$1,740,000
$1,795,000
3.1%For more information regarding the value of a property, please contact us for a free consultation.
14871 Van Buren St. ST Midway City, CA 92655
4,203 SqFt
Key Details
Sold Price $1,740,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,203 sqft
Price per Sqft $413
Subdivision Other (Othr)
MLS Listing ID NP21069473
Sold Date 06/14/21
HOA Y/N No
Year Built 1988
Lot Size 7,840 Sqft
Acres 0.18
Property Description
The Van Buren Apartments is a 4+1 Unit apartment complex built in 1988 in the heart of Midway City. This unique opportunity affords a prospective buyer the ability to obtain a 2-4 unit residential loan, and enjoy the benefits of a 5th non-conforming unit. The subject lot has 9 total parking spaced including 4 garages. The Asset's interiors and exterior have been extensively renovated over the past year. All 5 units have been turned within the last 2 years, including a newly rehabilitated 2 bedroom 2.5 bath town-home style unit. Other rehabilitation areas include: exterior paint, landscaping, garage/storage doors, carport, and a brand new roof. All aspects of the building are in excellent condition, this is a turnkey asset.
The Van Buren Apartments offer an astute investor the opportunity to purchase an income producing property with strong rents in a unique growing market. The property has only sold once since its development. The complex is located in a quiet residential neighborhood just off of Bolsa and Beach Blvd. The area has a handful of brand new developments, including a block-long affirmed housing complex built in 2020. With attractive Interest Only financing, a new investor can achieve a 6%+ cash on cash return at full list price.
Location
State CA
County Orange
Area 65 - N Of Blsa, S Of Ggrv, E Of Bch, W Of Brookhrs
Rooms
Ensuite Laundry Common Area
Interior
Interior Features Ceiling Fan(s)
Laundry Location Common Area
Heating Central
Cooling Wall/Window Unit(s)
Flooring Carpet, Tile, Vinyl
Fireplace No
Appliance Gas Water Heater
Laundry Common Area
Exterior
Garage Carport, Garage
Garage Spaces 4.0
Carport Spaces 5
Garage Description 4.0
Fence Wood
Pool None
Community Features Suburban
Accessibility Parking
Parking Type Carport, Garage
Total Parking Spaces 9
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Entry Level One
Sewer Unknown
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 09713317
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to Loan
Special Listing Condition Standard
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Bought with Randall Mycorn • R.l.M. Equities, Inc.