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Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26125402
Construction Status Building Permit,Repairs Cosmetic,Updated/Remodeled
HOA Y/N No
Year Built 1986
Annual Tax Amount $16,500
Lot Size 9,583 Sqft
Property Sub-Type Single Family Residence
Property Description
Investors, take notice. Opportunities offering this combination of immediate income, tenant STABILITY , and documented expansion potential are exceptionally rare in today's Orange County market.
This unique multi-unit investment features TWO DETACHED BUILDINGS on one lot with separate addresses (1003 & 1001 W. Myrtle Street), creating a highly desirable cottage-style rental environment that tenants love. Unlike traditional apartment properties, all units enjoy ** privacy with NO SHARED WALLS, resulting in stronger tenant retention and consistent rental demand.
**Immediate Cash Flow From Day One**
Currently generating approximately $107,700 in annual gross income with established tenants already in place, providing immediate revenue and minimizing vacancy risk.
Separate LAUNDRY Room - Additional Cash Income
Owner only pays for Taxes and Insurance
Low maintenance property.
Desirable Unit Mix
Three residential units across two standalone structures:
• Two (2) 2-Bedroom / 1-Bath Units
• One (1) 3-Bedroom / 2-Bath Unit
Significant Value-Add Opportunity
What truly SEPARATES this property from competing investments is the seller's extensive ADU preparation work.
Existing garage structures present a documented pathway for future ADU conversion, allowing investors to potentially increase rental income and overall property value.
To simplify execution, the seller will provide a comprehensive due diligence package including:
• Stamped ADU/Garage Conversion Plans
• Permit Status and Supporting Documentation
• Site Plans and Property Layout
• Pro Forma Income Projections for Future ADUsPrime Central Location
Strategically positioned in the heart of Santa Ana with convenient access to major freeways, employment centers, shopping, dining, and schools. The property's central Orange County location continues to support strong tenant demand and long-term rental growth.
Seller is organized, motivated, and prepared. Complete due diligence package available upon request.
Agent is related to sellers.
** Don't miss this opportunity to acquire a cash-flowing asset with built-in upside in one of Orange County's most active rental markets.
Showing by appointments upon receiving complete offer package.
Tenant Occupied, Please DRIVE by only.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Zoning R2
Interior
Interior Features Granite Counters, Multiple Staircases, Open Floorplan, Pantry, Quartz Counters, Storage, Bedroom on Main Level, Loft, Main Level Primary
Heating None
Cooling None
Flooring Laminate, Tile, Vinyl
Fireplaces Type None
Fireplace No
Appliance Electric Oven, Electric Range, Gas Range, Gas Water Heater, Tankless Water Heater, Water Heater
Laundry Common Area, Laundry Room
Exterior
Parking Features Door-Multi, Direct Access, Door-Single, Garage, On Site, Oversized, Public, One Space
Garage Spaces 5.0
Garage Description 5.0
Fence Fair Condition
Pool None
Community Features Curbs, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Shingle
Accessibility Parking
Total Parking Spaces 14
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level One,Two
Sewer Public Sewer
Water Public
Level or Stories One, Two
New Construction No
Construction Status Building Permit,Repairs Cosmetic,Updated/Remodeled
Others
Senior Community No
Tax ID 00824142
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard, Trust
MORTGAGE CALCULATOR
NEARBY SCHOOL & BUSINESS
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