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#32 549 N Tustin Ave 10 Unit Apartment Building $3,530,575 CAD ($353,057 CAD/Unit) 5.62% Cap Rate Santa Ana, CA 92705
Investment Highlights
- Well-maintained building in charming, gated community
- Community includes a swimming pool, play area and on-site laundry
- HOA handles all management and maintenance
- Off-street parking for every unit
- Convenient location close to 5 & 55 freeways
Executive Summary
549 N Tustin Ave. #32 is excellent opportunity to acquire a 10-unit multifamily building on the border of Santa Ana and Tustin. Located at 549 N Tustin Ave, this multifamily
asset was built in 1976. It offers ten large and well maintained 1 bedroom + 1 bathroom units. The building boasts a total of 7,040 gross rentable square feet and is part of a
community of 35 similar buildings. The complex is managed by an HOA which staffs an on-site management office. Gated access, two pool areas, a large playground, off-street
parking and on-site laundry facilities make the property particularly appealing for renters and landlords.
The property conveniently located right on the border of Santa Ana and Tustin with onramps to both the 55 and 5 freeways a couple of minutes away. The property is walking
distance to Subway Restaurant, Country Café, Noodle Place and more. Just to the North of the property are multiple hospitals and medical clinics offering convenient care and
job opportunities. Sports fans will find the location particularly appealing due to its convenient location about fifteen minutes by car to The Honda Center and Angel Stadium.
For the right investor, this multifamily asset represents a the perfect opportunity to generate years of steady cash flow with minimal management or maintenance
responsibilities. With the HOA handling management, maintenance and leasing this is the perfect passive investment for an owner who is looking for a completely hands-off
ownership experience. As units turn over, the upside in rental income will be easily achievable.
asset was built in 1976. It offers ten large and well maintained 1 bedroom + 1 bathroom units. The building boasts a total of 7,040 gross rentable square feet and is part of a
community of 35 similar buildings. The complex is managed by an HOA which staffs an on-site management office. Gated access, two pool areas, a large playground, off-street
parking and on-site laundry facilities make the property particularly appealing for renters and landlords.
The property conveniently located right on the border of Santa Ana and Tustin with onramps to both the 55 and 5 freeways a couple of minutes away. The property is walking
distance to Subway Restaurant, Country Café, Noodle Place and more. Just to the North of the property are multiple hospitals and medical clinics offering convenient care and
job opportunities. Sports fans will find the location particularly appealing due to its convenient location about fifteen minutes by car to The Honda Center and Angel Stadium.
For the right investor, this multifamily asset represents a the perfect opportunity to generate years of steady cash flow with minimal management or maintenance
responsibilities. With the HOA handling management, maintenance and leasing this is the perfect passive investment for an owner who is looking for a completely hands-off
ownership experience. As units turn over, the upside in rental income will be easily achievable.
Property Facts
| Price | $3,530,575 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $353,057 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 8.45 AC |
| Cap Rate | 5.62% | Building Size | 7,040 SF |
| Gross Rent Multiplier | 11.38 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | R1, Santa Ana - Single-Family Residential | ||
| Price | $3,530,575 CAD |
| Price Per Unit | $353,057 CAD |
| Sale Type | Investment |
| Cap Rate | 5.62% |
| Gross Rent Multiplier | 11.38 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 8.45 AC |
| Building Size | 7,040 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1976 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R1, Santa Ana - Single-Family Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Storage Space
Site Amenities
- Laundry Facilities
- Spa
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $2,584 CAD | 700 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 930-715-23 | Improvements Assessment | $821,752 CAD |
| Land Assessment | $1,557,027 CAD | Total Assessment | $2,378,779 CAD |
Property Taxes
Parcel Number
930-715-23
Land Assessment
$1,557,027 CAD
Improvements Assessment
$821,752 CAD
Total Assessment
$2,378,779 CAD
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#32 | 549 N Tustin Ave
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