253 S Lemon ST Orange, CA 92866
Pending
$3,750,000
12 Units
2 Beds
1 Baths
8,640 Area(sq.ft.)
8,303 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 12 | 2 | 1 | No | $ 1,787 | $ 21,454 | $ 27,600 |
| 1 | 12 | 24 | 12 | $ 21,444 | $ 257,448 | $ 331,200 |
| MLS #: | OC24205368MR |
| Days On Market: | 60 |
| County: | Orange County |
| Property Type: | Residential Income |
| Price per ft2: | $ 434 |
| Price per unit: | $ 312,500 |
| Year Built: | 1924 |
Property Details
This well located 12-unit apartment building is within walking distance to both Chapman University and Old Town Orange. Presented as a value-add opportunity, all 12 units are two-bedroom one bath townhouse style apartments. Gas and electricity are individually metered while the landlord provides hot and cold water and trash. There is no on-onsite parking and a small ex-carport structure, in the rear of the property, may offer and opportunity to add an ADU to the property. Both buildings have copper plumbing and there is a common laundry room on site.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Gross Operating Income: | $ 252,273 |
| Total Annual Expense: | $ 92,823 |
| Net Operating Income: | $ 159,450 |
| Cap Rate: | 4.25% |
Structure
| Community Features: | Suburban |
| Sewer: | Assessments |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
Interior
| Laundry: | Laundry Area |
| Laundry Equipment: | Lease |
| Laundry Income: | 2628.00 |
Exterior
| Pool: | No |
Detailed Map
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