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    2140 S Main Street

    Santa Ana, CA 92707
    • $14,750,000
    • STATUS: Active
    • ON SITE: 43 days
    • ID#: OC20191672
    UPDATED: 78 min ago
    $14,750,000
    • 0
      BEDS
    • 0.88
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 48,459
      SQFT
    • $304
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1988
    County:

    School Ratings & Info

    Description

    Southtown at Main is a mixed-use investment property consisting of 44 multifamily units and 4 retail suites located at 2140 South Main Street, Santa Ana, CA. Built in 1988, Southtown at Main offers a fantastic unit mix consisting of spacious studio, one-bedroom, and two-bedroom floor plans, which allow the property to appeal to a wider renter base. The property provides a wide range of amenities including controlled access with keypad entry, gated subterranean parking, an on-site manager's office, a business center, a fitness center, an elevator, and on-site laundry facilities. Since 2015, current ownership has invested nearly one-million dollars towards improving 30 of the 44 residential units, as well as the property's amenities and exterior (contact Listing Agent for more details). A continued renovation plan to complete the remaining units will help a future investor achieve market-level rents across all unit types. Southtown at Main has an ideal Santa Ana location, positioned equidistant from Downtown Santa Ana to the north and the South Coast Metro to the south. The property is also situated within a two and a half mile radius of nearby primary transportation arteries, such as State Routes 55 and 73 and Interstates 5 and 405, providing residents with easy access to major employment centers throughout Orange County. In the unit mix, the last four studios are the four retail suites.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-29T20:32:10.87. 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 Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/110047110
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    2140 S Main Street Santa Ana, CA 92707

    • Price: $14,750,000
    • Status: Active
    • Updated: 78 min ago
    • ID#: OC20191672
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.88
    Acres
    48,459
    SQFT
    $304
    $/SQFT
    1988
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Orange
    Area:
    699 - Not Defined
    Property Description
    Southtown at Main is a mixed-use investment property consisting of 44 multifamily units and 4 retail suites located at 2140 South Main Street, Santa Ana, CA. Built in 1988, Southtown at Main offers a fantastic unit mix consisting of spacious studio, one-bedroom, and two-bedroom floor plans, which allow the property to appeal to a wider renter base. The property provides a wide range of amenities including controlled access with keypad entry, gated subterranean parking, an on-site manager's office, a business center, a fitness center, an elevator, and on-site laundry facilities. Since 2015, current ownership has invested nearly one-million dollars towards improving 30 of the 44 residential units, as well as the property's amenities and exterior (contact Listing Agent for more details). A continued renovation plan to complete the remaining units will help a future investor achieve market-level rents across all unit types. Southtown at Main has an ideal Santa Ana location, positioned equidistant from Downtown Santa Ana to the north and the South Coast Metro to the south. The property is also situated within a two and a half mile radius of nearby primary transportation arteries, such as State Routes 55 and 73 and Interstates 5 and 405, providing residents with easy access to major employment centers throughout Orange County. In the unit mix, the last four studios are the four retail suites.
    Exterior Features

    Carport Spaces 24.00 Garage Spaces 71.00 Lot Features Landscaped Lot Size Source Assessor Lot Size Units Acres Parking Total 95.00 Pool Features None Pool Private YN No Property Attached YN No

    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 No Common Walls Laundry Features CommunityElectric Dryer HookupWasher Hookup

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features SidewalksStreet Lights Country Us Electric Expense 19950.00 Elevation Units Feet Fuel Expense 19950.00 Gross Income 1101391.00 Gross Operating Income 1057949.00 Gross Scheduled Income 1086048.00 Insurance Expense 22413.00 Land Lease YN No Laundry YN Yes Maintenance Expense 24000.00 Net Operating Income 643453.00 New Construction YN No New Taxes Expense 182477.00 Number Of Separate Electric Meters 48 Number Of Separate Gas Meters 48 Number Of Separate Water Meters 1 Number Of Units Leased 48 Operating Expense 414496.00 Other Expense 75225.00 Other Expense Description Other Other Income1 15343.00 Professional Management Expense 31738.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 90504.00 Total Expenses 414496.00 Trash Expense 18793.00 Vacancy Allowance Rate 4.00 Water Sewer Expense 19950.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Tyler Leeson of Marcus & Millichap Re Invest


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-29T20:32:10.87. 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 Keller Williams Realty. Licensed in the State of California, USA.

     
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