Listed by CBRE - Orange County
$2,200,000
1027 N. Parton Street
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 7,800
Units 9
Cap Rate 3.29%
NOI $72,286
Pro-Forma Cap Rate 7.31%
Pro-Forma NOI $160,761
Year Built 1959
Buildings 1
Stories 2
Lot Size (SqFt) 8,945
9 Units | Santa Ana | Significant Upside to a Market Cap of 7.31%
Marketing description
Download Offering Memorandum: https://multifamilysocal.com/listings/partonstreet/
Investment highlights
- Significant Upside - Under Santa Ana rent control, rents may be reset to market upon vacancy and thereafter are subject to allowable annual increases. The structure provides a measured path to revenue growth through natural turnover, with additional upside available through strategic interior upgrades. Once stabilized, the property is positioned to generate an investor return exceeding a 7% cap rate.
- Unique Offering - 1027 N. Parton St. presents an opportunity to acquire a 9-unit multifamily asset situated on an ±8,945 SF lot with approximately ±7,800 rentable square feet.
- Desirable Unit Mix - The property features spacious floorplans consisting of five (5) 1-bedroom/1-bath units, three (3) 2-bedroom/1-bath units, and one (1) 2-bedroom/2-bath unit. (±avg. 867 sf).
- Opportunity Zone - Positioned within a designated opportunity zone, offering attractive long-term investment benefits.
- Central Orange County Location - 1027 N. Parton St. borders the desirable French Court & French Park neighborhood.
Listing Contacts
Listed by CBRE - Orange County
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$72,286.00
$6,023.83/mo
Valuation Metrics
0
DSCR
3.29%
Cap Rate
3.29%
ROI
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