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 Listing Agent: Barry Mycorn (rlmequities1@gmail.com) from Listing Office: R.l.M. Equities, Inc..
Listing sold by Randall Mycorn from R.l.M. Equities, Inc.
Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.