15981 S Myrtle Avenue

    Tustin, CA 92780
    • $5,400,000
    • STATUS: Active
    • ON SITE: 89 days
    • ID#: OC19068032
    UPDATED: 35 min ago
    $5,400,000
    • 0
      BEDS
    • 0.73
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 17,678
      SQFT
    • $305
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    The Myrtle Avenue Apartment Homes is a Pride of Ownership, 16 unit multi-family investment property located in the strong rental market of Tustin, California within the Greater Orange County area. The property has a desirable unit mix consisting of (9) two bedroom/ one bathroom units, (1) two bedroom/ one and one half bathrooms units, (2) two bedroom/ two bathroom, and (4) three bedroom/ two bathroom units totaling 17,678 square feet situated on a 31,941 square foot lot. Built in 1964, the property offers amenities including on-site laundry facilities, private patios, balconies, and enclosed garages. The property has recently gone through extensive interior and exterior renovations.This offering represents a rare opportunity for an investor to acquire a Pride of Ownership, stable investment in the desirable rental market of Tustin. The location offers high visibility in an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T19:36:45.46. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/93099442

    15981 S Myrtle Avenue Tustin, CA 92780

    • Price: $5,400,000
    • Status: Active
    • Updated: 35 min ago
    • ID#: OC19068032
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.73
    Acres
    17,678
    SQFT
    $305
    $/SQFT
    1964
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Orange
    Area:
    699 - Not Defined
    Property Description
    The Myrtle Avenue Apartment Homes is a Pride of Ownership, 16 unit multi-family investment property located in the strong rental market of Tustin, California within the Greater Orange County area. The property has a desirable unit mix consisting of (9) two bedroom/ one bathroom units, (1) two bedroom/ one and one half bathrooms units, (2) two bedroom/ two bathroom, and (4) three bedroom/ two bathroom units totaling 17,678 square feet situated on a 31,941 square foot lot. Built in 1964, the property offers amenities including on-site laundry facilities, private patios, balconies, and enclosed garages. The property has recently gone through extensive interior and exterior renovations.This offering represents a rare opportunity for an investor to acquire a Pride of Ownership, stable investment in the desirable rental market of Tustin. The location offers high visibility in an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.
    Exterior Features

    Garage Spaces 12.00 Lot Features LandscapedNear Public Transit Lot Size Units Square Feet Parking Features DrivewayGarageOn SiteStreet Parking Total 16.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features SidewalksStorm DrainsStreet Lights Country Us Electric Expense 5000.00 Elevation Units Feet Fuel Expense 5000.00 Gardener Expense 2400.00 Gross Income 360720.00 Gross Scheduled Income 352920.00 Insurance Expense 5948.00 Land Lease YN No Laundry YN Yes Net Operating Income 243050.00 New Construction YN No New Taxes Expense 60000.00 Number Of Separate Electric Meters 16 Number Of Separate Gas Meters 16 Number Of Separate Water Meters 1 Operating Expense 106848.00 Other Income1 7800.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 106848.00 Trash Expense 5000.00 Vacancy Allowance Rate 3.00 Water Sewer Expense 5000.00 Water Source Public Year Built Source Public Records

    Listing provided courtesy of Greg Bassirpou of Marcus & Millichap Re Invest


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T19:36:45.46. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024