3708 S Marine Street

    Santa Ana, CA 92704
    • $1,485,000
    • STATUS: Closed
    • ON SITE: 74 days
    • ID#: PW19214776
    Sold - 11/04/2019
    $1,485,000
    SOLD - 11/04/2019
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,353
      SQFT
    • $341
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1968
    County:

    School Ratings & Info

    Description

    Very rare offering of a Covington-style fourplex with an outstanding South Coast Metro Area location. Located in Santa Ana in an approximately 107-parcel multi-family development which is adjacent to the city of Costa Mesa. South Coast Plaza is 3/4 mile to the SE. With in excess of $1.5 billion in yearly sales, this retail mall has the highest sales volume in the U.S. Orange Coast College, the OC Fairgrounds, John Wayne Airport and the headquarters of Calvary Chapel--Costa Mesa are all within a short drive from the property. The property consists of a single building which has a one-story, 3 BDR/1.75 BA unit in the front and three 2 BDR units in the two-story rear portion of the bulding. All units have individual water heaters and private yards or balconies. The building was constructed in 1968. There are four individual garage spaces plus five uncovered tandem spaces, all accessed from a rear alley. The 3 BDR units in this complex were designed to be desirable for owner occupancy and are very spacious, with a pitched roof and fireplace. As a result, these buildings are rarely offered for sale. There were no reported sales in this development in 2018 and the only reporsted 2019 sale was of two adjacent fourplexes which were master-leased to one party.The property is fully-occupied with month-to-month tenancies. The lease rates are significantly below market. The property is owned by an estate that is liquidating its portfolio of properties.

    Sold by Amy Bailey of Drouin Realty.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-22T19:32:20.687. 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 deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/98768319

    3708 S Marine Street Santa Ana, CA 92704

    • Price: $1,495,000
    • Status: Closed
    • Updated: 32 min ago
    • ID#: PW19214776
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    4,353
    SQFT
    $341
    $/SQFT
    1968
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    69 - Santa Ana South of First
    Property Description
    Very rare offering of a Covington-style fourplex with an outstanding South Coast Metro Area location. Located in Santa Ana in an approximately 107-parcel multi-family development which is adjacent to the city of Costa Mesa. South Coast Plaza is 3/4 mile to the SE. With in excess of $1.5 billion in yearly sales, this retail mall has the highest sales volume in the U.S. Orange Coast College, the OC Fairgrounds, John Wayne Airport and the headquarters of Calvary Chapel--Costa Mesa are all within a short drive from the property. The property consists of a single building which has a one-story, 3 BDR/1.75 BA unit in the front and three 2 BDR units in the two-story rear portion of the bulding. All units have individual water heaters and private yards or balconies. The building was constructed in 1968. There are four individual garage spaces plus five uncovered tandem spaces, all accessed from a rear alley. The 3 BDR units in this complex were designed to be desirable for owner occupancy and are very spacious, with a pitched roof and fireplace. As a result, these buildings are rarely offered for sale. There were no reported sales in this development in 2018 and the only reporsted 2019 sale was of two adjacent fourplexes which were master-leased to one party.The property is fully-occupied with month-to-month tenancies. The lease rates are significantly below market. The property is owned by an estate that is liquidating its portfolio of properties.
    Exterior Features

    Architectural Style Ranch Carport Spaces 0.00 Construction Materials StuccoWood Siding Exterior Features Satellite Dish Fence YN Yes Fencing Wood Foundation Details Slab Garage Spaces 4.00 Lot Features 6-10 Units/AcreCorner LotFront YardGardenLandscapedLawnLevel With StreetLot 6500-9999Rectangular LotLevelNear Public TransitYard Lot Size Source Assessor Lot Size Units Square Feet Parking Features AssignedDirect Garage AccessAsphaltPavedGarageGarage Faces RearGarage - Single DoorOff StreetParking SpacePrivateSide By SideTandem UncoveredUncovered Parking Total 9.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Shingle View Neighborhood View YN Yes

    Interior Features

    Appliances Electric OvenElectric RangeFree-Standing RangeDisposalGas & Electric RangeGas OvenGas RangeGas Water HeaterWater Heater Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 1000 Average2 Bed Area Units Square Feet Average3 Bed Area 1400 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features See Remarks Fireplace YN Yes Flooring CarpetTileVinyl Heating Wall FurnaceNatural Gas Heating YN Yes Interior Features BalconyCeiling Fan(S)Formica Counters Laundry Features In GarageIndividual Room Levels Two Room Type KitchenLaundry Window Features Screens

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features BikingCurbsSidewalksStreet LightsSuburban Country Us Electric 220 Volts in LaundryElectricity - On Property Electric Expense 0.00 Elevation Units Feet Gardener Expense 600.00 Gross Income 75900.00 Gross Operating Income 74761.00 Gross Scheduled Income 75900.00 Insurance Expense 2400.00 Land Lease YN No Laundry YN Yes Maintenance Expense 3200.00 Maintenance Percent 4.20 Net Operating Income 46259.00 New Construction YN No New Taxes Expense 16512.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 4 Number Wall AC 0 Number With Carpet 4 Number With Dishwasher 0 Number With Disposal 4 Number With Drapes 4 Number With Patio 2 Number With Range 4 Number With Refrigerator 4 Operating Expense 28502.00 Other Expense 1000.00 Other Expense Description Reserves Professional Management Expense 2990.00 Property Condition Updated/Remodeled Property Sub Type Quadruplex Rent Control YN No Security Features Smoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Subdivision Name Other Covington-Style Fourplexes Tenant Pays Cable TvElectricityGas Total Actual Rent 6325.00 Total Expenses 28502.00 Trash Expense 600.00 Utilities Electricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance 1139 Vacancy Allowance Rate 1.50 Water Sewer Expense 1200.00 Water Source Public Year Built Source Public Records

    Listing provided courtesy of Carl Reinhart of Carl Reinhart, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-22T19:32:20.687. 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 deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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