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1601 N Flower ST Santa Ana, CA 92706
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Key Details
Sold Price $3,700,000
Property Type Residential Income
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Washington Square
MLS Listing ID PW25163850
Year Built 1949
Lot Size 0.539 Acres
Property Sub-Type Apartment
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
Area 70 - Santa Ana North Of First
Zoning R-3
Interior
Heating Forced Air
Laundry Common Area
Exterior
Garage Spaces 13.0
Garage Description 13.0
Pool None
Community Features Sidewalks
Building
Lot Description Irregular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
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Bought with Chris Keramati Triqor Group
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