3 Units - Orange
1914 E. Adams Ave. Orange
Drive By Only - Do Not Disturb Tenants - Tenants Do Not Know Property Is For Sale
RE/MAX Commercial - Apartment Sales Division is pleased to present a freshly painted Orange triplex located on a large corner lot. Upside in rents - market rents are approx. $2,300 for 2 bdrm units and $1,650 for 1 bdrm units. Only 12.3 x gross on market rents and 6.07% cap rate and 7% cash on cash return on market rents. Freshly painted triplex located on corner lot. Two units are two bedroom 1 bath. These two units are townhouse two story style. Third unit is one bedroom and bathroom located upper level over three one car garages. The two story units have first floor fireplaces and laundry hookups on patio off kitchen. Newer vinyl windows. Separate water heaters for each unit. Two new water heaters. Separate enclosed garage for each unit. Very low expenses – owner pays for water, trash, insurance and annual fire inspection only. Good long term tenants. Huge lot with possibility to add another unit and open back fence for more parking pads, carports or garages. Excellent location - Walking distance to Tustin Ave. Close proximity to plenty of restaurants, the U.S. Post Office and shopping. Close to 55 freeway and Chapman University.
Orange Rent Trends
As of December 2019, average rent for an apartment in Orange, CA is $2194 which is a 3.14% increase from last year when the average rent was $2125 , and a 0.82% increase from last month when the average rent was $2176.
One bedroom apartments in Orange rent for $1901 a month on average (a 1.47% increase from last year) and two bedroom apartment rents average $2359 (a 0.13% increase from last year).
Investment Considerations for Orange Real Estate
There are a number of factors to consider, including:
Orange is a larger medium-sized city located in the state of California. With a population of 139,484 people and 28 constituent neighborhoods, Orange is the 41st largest community in California.
Unlike some cities where white-collar or blue-collar occupations dominate the local economy, Orange is neither predominantly one nor the other. Instead, it has a mixed workforce of both white- and blue-collar jobs. Overall, Orange is a city of sales and office workers, professionals, and service providers. There are especially a lot of people living in Orange who work in office and administrative support (13.72%), sales jobs (11.57%), and management occupations (11.52%).
Also of interest is that Orange has more people living here who work in computers and math than 95% of the places in the US.
One thing noticeable about Orange, although not a huge city, is that it has a large population of people who are young, single, educated, and upwardly-mobile career starters. That’s because Orange is full of single people in their 20s and 30s and who have undergraduate or graduate degrees and are starting careers in professional occupations. This makes Orange a pretty good place for young, educated career starters looking to find many people like themselves, with good opportunities for friendships, socializing, romance, and fun.
The citizens of Orange are very well educated compared to the average community in the nation: 34.31% of adults in Orange have a bachelor's degree or even advanced degree.
|One 2-bedroom 1-bath||$1,600|
|One 2-bedroom 1-bath||$1,550|
|One 1-bedroom 1-bath||$1,200|
Cash Flow Analysis
|Gross Scheduled Income||$52,200|
|Operating Expenses||$10,400 (20%)|
|Net Operating Income||$41,800|
|Down Payment||$231,250 (25%)|
Call or E Mail to request a Marketing Package and 10 Year Financial Analysis of this property. Marketing Package includes Complete Property Information, Sales and Rent Comparable Analysis. 10 Year Financial Analysis includes Complete Cash Flow Analysis, Itemized Expenses, Expected Cash Flow, Return on Initial Equity, Expected Gross Income Increase, Tax Benefits, Mortgage Principal Reduction, Expected Appreciation, Depreciation Analysis, Adjusted Cost Basis, Capital Gains Tax On Sale and more.