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1407 N Bush Street, Santa Ana, CA 92701

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1407 N Bush Street
Santa Ana, CA 92701

In Escrow / Under Contract: $12,550,000

Property Type: Commercial Apartments
MLS#: PW18239583

  • Building Size: 36394 SF
  • Lot Size: 20003 SF
  • Number of Units: 52
  • Year Built: 1987
  • Days on market: 106
  • Cap Rate: 3.90
  • Net Operating Income: $487,770
  • Gross Scheduled Income: $841,572
  • Rent Control: No
  • GRM: 14.47
  • Contact Listing Agent Direct:
  • Rick Applebaum, Morgan Skenderian

Property Description

The Bush Court Apartments, an exceptionally rare, newer construction 52-unit building, located in the heart of Santa Ana. Built in 1987, this investment opportunity is an ideal mix of 1 & 2 bedroom units. The Bush Court Apartments is comprised of (36) one bedroom/one bathroom units, (2) one bedroom/one bathroom + den units, and (14) two bedroom/two bathroom units. The building is generously parked with (88) community garage spaces with secured access. The majority of units have been renovated featuring remodeled kitchens, granite countertop, tile backsplashes, microwaves, porcelain tile flooring, etc., while exterior upgrades boast newer roofs, exterior paint, security cameras, security doors, solar panels, and LED Lighting. Tenants enjoy on-site laundry, patios/balconies, A/C and secured access and secured, covered parking. This investment opportunity offers an investor substantial room to improve income in a non-rent control environment with a predictably low expense ratio. The installation of the solar panel system, LED lighting and the already implemented utility reimbursement program simplifies management and creates great value for a new investor. Additional income from laundry and extra available parking further enhances the return The Bush Court Apartments is an exceptional investment opportunity to add to any already established investment portfolio.

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1407 N Bush Street, Santa Ana, CA 92701

Based on information from California Regional Multiple Listing Service, Inc. as of January 2, 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Listing provided by: Rick Applebaum, Morgan Skenderian

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