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405 Stevens Avenue
Santa Ana, CA 92707
Sold
405 W Stevens Ave is a highly sought after Covington style 4 unit apartment building with an attractive unit mix comprised of (1) One-Bedroom/One-Bathroom, (2) Two- Bedroom/Two-Bathroom, and (1) Three- Bedroom/Two-Bathroom totaling 4,109+/- of rentable square feet. This is a great value-add opportunity for any investor seeking to benefit from an achievable 38% upside in rental revenue. Current ownership has professionally maintained the asset and has recently completed a number of capital improvements to select units including laminate flooring, new paint, and a new bathroom making for a hassle free transition for the new owner. The property boasts many desirable features such as the downstairs units having their own private patios, the upstairs units enjoying oversized balconies, (4) attached single car garages along with 2 carports, an on-site laundry room generating additional income, and each unit is individually metered for gas and electric. This property sits just 4 minutes to the South Coast Plaza and located less than a mile from major Orange County highways providing direct access to Los Angeles, San Diego, and the Inland Empire. Additionally, the property sits a mere (5) minutes from John Wayne Airport, (45) minutes from LAX and (60) from San Diego. This, in addition to the sustained demand for new development, should continue to drive both population growth and increased median household income, which ultimately provides much optimism for continued rent growth within the submarket moving forward.
PROPERTY INFORMATION
| MLS # | PW23068814 | Lot Size | 7,405 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Quadruplex |
| Price | $ 1,839,000
Price Per SqFt: $ 448 |
DOM | 624 Days |
| Address | 405 Stevens Avenue | Type | Residential Income |
| City | Santa Ana | Sq.Ft. | 4,109 Sq. Ft. |
| Postal Code | 92707 | Garage | 4 |
| County | Orange | Year Built | 1969 |
| Bed / Bath | 8 / 0 | Parking | 4 |
| Built In | 1969 | Status | Closed |
| Sold Date | 2023-09-01 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area, See Remarks |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Heating | Yes |
| Heating Information | Central |
| Has Cooling | No |
| Cooling Information | None |
| Flooring Information | Laminate |
| EntryLocation | 1 |
| Entry Level | 1 |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| FoundationDetails | See Remarks |
| Roof | Shingle |
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,962
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/20/2023 | Active Under Contract | $1,839,000 |
| 04/24/2023 | Listed | $1,839,000 |
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Listing provided courtesy of Daniel Hopkins, Lyon Stahl Investment Real Est. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
