Income-producing property with three separate living units in one of North Orange County’s most convenient and high-demand rental locations. The sellers have upgraded the property by replacing the entire underground piping system and installing a convenient Tesla charging station for modern electric vehicle needs.This versatile property offers strong rental demand, excellent house-hack potential, and long-term appreciation in a prime Buena Park location near major attractions, employment centers, and universities. Property configuration: • Unit 1 (Main House): 3 Bedroom / 1 Bathroom (~829 SF) with private backyard – ideal owner unit or premium rental • Unit 2: 2 Bedroom / 1 Bathroom (~669 SF ADU) – tenant occupied • Unit 3: 1 Bedroom / 1 Bathroom (~360 SF permitted garage conversion completed in 2022) – currently rented Total living space across all units is approximately 1,858 square feet (buyer to verify). Property features include: • Three separate living units providing strong rental flexibility • Separate entrances and private living areas for each unit • Updated interiors and renovated bathrooms with upgraded plumbing • In-unit washer and dryer setups • Newer appliances • Additional backyard storage structure and outdoor spaces that enhance tenant appeal Estimated market rents (buyer to verify): • 3 Bedroom Unit: approximately $3,300 – $3,600/month • 2 Bedroom Unit: approximately $2,200 – $2,400/month • 1 Bedroom Unit: approximately $1,700 – $1,900/month Estimated potential gross rental income: approximately $7,200 – $7,900 per month depending on market rents and management. Location highlights: • Walking distance to Knott’s Berry Farm • Approximately 10 minutes to Disneyland Resort • Close to Cal State Fullerton, Cypress College, and major employment hubs • Easy freeway access across Orange County and Los Angeles • Near Cerritos Mall, restaurants, shopping, and entertainment • Approximately 30 minutes to Orange County beaches This property is ideal for owner-occupants seeking rental income, investors targeting long-term appreciation in Orange County, or buyers looking for a house-hack opportunity where rental income from additional units can significantly offset the mortgage payment. A rare opportunity to acquire a flexible income property combining location, rental demand, and long-term upside in one of North Orange County’s most desirable neighborhood.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
