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Listed by Gary Tolfa • Triqor Group
$ 5,775,000
Est. payment /mo
New
2221 E Lenita Lane Santa Ana, CA 92705
16,897 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 16,897 sqft
Price per Sqft $341
MLS Listing ID CRPW25262411
HOA Y/N No
Year Built 1969
Lot Size 0.659 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
We are pleased to present Casa Los Amigos, a 22-Unit condo community, currently being operated as apartments, in the city of Santa Ana, CA. The property features a mix of spacious 1 and 2-bedroom units, equipped with laminate wood flooring, balconies/patios, stainless steel sinks, gas wall heaters, wall a/c, and ceiling fans. The property amenities include controlled access, gated and covered parking (19 covered, 8 open), lush landscaping, and a shared laundry facility. The asset has been well maintained and professionally managed throughout ownership. Years prior, ownership converted and permitted the units into individually parceled condos, providing a buyer with the opportunity to sell the units individually. Casa Los Amigos currently generates a 5.6% cap rate on existing income, with a proforma cap rate of 8.0%. This well-maintained, pride-of-ownership asset offers investors strong in-place income with significant and flexible upside potential in an excellent location.
Location
State CA
County Orange
Interior
Heating Forced Air
Fireplace No
Laundry Other
Building
Lot Description Irregular Lot
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