Active
208 W Hoover Avenue
Orange CA, 92867
$6,390,000
$530.11 per sqft
Active
12,054 sqft
Condo
Built in 1961
Listed by Jason Kirklen with Kirklen Investment Group 949-942-1300
Located in the heart of the highly sought-after city of Orange, this 20-unit apartment building presents a compelling investment proposition with significant upside potential in rental income. Comprising of 16 one-bedroom, one-bathroom units, and four spacious two-bedroom, one-bathroom units, this property caters to a wide range of tenant needs. 16 One-Bedroom, One-Bathroom Units: These well-appointed units provide comfortable living spaces for singles or couples, offering modern amenities and privacy. 4 Two-Bedroom, One-Bathroom Units: Designed for families or those desiring extra space, these units are highly attractive to a broader tenant base. This property boasts ample parking for residents with 16 garage parking spaces and an additional 6 surface parking spaces. The convenience of dedicated parking enhances tenant satisfaction and retention. The building has separate meters for electricity and a master meter for gas and water, creating the perfect foundation for implementing a Ratio Utility Billing System (RUBS) program. This opens the door to an additional revenue stream and allows for a more equitable distribution of utility costs among tenants.
Situated in the thriving city of Orange, this apartment building enjoys a prime location within a highly desirable rental market. Orange is known for its vibrant community, excellent schools, and proximity to major employers, making it an attractive destination for both residents and investors alike.
OC24071998
MLSⓇ ID
April 11, 2024
Listed
April 12, 2024
Updated
Map
208 W Hoover Avenue
Orange CA, 92867
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.42 Acres
Lot Features
16-20 Units/Acre
Sewer
Public Sewer
Other Property Details
Area Name
699 - Not Defined
Garage
Yes
Garage Spaces
20
Parking Total
20
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
2%
Listing Contact: 949-942-1300
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/12/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 4/12/2024 at 7:56 PM UTC