Minutes from South Coast Plaza, this very desirable 4-unit apartment building of all two bedroom one and a half bath townhouse units. Featuring private patios, individual metering for gas and electricity, individual water heaters, four garages, laundry room and two open parking spaces an investor can purchase 2809 S Baker in combination with 2701, 2709, 2717, 2725, and 2729 S Baker Street. Directly across the street from Saddleback High School the location is minutes from the 405 Freeway, South Coast Plaza, Segerstrom Center for the Arts and Cal Thornton Park. The South Coast Metro area is one of the most dynamic in Southern California.
With current rents approximately half of market, additional revenue upside exists through implementation of a RUBS program for water/sewer, garage rent, and/or adding at least one ADU unit, which could add as much as $33,000 a year to the income. When a unit turns over a renovation can add substantial rental income. Expenses are an average of all 24 units over a 12-month period of time. Unit 2809 # A is current onsite manager for all 24 units. Rent is calculated at $1,415/month.
This opportunity to acquire up to six 4-unit assets, covering an entire city block, in a low velocity market from long term owners is unique.