8
See all 8 photos
$5,775,000
Est. payment /mo
16,897 SqFt
Active
2221 East Lenita Lane Santa Ana, CA 92705
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Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 16,897 sqft
Price per Sqft $341
MLS Listing ID PW-25262411
Year Built 1969
Lot Size 0.659 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
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
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
Building
Lot Description Irregular Lot
Sewer Public Sewer
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