1426 South Minnie Street

Santa Ana, CA 92707

$4,720,000
Price
18
Beds
20
Baths
14,268 Sq. Ft.
$331 / Sq. Ft.
14,268
Sq. Ft.
$331
per Sq. Ft.

Description

Great cashflow! Market CAP Rate is 8.24%. Current CAP is 6%. 20 high demand rental units located in the heart of Orange County. Separate APN numbers so buyer does not need on-site manager. Amenities include a spacious and quiet central courtyard, security doors, on-site laundry, and ample surface parking. Minnie Street is located just south of Santa Ana’s Downtown and is within the Pacific Park neighborhood. The property is within 1 mile of the bustling retail corridor of Downtown Santa Ana which...Great cashflow! Market CAP Rate is 8.24%. Current CAP is 6%. 20 high demand rental units located in the heart of Orange County. Separate APN numbers so buyer does not need on-site manager. Amenities include a spacious and quiet central courtyard, security doors, on-site laundry, and ample surface parking. Minnie Street is located just south of Santa Ana’s Downtown and is within the Pacific Park neighborhood. The property is within 1 mile of the bustling retail corridor of Downtown Santa Ana which provides residents with convenient access to a plethora of retail, dining, and entertainment options. The property is conveniently located within 0.75 miles to Kennedy Elementary School, Lathrop Intermediate School, and Century High School. Convenient excess to I-5 freeway. Separate electric meters paid by tenants. The landlord pays for water, trash, gas, and sewer. 8-2 bedrooms and 12-1 bedroom. The rent is below market bringing upside opportunity to increase rents by new buyer. Current actual income is $403,404 with 6% CAP. Market rent is $508,800.
  1. Listed by Benjamin Lin • DRE #01383988 • Brokerage DRE #01804524 • 1000 Realty Corporation • 626-233-3678

Property Details for 1426 South Minnie Street

Parking Spaces Total
20
Private Pool
No
Total Units
20.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
14268
Assessor Parcel Number
014-252-05
Property Attached YN
true
LISTING UPDATED: 07/23/2024 09:59 AM

Property Details for 1426 South Minnie Street

StatusActive
MLS #AR24144156
Days on Market169
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
CountyOrange County

Building Information for 1426 South Minnie Street

Building/Complex1426 S Minnie StFloor-Stories2Residences-Pet Policy-Year Built1961Building Size-

Property Information for 1426 South Minnie Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $403,404
  • Gross Scheduled Income: $403,404
  • Net Operating Income: $283,408
  • Cap Rate: 6.0
Expense Details
  • Operating Expense: $119,996
  • New Taxes Expense: $59,000
  • Gardener Expense: $2,400
  • Fuel Expense: $12,000
  • Electric Expense: $1,200
  • Insurance Expense: $9,600
  • Maintenance Expense: $13,200
  • Professional Management Expense: $0
  • Trash Expense: $8,522
  • Water Sewer Expense: $14,074
  • Total Expenses: $119,996
Tax / Assessment Info
  • Tax Tract Number: 3533
  • Tax Census Tract: 744.03
  • CFD/Mello-Roos Fee: $2,565
  • Tax Lot: 37
Community / Development
Community / Development
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: n/a
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Additional Parcels Description: 01425206
  • Lot Features: 36-40 Units/Acre
  • Number Of Units: 20
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 11
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,502
  • Unit Type Total Rent: $16,524
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,778
  • Unit Type Total Rent: $1,778
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,850
  • Unit Type Total Rent: $1,850
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,901
  • Unit Type Total Rent: $1,901
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,778
  • Unit Type Total Rent: $1,778
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,778
  • Unit Type Total Rent: $1,778
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 5
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,901
  • Unit Type Total Rent: $1,901
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 6
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,954
  • Unit Type Total Rent: $1,954
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,778
  • Unit Type Total Rent: $1,778
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,778
  • Unit Type Total Rent: $1,778
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 9
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 21
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 1426 South Minnie Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1426 South Minnie Street

Taxable ValueLand$2,122,416Additions$318,362Total$2,440,778
Tax Record2024$29,820 ($2,485 / month)
Home Facts
Total Finished SqFt7,135 SqFtAbove Grade Finished SqFt7,135 SqFtStories2Lot Size10,368 SqFtStyleMulti-Family Res (5+ Units)Year Built1961CountyORANGEAPN014-252-05

Schools near 1426 South Minnie Street

This home is within Santa Ana Unified School District.
Rating
School
Type
Grades
Distance
Madison Elementary School
Public - K to 6
Julia C. Lathrop Intermediate School
Public - 6 to 8
Century High School
Public - 9 to 12
Cesar E. Chavez High School
Public - 9 to 12
Rating
School
Distance
Madison Elementary School
PublicK to 6

Julia C. Lathrop Intermediate School
Public6 to 8

Century High School
Public9 to 12

Cesar E. Chavez High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1426 South Minnie Street, Santa Ana, CA 92707

1426 South Minnie Street is a multi-family home for sale in Santa Ana, CA 92707. This property was listed for sale on July 13, 2024 by 1000 Realty Corporation, it's currently listed at $4,720,000. It has been on the market for a total of 169 days and was last sold on November 17, 2017. This listing's school district is Santa Ana Unified School District. Nearby schools include Madison Elementary School, Julia C. Lathrop Intermediate School and Century High School. 1426 South Minnie Street is a 18-bed, 20-bath, 14,268 sqft multi-family home built in 1961.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of 1000 Realty Corporation, Benjamin Lin, DRE #01383988

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.