1917 W Myrtle St
- High Demand Rental Area: Centrally located in Santa Ana with strong tenant demand
- 100% Two-Bedroom Floorplans at Approx. 750 SF
- $143,172 Annual In-Place Rental Income
- Appox. 21% Rental Upside
- Ample Parking: Total of 6 Garage Parking Spaces
- Shared Courtyard, Private Patios (Select Units) & In-Unit Washer/Dryer
Property Description
Kirklen Investment Group is pleased to present 1917 West Myrtle Street, a six-unit multifamily investment opportunity located in the highly desirable Casa Bonita neighborhood of Santa Ana, California. The property consists entirely of spacious two-bedroom units and benefits from a comprehensive renovation program completed in 2021, positioning the asset as a low-maintenance acquisition with modernized infrastructure and interiors. The 2021 capital improvement program included full electrical upgrades with new main and sub-panels, along with new copper plumbing throughout the property. Unit interiors feature luxury vinyl plank flooring, renovated bathrooms with tub-to-ceiling tile surrounds, glass niches, vessel sinks, updated fixtures, and shower valves. Kitchens were upgraded with quartz countertops, barn-style sinks, cabinetry, garbage disposals, and a full appliance package. Additional improvements include windows, interior and security doors, upgraded hardware throughout, electronic garage motors with digital keypads, new perimeter fencing, and private patios for select ground-floor units. The property currently generates $143,172 in gross annual income ($11,931 per month), representing a strong 11.52 Gross Income Multiplier (GIM) with meaningful rental upside through rent re-positioning to market. With the majority of capital improvements already completed, investors are well-positioned to focus on revenue growth rather than future capital expenditures, making this an attractive light value-add opportunity. Ideally located less than 2.5 miles from Downtown Santa Ana and the 4th Street Market, 1917 West Myrtle Street offers tenants convenient access to major employment centers, retail, dining, and entertainment. Nearby amenities include Santa Ana College, MainPlace Mall, and the OC Streetcar line, while immediate access to the I-5 and CA-22 freeways provides strong regional connectivity throughout Orange and Los Angeles Counties. With modernized unit interiors, durable in-place income, and a clear path to income growth, 1917 West Myrtle Street presents investors with a compelling opportunity to acquire a well-maintained, post-renovation multifamily asset in one of Orange County’s most supply constrained rental submarkets.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,650,000 |
| No. of Units: | 6 |
| Year Built: | 1957 |
| Lot Size: | 0.16 Acres |
| Opportunity Zone: | No |
| Price per unit: | $275,000 |
| Property Website | Click Here |
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