(503 N Daisy APN 007-052-60 & 507 N Daisy APN 007-052-59) were sold together for a total of $1,725,000. Opportunity to own 2019 Construction residential income property with a 3-year lease renewal in place producing $137,837 in cash flow each year. These two side-by-side houses are being sold as a grouping, each with 4 bedrooms and 3 bathrooms, were built to suit the tenant, which is a state-licensed residential substance use disorder treatment center. The tenant has been located in the houses for 3 years, and just signed a renewal for an additional 3 years starting on 9/1/2023. Tenant pays all expenses and repairs, with the exception of Property Taxes, Insurance, and repairs associated with the foundation, exterior walls, or roof of the property.
This listing is truly a passive income owner’s dream, with minimal management needs, and a true 7.7% in place cap rate (10.7x GRM - one of the most attractively priced residential income properties on the market in Orange County! Positive leverage on day 1 will boost cash on cash returns above 7.7%, and 3 years of lease term remaining!
DISTURBING THE TENANTS WITHOUT PERMISSION IS PROHIBITED BY LAW, PURSUANT TO CALIFORNIA DEPARTMENT OF HEALTH REGULATIONS. Tours can be provided upon receipt of an LOI or Offer, and proof of funds. Full property inspection can be conducted after execution of contract.
Also inquire about a nearby property with similar financial performance that can be acquired with this listing as a portfolio.
Sold for $1,725,000
Listed by: Coldwell Banker Realty • Brian Wollner • Contact: 949-444-3233
Bought with: Coldwell Banker Realty
$1,725,000
507 N Daisy Ave, Santa Ana, CA 92703
8beds
6baths
2,770sqft
Multi Family
Built in 2019
-- sqft lot
$1,093,500 Zestimate®
$623/sqft
$3,098 Estimated rent
Home value
$1,093,500
$1.01M - $1.20M
$3,098/mo
Zestimate® history
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$10,893/mo
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Zillow last checked:
Listing updated:
Listed by:
Brian Wollner DRE #01889264 949-444-3233,
Coldwell Banker Realty
Bought with:
Jack Harriman, DRE #01204794
Coldwell Banker Realty
Source: CRMLS,MLS#: OC23068081
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 6
Rooms
- Room types: Bedroom, Family Room, Kitchen
Bedroom
- Features: All Bedrooms Down
Heating
- Central
Cooling
- Ductless
Appliances
- Included: Dishwasher, Gas Oven, Gas Range, Microwave, Refrigerator
- Laundry: In Kitchen
Features
- Open Floorplan, Stone Counters, Recessed Lighting, All Bedrooms Down
- Flooring: Laminate, Tile
- Doors: Sliding Doors
- Windows: Double Pane Windows
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 2,770
- Total interior livable area: 2,770 sqft
Property
Parking
- Total spaces: 12
- Parking features: Concrete, Door-Multi, Driveway Level, Driveway, Garage
- Garage spaces: 4
- Uncovered spaces: 8
Features
- Levels: One
- Stories: 1
- Entry location: 1
- Exterior features: Lighting
- Pool features: None
- Spa features: None
- Has view: Yes
- View description: None
Lot
- Size: 10,000 Square Feet
- Features: Corner Lot, Front Yard, Yard
Details
- Additional structures: Second Garage
- Additional parcels included: 00705260
- Parcel number: 00705259
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Roof: Composition,Shingle
Condition
- Updated/Remodeled,Turnkey
- New construction: No
- Year built: 2019
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Sewer Connected
Community & HOA
Community
- Features: Sidewalks
- Security: Carbon Monoxide Detector(s), Smoke Detector(s)
- Subdivision: ,Other
Location
- Region: Santa Ana
Financial & listing details
- Price per square foot: $623/sqft
- Tax assessed value: $879,750
- Annual tax amount: $10,250
- Date on market: 4/23/2023
- Cumulative days on market: 92 days
- Listing terms: Cash to New Loan,1031 Exchange
- Total actual rent: 2
- Tenant pays: All Utilities, Exterior Maintenance, Grounds Care, Janitorial Service, Management
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 8/18/2023 | Sold | $1,725,000$623/sqft |
Source:  CRMLS #OC23068081 Report a problem | ||
| 7/24/2023 | Contingent | $1,725,000$623/sqft |
Source: CRMLS #OC23068081 Report a problem | ||
| 6/1/2023 | Price change | $1,725,000-4.2%$623/sqft |
Source: CRMLS #OC23068081 Report a problem | ||
| 4/23/2023 | Listed for sale | $1,800,000+206.4%$650/sqft |
Source: CRMLS #OC23068081 Report a problem | ||
| 4/1/2020 | Sold | $587,500-6.6%$212/sqft |
Source:  CRMLS #PW19229630 Report a problem | ||
| 1/3/2020 | Pending sale | $629,000$227/sqft |
Source: California Team Realty #PW19229630 Report a problem | ||
| 9/27/2019 | Listed for sale | $629,000$227/sqft |
Source: California Team Realty #PW19229630 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $10,250 +2.6% | $879,750 +2% |
| 2024 | $9,986 +38.2% | $862,500 +39.5% |
| 2023 | $7,225 +1% | $618,077 +2% |
| 2022 | $7,153 +2.4% | $605,958 +2% |
| 2021 | $6,984 +201.4% | $594,077 +191.2% |
| 2020 | $2,317 | $204,000 |
Find assessor info on the county website
Neighborhood: Artesia Pilar
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Nearby schools
GreatSchools rating
- 5/10Fremont Elementary SchoolGrades: K-5Distance: 0.3 mi
- 2/10Lydia Romero-Cruz Elementary SchoolGrades: K-8Distance: 0.6 mi
- 4/10Valley High SchoolGrades: 9-12Distance: 1.8 mi
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Estimated market value
$1,093,500
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Estimated market value
$1,093,500
- California
- Orange County
- Santa Ana
- 92703
- Artesia Pilar
- 507 N Daisy Ave
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