208 Hoover Avenue, Orange

$6,390,000

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3

Beds

2

Baths

0.42

Acres

About 208 Hoover Avenue

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.

Features of 208 Hoover Avenue

MLS® # OC24071998
Price $6,390,000
Bedrooms 3
Bathrooms 2.00
Acres 0.42
Year Built 1961
Type Residential Income
Sub-Type Apartment
Status Active

Community Information

Address 208 Hoover Avenue
Area OTO - Old Towne Orange
City Orange
County Orange
Zip Code 92867

Amenities

Parking Spaces 20
# of Garages 20
Is Waterfront No
Has Pool No
Pool None

Interior

Has Basement No
Fireplace No
# of Stories 2
Stories Two

Exterior

Lot Description 16-20 Units/Acre

Additional Information

Date Listed April 11th, 2024
Days on Market 62
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentJason Kirklen
OfficeKirklen Investment Group

Listing Map

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