2221 E Lenita LN new Save Request In-Person Tour Request Virtual Tour
Santa Ana,CA 92705
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25262411
HOA Y/N No
Year Built 1969
Property Sub-Type Apartment
Property Description
We are pleased to present Casa Los Amigos, a 22-Unit condo community, currently being operated as apartments, in the city of Santa Ana, CA. The property features a mix of spacious 1 and 2-bedroom units, equipped with laminate wood flooring, balconies/patios, stainless steel sinks, gas wall heaters, wall a/c, and ceiling fans. The property amenities include controlled access, gated and covered parking (19 covered, 8 open), lush landscaping, and a shared laundry facility. The asset has been well maintained and professionally managed throughout ownership. Years prior, ownership converted and permitted the units into individually parceled condos, providing a buyer with the opportunity to sell the units individually. Casa Los Amigos currently generates a 5.6% cap rate on existing income, with a proforma cap rate of 8.0%. This well-maintained, pride-of-ownership asset offers investors strong in-place income with significant and flexible upside potential in an excellent location.
Location
State CA
County Orange
Area 70 - Santa Ana North Of First
Interior
Heating Forced Air
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 19
Pool None
Community Features Sidewalks
Total Parking Spaces 27
Private Pool No
Building
Lot Description Irregular Lot
Story 2
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 93095401
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Lease Land No