A PROPERTY WITH UNDER UTILIZED EQUITY
1001 West Stevens Avenue, #412 Santa Ana
2 bed, 2 bath – 875 sq. ft. condo
Purchased as an REO on 9/30/2009 for cash
Was rented for $1,650 per month
Monthly expenses of $744
Cash flowed $906 per month
Sold for $330,000 on 4/24/2020
1031 to 860 North Stonewood Street
(3) 2 bed, (1) 3 bed, 4-plex, Covington style,
10,454 lot
Purchased 5/27/20 for $1,367,500 with
$957,250 loan, 4% interest, $80,000 new
money, closed 5/27/2020; $0 initial repairs
Currently rented for $7,450 per month
Monthly Expenses of $6,660
Current cash flow of $790 per month ($1,065
after 1st year)
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