Investment Property in OC under 600K

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eyephone said:
Santa Ana and your neighbors are cashing out.
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I don't quite share your view on Santa Ana, especially for rental property investment purposes.
Usually appreciation play tend to be in nicer areas like Irvine. Lesser areas like Santa Ana is for chasing cap rates.
But Santa Ana's appreciation has really benefited by being right next to Irvine.
You get both excellent cap rate and appreciation.

420 Jeanette is cashing out with more than 20% appreciation in 3 years. That's pretty good even before you factor in the rental income.
 
Kenkoko said:
eyephone said:
$3100 for that! Good for you.
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Our unit is slightly bigger than this one, but the going rate for this unit is around $2850 - $3000.
This development is right next to CHOC hospital and St, Joseph Hospital. A lot of the renter are working professionals there.
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Isn't City Place one of those commercial/residential combo places were people live upstairs from their businesses?
 
Kenkoko said:
eyephone said:
Santa Ana and your neighbors are cashing out.
Click to expand...

I don't quite share your view on Santa Ana, especially for rental property investment purposes.
Usually appreciation play tend to be in nicer areas like Irvine. Lesser areas like Santa Ana is for chasing cap rates.
But Santa Ana's appreciation has really benefited by being right next to Irvine.
You get both excellent cap rate and appreciation.

420 Jeanette is cashing out with more than 20% appreciation in 3 years. That's pretty good even before you factor in the rental income.
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It?s okay. We have difference of opinion.

I always liked Ryu in Street Fighter not Ken.  ;)
 
Happiness said:
Isn't City Place one of those commercial/residential combo places were people live upstairs from their businesses?
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Yes, but only the exterior street facing units are mixed use commercial/residential units. All the interior units are residential only. I would guess only 1/4 of the total units are mixed use units.
 
Kenkoko said:
Kings said:
the amount of natural light is great on this unit.

too bad the original owners who bought in 2008 took a loss on the sale in 2015
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Yeah, there are quite a few people who bought at insane prices back then. This guy bought at 660K in 2008  :o
https://www.redfin.com/CA/Santa-Ana/189-E-City-Pl-Dr-92705/home/17467340#property-history
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ouch.  and this one is only a 1 bed.  at the original sale price, the buyer essentially paid $82k for the luxury of having a 200 sf office in their unit.  i'm sure 10 years ago you could find similar office space in santa ana for $400-600/mo...not the best roi
 
movingbackeast said:
What is up with the dog pics in the listing (33 & 35)? I like dogs and have a dog but don't need to see one in a listing... 35 is essentially the same picture as 34 but with the dog on the pretty coverlet. What the heck?
https://www.redfin.com/CA/Anaheim/4354-E-Addington-Dr-92807/home/4312972
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OMFG, that house literally backs up to the 91 fwy.  Plus the traffic on that stretch of the 91 is horrible. 

https://www.redfin.com/CA/Anaheim/5243-Woodwind-Ln-92807/home/4232231 
This house is slightly bigger, on a bigger lot, slightly cheaper, although inside is not as nice.  However the location is infinitely better.  I wonder if the buyer of the previous home has regrets.  I would. 
 
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