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    1/2 BATHS
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Listing Details

Status
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On Site
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On Market
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MLS #
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Neighborhood
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Type
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Built
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School Ratings & Info

Description

$1,000,000 PRICE REDUCTION. A rare opportunity to acquire a medium sized, "permit ready entitled multi-residential development opportunity. The proposed 24 unit apartment complex will have a unit mix of (7) 2 bedroom/2 bath units, (7) 2 bedroom/2.5 bath units, (6) 3 bedroom/2.5 bath units, and (4) 3 bedroom/3.5 bath units. All units will be townhouse style with attached garages and direct access from the garage into the units. The property is located within minutes of the 405 and 22 Freeways and is within walking distance to both Finely Elementary and Johnson Middle Schools. The development has been approved by the city council of Westminster and includes four affordable units under the California Density Bonus program. The existing property is comprised of 3 adjacent parcels totaling 44,643 sq.ft. Currently, there is one 3 bedroom home, a 2 bedroom home, a 1 bedroom unit and a studio unit. Monthly income is $7,060 and all tenants are month to month.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T00:28:33.337. 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 deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
www.homesinthehighdesert.com/homes/116808365
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13800 Milton Avenue Westminster, CA 92683

  • Price: $4,850,000
  • Status: Active
  • ID#: PW21095883
0
Beds
0
Baths
0
½ Baths
1.01
Acres
2021
Built
Neighborhood:
Other (Othr)
County:
Orange
Area:
59 - Westminster North of 405 & Westminster
Property Description
$1,000,000 PRICE REDUCTION. A rare opportunity to acquire a medium sized, "permit ready entitled multi-residential development opportunity. The proposed 24 unit apartment complex will have a unit mix of (7) 2 bedroom/2 bath units, (7) 2 bedroom/2.5 bath units, (6) 3 bedroom/2.5 bath units, and (4) 3 bedroom/3.5 bath units. All units will be townhouse style with attached garages and direct access from the garage into the units. The property is located within minutes of the 405 and 22 Freeways and is within walking distance to both Finely Elementary and Johnson Middle Schools. The development has been approved by the city council of Westminster and includes four affordable units under the California Density Bonus program. The existing property is comprised of 3 adjacent parcels totaling 44,643 sq.ft. Currently, there is one 3 bedroom home, a 2 bedroom home, a 1 bedroom unit and a studio unit. Monthly income is $7,060 and all tenants are month to month.
Exterior Features

Lot Features 21-25 Units/AcreLot Over 40000 Sqft Number Of Separate Electric Meters 24 Parking Total 45 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Common Interest None Community Features Curbs Garage YN Yes Gross Income 808500 Gross Scheduled Income 808500 Insurance Expense 0 Land Lease YN No Laundry Features None Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 546926 New Construction YN No New Taxes Expense 0 Number Of Separate Gas Meters 24 Number Of Separate Water Meters 24 Operating Expense 237319 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Source Public

Listing provided courtesy of Grant Hahn of Morgan Skenderian


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T00:28:33.337. 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 deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
 
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RE/MAX Freedom
12180 Ridgecrest Rd. Building E Ste. 522
Victorville CA, 92395