The Tustin Triplex Apartments offer a great opportunity to buy a large apartment building in a historically high occupancy rental neighborhood. The building is over 3,100 square feet and boasts a great unit mix of 1 (3+2), 1 (2+2) and 1 (2+1) apartments, which are all occupied by long term tenants (avg. length of tenancy is over 10 years). A savvy investor can take advantage of the substantial upside in rents which are approximately 14% under rents for comparable units on the street. An onsite laundry room with owner owned machines provides additional monthly income.
The Tustin Triplex Apartments have a pitched composition shingle roof, newer exterior paint and well maintained landscaping. Operating costs are minimal for the building, as the apartments are separately metered for gas and electric. There are 4 enclosed garages for tenant parking, as well as open parking behind the building. The apartments are located within close walking distance to schools, numerous shopping and employment venues including Newport Specialty Hospital. Additionally freeway access to the 5 and 55 freeways is minutes away for commuting tenants.
