208 N Wright Street, Santa Ana, California 92701, Santa Ana, - bed, bath
ACTIVE$1,580,000
208 N Wright Street, Santa Ana, California 92701
0Bed
0Bath
4,200Sqft
10,742Lot
Year Built
1979
Close
-
List price
$1.58M
Original List price
$1.6M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
TR25026880
Home ConditionFair
Features
Patio
View-
About this home
Nice 3-ple in great condition, well taken care of complex. The front house is a freestanding 1500 sqft 3 beds 2 baths home with a front and back yard. At the back of the lot there are two beds, one bath up and down apartments. The units were just completely re-roofed. There are long time tenants occupying now. Units are very easy to the rent, the rents are low and there is an opportunity to increase. It's separately metered for gas and electric. Close to schools, shopping center, public transportation and other amenities.
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (9 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 4,200 | 1,912 | 80% |
| Lot Size | 10,742 | 6,759 | 90% |
| Price | $1.58M | $975K | 90% |
| Price per square foot | $376 | $497 | 30% |
| Built year | 1979 | 9620976 | 100% |
| HOA | |||
| Days on market | 273 | 218 | 60% |
Condition Rating
Fair
The property was built in 1979. The exterior images show some wear and tear. The description mentions it's in great condition and well taken care of, with a recently re-roofed structure. However, without interior images, it's difficult to assess the kitchen and bathroom conditions, but given the age and exterior appearance, a 'Fair' rating is appropriate, suggesting it's aged but maintained with occasional updates.
Pros & Cons
Pros
Income Potential: Triplex property offers immediate income generation through existing tenants.
Rental Upside: Current rents are below market value, presenting a significant opportunity to increase rental income.
Separate Metering: Units are separately metered for gas and electric, simplifying utility management and tenant billing.
Recent Improvement: The property has a newly re-roofed structure, reducing immediate maintenance concerns.
Desirable Location: Close proximity to schools, shopping centers, public transportation, and other amenities enhances tenant appeal.
Cons
Tenant Occupied: Property is currently tenant-occupied, potentially limiting immediate access for renovations or owner occupancy.
Age of Property: Built in 1979, the property may require updates to meet modern tenant expectations and building codes.
Limited Information: Lack of interior images makes it difficult to fully assess the condition of the units and potential renovation needs.