315 South Garnsey Street
Description
with amenities such as garages and open parking, as well as an on-site
laundry facility. This property presents a value-add opportunity with significant
rental upside, making it an attractive investment for savvy buyers. Additionally, the property offers the opportunity to convert the garages into
an Additional Dwelling Unit (ADU), further increasing the rental income
potential. The buyer must verify this possibility with the...Built in 1964, this property features five one-bedroom apartments, complete
with amenities such as garages and open parking, as well as an on-site
laundry facility. This property presents a value-add opportunity with significant
rental upside, making it an attractive investment for savvy buyers. Additionally, the property offers the opportunity to convert the garages into
an Additional Dwelling Unit (ADU), further increasing the rental income
potential. The buyer must verify this possibility with the City of Santa Ana
to ensure compliance with local zoning and building regulations. Its prime location is just 1.10 miles from Downtown Santa Ana and the lively
4th Street Market, providing tenants with easy access to local businesses,
dining, and nightlife. Additionally, the property is within 1.80 miles of
Santa Ana College, appealing to students and faculty. With close proximity
to the 5 Interstate, residents can conveniently connect to major employment
hubs across Orange and Los Angeles Counties.
- Listed by Justin Butler • DRE #02092220 • Brokerage DRE #02128238 • Kirklen Investment Group • 949-942-1302
Property Details for 315 South Garnsey Street
Property Details for 315 South Garnsey Street
| Status | Active |
|---|---|
| MLS # | OC24206516 |
| Days on Market | 74 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1964 |
| County | Orange County |
Building Information for 315 South Garnsey Street
Property Information for 315 South Garnsey Street
- Gross Income: $75,060
- Gross Scheduled Income: $73,260
- Vacancy Allowance Rate: 3
- Gross Operating Income: $75,060
- Net Operating Income: $41,344
- Laundry Income: $1,800
- Gross Multiplier: 17.75
- Cap Rate: 3.18
- Operating Expense: $31,518
- New Taxes Expense: $15,694
- Gardener Expense: $1,220
- Fuel Expense: $840
- Licenses Expense: $250
- Electric Expense: $360
- Insurance Expense: $4,000
- Maintenance Expense: $3,505
- Professional Management Expense: $0
- Other Expense: $1,250
- Other Expense Description: reserves
- Trash Expense: $0
- Water Sewer Expense: $3,900
- Supplies Expense: $500
- Total Expenses: $31,518
- Tax Block: C
- Tax Tract Number: 101
- Tax Census Tract: 749.01
- CFD/Mello-Roos Fee: $1,290
- Tax Lot: 5
- Community Features: Curbs, Gutters, Sidewalks, Storm Drains
- Laundry: Yes
- Laundry Features: Common Area
- Entry Location: Side
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: Cul-De-Sac
- Number Of Units: 5
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 3
- Uncovered Spaces: 4
- Open Other Spaces Total: 4
- Parking Garage Spaces: 3
- Carport Spaces: 0
- Builders Tract Name: Other
- Builders Tract Code: Other (OTHR)
- Unit Type Units Total: 5
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 3
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,221
- Unit Type Total Rent: $6,105
- Unit Type Pro Forma: 9250
- Unit Type Type: 1
- Rent Controlled: Yes
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 5
- Number Of Separate Gas Meters: 5
- Number Of Separate Water Meters: 1
Property History for 315 South Garnsey Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 315 South Garnsey Street
Schools near 315 South Garnsey Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Martin R. Heninger Elementary School PublicK to 8 | ||
Willard Intermediate School Public6 to 8 | ||
Santa Ana High School Public9 to 12 | ||
Nova Academy Early College High Charter9 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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Listing Courtesy of Kirklen Investment Group, Justin Butler, DRE #02092220
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.