208 Hoover Avenue

Orange, CA 92867

$6,390,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $530 / sqft

1961

calendar_month Built

Property Description

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 property 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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 208 Hoover Avenue
City Orange
State CA
Zip 92867
County Orange
Listing Agent Jason Kirklen DRE#01939655
Courtesy Of Kirklen Investment Group
MLS OC24071998
List Price $6,390,000
Status Active
Type Residential Income
Subtype Apartment
Structure Size N/A
Lot Size 18,296
Year Built 1961
DOM 47

Exterior Information

Maps

Listing information courtesy of: Jason Kirklen, Kirklen Investment Group . *Based on information from the Association of REALTORS/Multiple Listing as of May 28th, 2024 at 10:45 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.