Midway City
14871 Van Buren St. Street
Midway City, California, 92655 United States

Pacific Sotheby's International Realty
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14871 Van Buren St. Street

The Van Buren Apartments is a 4+1 Unit apartment complex built in 1988 in the heart of Midway City. This unique opportunity affords a prospective buyer the ability to obtain a 2-4 unit residential loan, and enjoy the benefits of a 5th non-conforming unit. The subject lot has 9 total parking spaced including 4 garages. The Asset's interiors and exterior have been extensively renovated over the past year. All 5 units have been turned within the last 2 years, including a newly rehabilitated 2 bedroom 2.5 bath town-home style unit. Other rehabilitation areas include: exterior paint, landscaping, garage/storage doors, carport, and a brand new roof. All aspects of the building are in excellent condition, this is a turnkey asset. The Van Buren Apartments offer an astute investor the opportunity to purchase an income producing property with strong rents in a unique growing market. The property has only sold once since its development. The complex is located in a quiet residential neighborhood just off of Bolsa and Beach Blvd. The area has a handful of brand new developments, including a block-long affirmed housing complex built in 2020. With attractive Interest Only financing, a new investor can achieve a 6%+ cash on cash return at full list price.

Listing Courtesy of R.l.M. Equities, Inc.
 
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Amenities & Features

  • Listing Details
    • Property ID
      NP21069473
    • MLS#
      NP21069473
    • Property type
      Residential Income
    • Courtesy Of
      Listing Courtesy of R.l.M. Equities, Inc.
    • Status
      Available
    • Listing Price
      $1,850,000
    • Subdivision
      Not Applicable-65
    • County
      Orange County
    • School District
      Westminster
  • Utilities & Building
    • Year Built
      1988
    • Lot Size Unit
      Acre(s)
    • Lot Size
      0.18
    • Parking
      Garage