW25163850
Year Built 1949
Lot Size 0.539 Acres
Property Sub-Type Other
Property Description
We are pleased to present the Flower Street Apartments, available for the first time in nearly 30 years. This well-maintained asset spans over half an acre and offers a majority of spacious two-bedroom floor plans exceeding 1,000 square feet, with more than half designed as two-story townhomes. The property features both garage and open parking, individual gas and electric meters, and gated entry, providing residents with privacy and comfort. Priced under $250 per square foot, this offering presents investors with significant upside potential, including a projected 60% increase in rental income. Flower Street Apartments represents a compelling investment opportunity with a cap rate exceeding 9% and a 7.86 GRM on market rents.
Location
State CA
County Orange
Interior
Heating Forced Air
Laundry Other
Building
Lot Description Irregular Lot
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