The Durant Towers Apartments is a 16-unit apartment building located in the Opportunity Zone of Santa Ana, CA. Built in 1984; the property offers a simple unit mix of all large studio units with every unit featuring a spacious balcony. The property has two on-site laundry facilities, security cameras and direct access to a gated parking garage which includes 18 parking spaces. Each unit features wood floors, tile kitchen floors, wall a/c units and granite countertops in some units. The building is individually metered for gas and electricity. The Durant Towers offers an investor the opportunity to purchase a well-located asset in an Opportunity Zone with a 5% cap rate on market rents. The Durant Towers is conveniently situated in a mostly residential neighborhood with access to Santa Ana College, Downtown Santa Ana, local parks, retail shopping centers and major transportation routes. Tenants can walk to Downtown Santa Ana and enjoy historical attractions, newly renovated modern restaurants and shopping. The City of Santa Ana is committed to continue its renovations and attract residents looking to live in a true downtown setting. Additionally, being located within an Opportunity Zone provides an investor with possible tax benefits that are not available in other areas.
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