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507 Daisy
Santa Ana, CA 92703
Sold
(503 N Daisy APN 007-052-60 & 507 N Daisy APN 007-052-59) were sold together for a total of $1,725,000. Opportunity to own 2019 Construction residential income property with a 3-year lease renewal in place producing $137,837 in cash flow each year. These two side-by-side houses are being sold as a grouping, each with 4 bedrooms and 3 bathrooms, were built to suit the tenant, which is a state-licensed residential substance use disorder treatment center. The tenant has been located in the houses for 3 years, and just signed a renewal for an additional 3 years starting on 9/1/2023. Tenant pays all expenses and repairs, with the exception of Property Taxes, Insurance, and repairs associated with the foundation, exterior walls, or roof of the property. This listing is truly a passive income owner’s dream, with minimal management needs, and a true 7.7% in place cap rate (10.7x GRM - one of the most attractively priced residential income properties on the market in Orange County! Positive leverage on day 1 will boost cash on cash returns above 7.7%, and 3 years of lease term remaining! DISTURBING THE TENANTS WITHOUT PERMISSION IS PROHIBITED BY LAW, PURSUANT TO CALIFORNIA DEPARTMENT OF HEALTH REGULATIONS. Tours can be provided upon receipt of an LOI or Offer, and proof of funds. Full property inspection can be conducted after execution of contract. Also inquire about a nearby property with similar financial performance that can be acquired with this listing as a portfolio.
PROPERTY INFORMATION
| MLS # | OC23068081 | Lot Size | 10,000 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Single Family Residence |
| Price | $ 1,725,000
Price Per SqFt: $ 623 |
DOM | 625 Days |
| Address | 507 Daisy | Type | Residential Income |
| City | Santa Ana | Sq.Ft. | 2,770 Sq. Ft. |
| Postal Code | 92703 | Garage | 4 |
| County | Orange | Year Built | 2019 |
| Bed / Bath | 8 / 0 | Parking | 12 |
| Built In | 2019 | Status | Closed |
| Sold Date | 2023-08-18 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | In Kitchen |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Dishwasher, Gas Oven, Gas Range, Microwave, Refrigerator |
| Has Heating | Yes |
| Heating Information | Central |
| Room Information | All Bedrooms Down, Family Room, Kitchen |
| Has Cooling | Yes |
| Cooling Information | Ductless |
| Flooring Information | Laminate, Tile |
| InteriorFeatures Information | Open Floorplan, Recessed Lighting, Stone Counters |
| DoorFeatures | Sliding Doors |
| EntryLocation | 1 |
| Entry Level | 1 |
| Has Spa | No |
| SpaDescription | None |
| WindowFeatures | Double Pane Windows |
| SecuritySafety | Carbon Monoxide Detector(s), Smoke Detector(s) |
EXTERIOR FEATURES
| ExteriorFeatures | Lighting |
| Roof | Composition, Shingle |
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,840
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/24/2023 | Active Under Contract | $1,725,000 |
| 04/23/2023 | Listed | $1,800,000 |
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Listing provided courtesy of Brian Wollner, Coldwell Banker Realty. 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.
