202 & 208 W. Hoover Avenue

Orange is a city located in Orange County, California. It is approximately 3 miles north of the county seat, Santa Ana. It was founded in 1869 and incorporated on April 6, 1888. Orange is unusual in this region because many of the homes in its Old Town District were built before 1920. While many other cities in the region demolished such houses in the 1960s, Orange decided to preserve them. The Historic District is the largest National Register District in California. The City of Orange is well known for the annual Orange International Street fair, an event that draws thousands to the area to celebrate cultures from around the world through food and entertainment. The small city of Villa Park is surrounded by the city of Orange. The population was 138,669 as of 2019.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.