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Sheryl Lynn Johnson

Real Broker

sheryllynn@connectingheartstohomes.com +1(805) 907-8270

Listed by Carmen Abram Tawfik • T.N.G. Real Estate Consultants

$ 1,590,000

Est. payment -/mo

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Active

1003 West Myrtle Street Santa Ana, CA 92703

3,043 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 3,043 sqft

Price per Sqft $522

MLS Listing ID PW-25125649

Year Built 1986

Lot Size 9,583 Sqft

Property Sub-Type Single Family Residence

Property Description

BACK ON THE MARKET at no fault to seller - Buyer unable to close escrow on their other 1031 replacement sales. CREATIVE FINANCING options available. LEASE OPTION. SELLER FINANCE, Seller may carry existing loan. Any other creative terms welcome! Turnkey Investment ** STRONG 5% Cap Rate, Enjoy solid returns $107,000+ annual income from day one based on current rents, with room for upside through rent increases. Reach CAP rate - Upto 8% CAP with the NEW ADU ** Reliable tenant already in place, paying over market rent over the past 3 years! THREE SEPERATE, detached residences. Total TWO buildings STAND ALONE, completely DETACHED. SEPARATELY metered for gas, electric and water. Each has its own mailing address: 1001 and 1003 W Myrtle. Nine (9) spacious rooms, 4 Full Bath, 3 Full Kitchen & 5 car garage. Total 14 parking spots on this HUGE 10,000 lot ** In 2022 MAJOR REMODEL for ALL buildings was done, NEW windows, NEW floors everywhere, NEW kitchen & bathroom cabinets. You can ADD ** an ADU in the 3-car garage and build an addition to the front house in the 2-car garage. You will end up with FOUR completely detached, separate residences, bringing in ADDITIONAL rent approx. $40,000 annually only from ** ADU** Seller has APPROVED PLANS from the city & Building PERMIT for ADU (see supplements) Will be TRANSFERRED at NO additional cost. IN 1986, BACK house SFR was build split into 2 residences from inside. Original FRONT single family residence is one SINGLE story, completely DETACHED with 2 beds & 1 FULL Bath, front, side and backyard. One of the strongest rental markets in So Cal. The City of Santa Ana is a historic city w/ vibrant downtown located in OC. Even with only a 3% rent increase - you will end up with over $3,500 additional rent each consecutive year. CENTRALLY located, close to downtown, transportation, schools, shopping & park. MAJOR freeways 22,5,57. Please DO NOT go direct, do not disturb tenants. Offers subject to interior inspection. All rooms, landscape are virtually staged. Must see in person to appreciate the flow and floor plan. Front House is the original that was built in 1936 and MAJOR remodeling was done in 2022. Some insights into neighborhood views from surveys: respondents say they would walk alone at night, and say streets are well-lit. Contractor info to add ADU are available. ** PROPERTY VIDEO and rental cash flow are available upon request.

Location

State CA

County Orange

Area 69 - Santa Ana South Of First

Zoning R2

Interior

Interior Features 2 Staircases, Granite Counters, Open Floorplan, Storage

Heating None

Flooring Laminate, Tile, Vinyl

Fireplaces Type None

Laundry Common Area, Individual Room

Exterior

Parking Features Garage, Garage - Single Door, Garage - Three Door, Garage - Two Door, On Site, Oversized, Parking Space, Public, Direct Garage Access

Garage Spaces 5.0

Pool None

Community Features Curbs, Sidewalks

Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected

View Y/N No

View None

Building

Lot Description 2-5 Units/Acre

Sewer Public Sewer

Sheryl Lynn Johnson

Broker Associate | License ID: 01446902

+1(805) 907-8270

Sheryl Lynn Johnson

1003 West Myrtle Street Santa Ana, CA 92703

Key Details

Location

Interior

Exterior

Building

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1003 West Myrtle Street