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Listed by Chris Keramati • Triqor Group
$ 3,895,000
Est. payment /mo
Active
1601 North Flower Street Santa Ana, CA 92706
15,678 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 15,678 sqft
Price per Sqft $248
MLS Listing ID PW-25163850
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
Parking Features Gated
Garage Spaces 13.0
Pool None
Community Features Sidewalks
Building
Lot Description Irregular Lot
Sewer Public Sewer