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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
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
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
ADDITIONAL PHOTOS
248 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
ADJACENT LOT LOCATED AT 230 S. OAK STREET
248 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
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
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
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
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
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
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
LOCATION MAP
248 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
AERIAL MAP
248 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
RETAILER MAP
248 S. OAK STREET
Orange, CA 92866