$6,390,000
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208 Hoover Avenue Orange, CA 92867
Apartment
Residence
Beds
Baths
...
Bed/Bath
12,054
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
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 p...roperty 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.
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MLS#
OC24071998
Property Type
Apartment
Year Built
1961
Square Feet
12,054
sq. ft
Lot Size
0.42
Stories
2.0
Sewer
Public Sewer
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