Seller's Agent in 2022
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
2 in this area
145 Total Sales
1407 N Bush St Santa Ana, CA 92701
French Court Neighborhood
4
Beds
4
Baths
36,394
Sq Ft
0.46
Acres
About This Home
As of February 2022The Bush Court Apartments, an exceptionally rare, newer construction 52-unit building, located in the heart of Santa Ana. Built in 1987, this investment opportunity is an ideal mix of 1 & 2 bedroom units. The Bush Court Apartments is comprised of (36) one bedroom/one bathroom units, (2) one bedroom/one bathroom + den units, and (14) two bedroom/two bathroom units. The building is generously parked with (88) community garage spaces with secured access. The majority of units have been renovated featuring remodeled kitchens, granite countertop, tile backsplashes, microwaves, porcelain tile flooring, etc., while exterior upgrades boast newer roofs, exterior paint, security cameras, security doors, solar panels, and LED Lighting. Tenants enjoy on-site laundry, patios/balconies, A/C and secured access and secured, covered parking.
This investment opportunity offers an investor substantial room to improve income in a non-rent control environment with a predictably low expense ratio. The installation of the solar panel system, LED lighting and the already implemented utility reimbursement program simplifies management and creates great value for a new investor. Additional income from laundry and extra available parking further enhances the return The Bush Court Apartments is an exceptional investment opportunity to add to any already established investment portfolio.
Last Agent to Sell the Property
Morgan Skenderian License #01273871 Listed on: 10/02/2018
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1987
Lot Details
- 0.46 Acre Lot
- No Common Walls
Parking
- 88 Car Garage
Home Design
- 36,394 Sq Ft Home
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Bathrooms
Additional Features
- Laundry Room
- Exterior Lighting
Listing and Financial Details
- Tax Lot 4
- Tax Tract Number 300
- Assessor Parcel Number 39813333
Community Details
Building Details
- 53 Separate Electric Meters
- 53 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $8,567
- Maintenance Expense $50,884
- Other Expense $44,304
- Professional Management Expense $33,663
- New Taxes Expense $152,390
- Operating Expense $353,802
- Gross Income $18,600
- Net Operating Income $487,770
Additional Features
- 52 Units
- Laundry Facilities
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/03/2022 02/03/22 | Sold | $14,350,000 | -1.0% | $394 / Sq Ft |
| 09/06/2021 09/06/21 | Pending | -- | -- | -- |
| 04/21/2021 04/21/21 | For Sale | $14,500,000 | +18.3% | $398 / Sq Ft |
| 08/26/2019 08/26/19 | Sold | $12,260,000 | -1.9% | $337 / Sq Ft |
| 06/07/2019 06/07/19 | Pending | -- | -- | -- |
| 05/29/2019 05/29/19 | Price Changed | $12,500,000 | -1.2% | $343 / Sq Ft |
| 03/20/2019 03/20/19 | For Sale | $12,650,000 | +3.3% | $348 / Sq Ft |
| 02/11/2019 02/11/19 | Sold | $12,250,000 | -2.4% | $337 / Sq Ft |
| 11/06/2018 11/06/18 | Pending | -- | -- | -- |
| 10/02/2018 10/02/18 | For Sale | $12,550,000 | -- | $345 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Tyler Leeson
-
Matthew Hoyt
Buyer's Agent in 2022
Matthew Hoyt
Hoyt Real Estate, Inc.
(949) 283-1696
1 in this area
40 Total Sales
-
Rick Applebaum
Seller's Agent in 2019
Rick Applebaum
Morgan Skenderian
(949) 251-8800
64 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW18239583
APN: 398-133-33
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