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French Park 2 On A Lot 833 N Lacy St

8 Unit Apartment Building $3,394,841 CAD ($424,355 CAD/Unit) 5% Cap Rate Santa Ana, CA 92701

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Investment Highlights

Corner Lot
On-Site Coin-Op Laundry

Value-Add Opportunity

Executive Summary

Great Value-Add opportunity in the renowned French Park neighborhood in Santa Ana. Located 1 block away from East Civic Center Drive. Be right in the action of the redevelopment going on in Downtown Santa Ana. This is a pair of fourplexes, one facing 506 Vance St and one facing 833 N Lacy. Both have a similar layout: eight one-bedroom floorplans with an eat-in kitchen, living room, and full bathroom. There are four ground-level units and four units on the second level, all with individual access. A third building houses the community/coin-op washer and dryer; the washer/dryer units are leased. Seven one-car garage spaces are available for tenant use; three face the alley towards the North East, and four face Vance St on the North West Side. The units' flooring is a combination of laminate tile and vinyl flooring, and countertops are tile. All tenants are on a month-to-month tenancy.

Operating and Financials
Third Party Reports

Financial Summary (Actual - 2023) Click Here to Access	Annual (CAD)	Annual Per SF (CAD)
Gross Rental Income	$99,999	$9.99
Other Income	$99,999	$9.99
Vacancy Loss	$99,999	$9.99
Effective Gross Income	$99,999	$9.99
Net Operating Income	-	-

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income (CAD)
Annual	$99,999
Annual Per SF	$9.99

Other Income (CAD)
Annual	$99,999
Annual Per SF	$9.99

Vacancy Loss (CAD)
Annual	$99,999
Annual Per SF	$9.99

Effective Gross Income (CAD)
Annual	$99,999
Annual Per SF	$9.99

Net Operating Income (CAD)
Annual	-
Annual Per SF	-

Property Facts

Price	$3,394,841 CAD	Building Class	C
Price Per Unit	$424,355 CAD	Lot Size	0.20 AC
Sale Type	Investment	Building Size	5,880 SF
Cap Rate	5%	Average Occupancy	100%
Gross Rent Multiplier	14	No. Stories	2
No. Units	8	Year Built	1946
Property Type	Multifamily	Parking Ratio	1.19/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	$3,394,841 CAD
Price Per Unit	$424,355 CAD
Sale Type	Investment
Cap Rate	5%
Gross Rent Multiplier	14
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.20 AC
Building Size	5,880 SF
Average Occupancy	100%
No. Stories	2
Year Built	1946
Parking Ratio	1.19/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.