283 Avocado Street,
Home For Sale
Legitimate turnkey multifamily investment property offering a range of one-, two-, and three-bedroom loft-style floor plans. Substantial investment was made in 2023 and 2024, with over $1.7M in interior and exterior capital improvements. 100% of the interiors are fully renovated, including all new appliances, cabinets/counters, new electrical panels, flooring, painting and drywall, and all new windows and doors. Common area improvements include the roofs, painting, termite & pest mitigation, and tenting of the entire structure, exterior wood, decking, all new stairs and railings, all new asphalt, hardscape/softscape, mailboxes, plumbing, house electrical panels, and garage doors. ABOVE ALL, the debt component sets this project apart from nearly all other investments within the marketplace. Available to assume is a private note with a 50% LTV and interest-only payments for nine years, starting at 3.5%, with a cap at 5.0%, resulting in a blended interest rate of 4.61% over the term. This equates to an initial cash-on-cash return of over 4% with a down payment of $6,000,000no appraisal required, no points for the loan assumption, COE in 30 days or less.
Property Details
Additional Information
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- County:
- Orange
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- Zip:
- 92627
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- MLS® #:
- OC24013316
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- Bedrooms:
- 6
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- Lot Size:
- 0.85
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- Neighborhood:
- OC - COSTA MESA (92627)
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Listing information last updated on April 27th, 2024 at 6:30am PDT.