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Property Highlights

EXCLUSIVE LISTING | MULTIFAMILY OPPORTUNITY

Single Story 4-plex and Adjacent Lot For Sale

Separate Parcels (10,972 and 9,287 SF)

Mix of 1, 2, 3 and Studio Apartments

3 of 4 Units Delivered Vacant

R-3 (Mul�family) Lot is Ready to Build

OAK STREET 4-PLEX

4 UNITS248 S. Oak Street, Orange, CA 92866

Specializing in the Sale of Mul�-family Proper�es

4590 MacArthur Boulevard, Suite 260 Newport Beach, CA 92660

(0) 949.251.8800 • (f) 949.251.8899 • morganskenderian.com




SUBJECT PHOTOS

248 S. OAK STREET

Orange, CA 92866




ADDITIONAL PHOTOS

248 S. OAK STREET

Orange, CA 92866




ADJACENT LOT LOCATED AT 230 S. OAK STREET

248 S. OAK STREET

Orange, CA 92866




Rare value add opportunity in the city of Orange to acquire a 75% vacant 4-plex and theadjacent lot (zoned R-3 for mul�family) that is ready to build. 248 S. Oak Street is a single story4-plex which is currently configured as (1) 3BD/1.75BA, (1) 2BD/1BA, (1) 1BD/1BA and (1)Studio/1BA. The 3 bedroom and studio can easily be converted back into their originalconfigura�on of 1 and 2 bedroom apartments. The property allows for an investor to add valueas three units are vacant and can be rented at market level rents once repairs are completed. Allapartments feature spacious layouts which include a kitchen nook area and sliding glass doors inthe living rooms that open to pa�os. The building structure for 248 S. Oak Street is 3,528 andthe rectangular shaped lot measures 10,972 square feet. The subject property is located justsouth of Chapman Ave. and is only 1.2 miles from Old Towne Orange.230 S. Oak (parcel number 390-491-14) is a rectangular shaped lot which measures 9,287square feet and is adjacent to the lot for 248 S. Oak Street. The lot should be ready to build asthere is a driveway that has already been poured and an empty pool (fenced off for safetyreasons) which sits at the back of the property. Per the City of Orange the lot is zoned R-3(A) formul�family single story. 230 S. Oak Street is listed for sale for $450,000 and can be purchasedtogether with 248 S. Oak Street or separately.

PROPERTY DESCRIPTION

AMENITIES

Pa�os for Each UnitKitchen Nook in All ApartmentsForced Air Wall HeatersIn Unit Water HeatersSeparately Metered for Gas & ElectricGarage Parking

PROPERTY OVERVIEW

Number Of Units: 4

(1) Studio(1) 1BR/1BA(1) 2BR/1BA(1) 3BR/1.75BA

Year Built: 1960

Parcel Number: 390-491-15390-491-14 (lot)

Parking: 4 Garages & OpenParking

Exterior: Stucco & Wood

Lot Size: 10,890 SF

Net Rentable SF: 3,527 SF

U�lity Metering Individually Metered forGas & Electricity

Unit Mix:

EXECUTIVE SUMMARY

248 S. OAK STREET

Orange, CA 92866




DEMOGRAPHICS 1 Mile 2 Miles 3 Miles

Total Households: 7,883 30,741 57,836

Total Popula�on: 23,270 96,441 188,243

Average HH Income: $81,605 $84,819 $90,660

LOCATION OVERVIEW

The city of Orange was incorporated on April 6, 1888 and has apopula�on of 139,419 with approximately 39% of the popula�onoccupies rental units. Old Towne Orange is a one square-milearound the original plaza which contains many of the originalstructures built in the period a�er the city's incorpora�on. Today itis a vibrant commercial district, containing Orange County's oldestopera�ng bank and along with a host of trending restaurants andbreweries a�rac�ng customers from all over Southern California.The Outlets at Orange, an outside outlet mall is home tonumerous restaurants, a 30-Theater cinema and major shoppingand entertainment. This has become a large employment basealong with the Stadium Promenade and Village at Orange, twoother major shopping and retail centers. Other major employers inthe city of Orange include UCI Medical Center, St. JosephHospital, Orange County Transporta�on, and the Children’sHospital of Orange. The city features top of the line highereduca�on with San�ago Canyon Community College andChapman University and Law School. The combina�on ofemployment opportuni�es along with higher educa�on have andwill con�nue to make the city of Orange a sought a�er locale for awide variety of the Southern California demographic.

FINANCIAL OVERVIEW

Conven�onal residen�al financing is available for 248 S. OakStreet, but the seller prefers cash offers so both parcels can besold concurrently.

PLEASE DO NOT DISTURB TENANTS

PROPERTY DESCRIPTION

248 S. OAK STREET

Orange, CA 92866




Mul�-Residen�al Informa�onProperty Name No. Units Address City StateOak Street 4-plex 4 248 S. Oak Street Orange CA

Price Cost/Unit GRM: Current Cap: Current Approx. SqFt Lot Size$1,195,000 $298,750 14.23 4.7% 3,527 10,890 SF

Down Payment Percent Down GRM: Market Cap: Market Cost/SqFt Approx. Age$298,750 25.0% 13.37 5.2% $338.81 1960

Proposed Financing1st Loan Terms Monthly Pmt New / Ex / Private$896,250 New Loan $3,962.25 New

Scheduled IncomeCurrent Rents Market Rents

No. Units No. Bdrms/Baths Approx. Sq.Ft. Mo. Rent/Unit Monthly Income Mo. Rent/Unit Monthly Income(1) Studio $1,300 $1,300 $1,300 $1,300(1) 1BR/1BA $1,750 $1,750 $1,750 $1,750(1) 2BR/1BA $1,450 $1,450 $1,900 $1,900(1) 3BR/1.75BA $2,500 $2,500 $2,500 $2,500

Monthly SGI: $7,000 $7,450Annual SGI: $84,000 $89,400

U�li�es Paid By Owner: Water & Trash

Annualized Opera�ng DataCURRENTRENTS

MARKETRENTS

Scheduled Gross Income: $84,000 $89,400

Less Vacancy Reserve: 3.0% $2,520 $2,682

Gross Opera�ng Income: $81,480 $86,718

Less Expenses: 29.7% $24,977 $24,977

Net Opera�ng Income: $56,503 $61,741

Cap Rate: 4.7% 5.2%

Gross Rent Mul�plier: 14.23 13.37

Es�mated Expenses CURRENT

Taxes: $12,521Special Assessments: $982Insurance: $1,600U�li�es: $4,400Maintenance & Repairs: $4,074Landscaping: $900Admin/Misc.: $500Total Expenses: $24,977Expenses as % of SGI: 29.7%Expenses /Unit/Yr: $6,244Expenses /SF/Yr: $7.08

FINANCIAL DETAILS

248 S. OAK STREET

Orange, CA 92866

The above informa�on has been obtained from sources we believe to be reliable, but we do not accept responsibility for its correctness

230 S. Oak Street (adjacent lot)is listed for sale at $450,000




LOCATION MAP

248 S. OAK STREET

Orange, CA 92866




AERIAL MAP

248 S. OAK STREET

Orange, CA 92866




RETAILER MAP

248 S. OAK STREET

Orange, CA 92866

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