2418 Ponderosa Street

    Santa Ana, CA 92705
    • $1,390,000
    • STATUS: Active
    • ON SITE: 67 days
    • ID#: PW20015970
    $1,390,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,109
      SQFT
    • $338
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1969
    County:

    School Ratings & Info

    Description

    We are pleased to present 2418 Ponderosa Street, a well maintained, Covington inspired 4-plex in North East Santa Ana; bordering North Tustin and Orange. The property is ideally located within the Orange Unified School District boundaries and is freeway close with the 55 and 22 freeways just minutes away. The building structure is 4,120 square feet and sits atop a flat, rectangular lot. The property boasts an attractive unit mix of (1) 3 bedroom 1.75 bath, (2) 2 bedroom 1.75 bath, and (1) 1 bedroom 1 bath units which have balconies (upstairs) and patios (downstairs). Recent notable upgrades include a new 30 year composition shingle mansard roof, new exterior paint, and extensive damaged wood replacement. Additionally, all tenants have central heaters, wall air conditioning units, garage and open parking spaces along with access to the onsite laundry room which has leased laundry machines. The current annual rental income is $87,900 so a new owner will not need to aggressively raise rents to achieve market level rents. The Ponderosa Street 4-plex is a turnkey apartment building with great rents in a location that will be sought after for years to come.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-31T00:28:37.347. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.

    www.northsdrealty.com/homes/102519826

    2418 Ponderosa Street Santa Ana, CA 92705

    • Price: $1,390,000
    • Status: Active
    • ID#: PW20015970
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    4,109
    SQFT
    $338
    $/SQFT
    1969
    Built
    Neighborhood:
    NTS - North Tustin
    County:
    Orange
    Area:
    NTS - North Tustin
    Property Description
    We are pleased to present 2418 Ponderosa Street, a well maintained, Covington inspired 4-plex in North East Santa Ana; bordering North Tustin and Orange. The property is ideally located within the Orange Unified School District boundaries and is freeway close with the 55 and 22 freeways just minutes away. The building structure is 4,120 square feet and sits atop a flat, rectangular lot. The property boasts an attractive unit mix of (1) 3 bedroom 1.75 bath, (2) 2 bedroom 1.75 bath, and (1) 1 bedroom 1 bath units which have balconies (upstairs) and patios (downstairs). Recent notable upgrades include a new 30 year composition shingle mansard roof, new exterior paint, and extensive damaged wood replacement. Additionally, all tenants have central heaters, wall air conditioning units, garage and open parking spaces along with access to the onsite laundry room which has leased laundry machines. The current annual rental income is $87,900 so a new owner will not need to aggressively raise rents to achieve market level rents. The Ponderosa Street 4-plex is a turnkey apartment building with great rents in a location that will be sought after for years to come.
    Exterior Features

    Construction Materials Stucco Foundation Details Slab Garage Spaces 4.00 Lot Features Lot 6500-9999Rectangular Lot Lot Size Source Assessor Lot Size Units Square Feet Parking Total 7.00 Pool Features None Pool Private YN No Property Attached YN Yes Roof Mansard

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Flooring CarpetLaminateTile Heating CentralWall Furnace Heating YN Yes Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Sidewalks Country Us Electric Expense 297.00 Elevation Units Feet Fuel Expense 553.00 Gardener Expense 1020.00 Gross Income 88200.00 Gross Operating Income 85554.00 Gross Scheduled Income 88200.00 Insurance Expense 1400.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 300.00 Laundry YN Yes Maintenance Expense 2500.00 Net Operating Income 60286.00 New Construction YN No New Taxes Expense 15352.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 25268.00 Operating Expense Percent 29.00 Other Expense 250.00 Other Expense Description Admin Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Actual Rent 7325.00 Total Expenses 25268.00 Trash Expense 1116.00 Utilities Electricity ConnectedNatural Gas ConnectedWater Connected Vacancy Allowance 2646 Vacancy Allowance Rate 3.00 Water Sewer Expense 1821.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Michael Arp of Morgan Skenderian


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-31T00:28:37.347. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.

     
    The Houston Team | Compass CA DRE#01991628
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    Carlsbad CA, 92009