1010 N Bewley Street
Santa Ana, CA, 92703 $ 4,599,000
Bedrooms18 Baths8.0 Sq 8,435 Monthly Estimate*
$ 30,566
Listed by Advance Estate Realty
for $4,599,000 with 18 bedrooms and 8 full baths. This 8,435 square foot home was built in 1944 on a lot size of 0.9664.
Welcome to an exceptional investment opportunity in a high-demand area! This property offers a rare combination of fully remodeled detached units and substantial redevelopment potential, making it an ideal choice for investors seeking immediate rental income and future growth prospects. Fully Remodeled Units: Each of the 9 detached units has been completely remodeled to the highest standards, featuring luxurious upgrades such as new luxury vinyl floors, AC split systems, brand-new kitchen cabinets with quartz countertops, and upgraded bathrooms. Additionally, all units boast new double-pane windows, ensuring energy efficiency and tenant comfort. Each unit offers a comfortable 2-bed, 1-bath layout, perfect for attracting tenants seeking modern and functional living spaces. Tenants enjoy the convenience of private yards with a fenced perimeter, providing privacy and outdoor space. Furthermore, the property offers 1 or 2 car garages for each unit, along with long driveways capable of accommodating up to 4 additional vehicles. Tenants are responsible for their own utilities and yard maintenance, minimizing landlord expenses and ensuring hassle-free management. With recent renovations and tenant responsibilities, maintenance costs are kept to a minimum, maximizing profitability for the owner. Situated in an area with high rental demand, vacancy rates are virtually zero, guaranteeing consistent rental income and financial stability. The property sits on nearly 1 acre of land, presenting significant potential for redevelopment. City ordinances permit the construction of up to 18 townhouse/condo-style units (including density bonus), offering lucrative expansion opportunities for the future. Despite the potential for redevelopment, the property generates almost market rent with a CAP ratio close to 5%, providing a solid return on investment while pursuing permits for redevelopment. Don't miss out on this exceptional investment opportunity that combines immediate rental income with the potential for future growth. Whether you're looking to expand your investment portfolio or capitalize on redevelopment possibilities, this property offers endless possibilities. Schedule a showing today to explore the potential of this lucrative investment!
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FeaturesGeneralInterior Features QuartzCounters AllBedroomsDown BedroomonMainLevel MainLevelPrimary
Sewer PublicSewer
Heating Ductless
Cooling Ductless
Utilities CableAvailable ElectricityConnected NaturalGasConnected PhoneConnected SewerConnected WaterConnected
Roof Shingle
Appliances BuiltInRange Disposal
Garage Spaces 14.0
Pool Features None
Year Built 1944
Tenant Pays AllUtilities
Stories 1
Levels One
Property SubType Apartment
Gross Income 289200.0
Community Features StreetLights Urban
Accessibility None
County Orange
Net Operating Income 218916.0
Operating Expense 61608.0
Insurance Expense 5364.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Contingency NONE
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Harbor & Hazard
City Santa Ana
Entry Location 1
View Y/N N
Senior Community Y/N N
Total Units 9
MLS Area 70 - Santa Ana North of First
Lot Size Square Feet 42098.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 9
Street Name Bewley
Listing Terms Cash Conventional Contract Item1031Exchange
Property Attached Y/N N
Land Lease Y/N N
Electric Expense 0.0
Home Warranty Y/N N
Fuel Expense 0.0
Trash Expense 0.0
Water Sewer Expense 0.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 0
Building Area Units SquareFeet
Standard Status Active
Year Built Source Assessor
Tax Lot 14
Total Actual Rent 298200.0
Property Sub Type Additional Apartment
Expected Active Date 2024-03-22
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InteriorFlooring Vinyl
Fireplace Features None
Total Stories 1
Common Walls NoCommonWalls
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Window Features DoublePaneWindows
Fireplace Y/N N
Street Suffix Street
Laundry Features ElectricDryerHookup GasDryerHookup InKitchen
Entry Level 1
Electric On Property Y/N N
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ExteriorParking Features Asphalt DoorSingle Driveway Garage GarageDoorOpener
Lot Features FrontYard Garden NearPublicTransit
Water Source Public
Total Parking 14.0
Lot Size Area 42098.0
Number of Buildings 9
Spa N
Building Area Total 8435.0
Lot Size Acres 0.9664
Lot Size Units SquareFeet
Lot Size Source Estimated
Number of Separate Water Meters 4
Number of Separate Gas Meters 9
Number of Separate Electric Meters 9
Road Frontage Type CityStreet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByAdvance Estate RealtyBroker
Affordability Calculator
- Monthly Principal & Interest
- $30,566
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Santa Ana, CA
Average List Price $1,652,589
Percent of Sale Price 64%
About Santa Ana, CA 331,906 Population
-2% Since 2002
$ 55,844 Median Income
32.48 Median Age
43% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
3/22/2024 | $4,599,000 | | Listed Price |