Irvine, CA question of what to do - Need some help figuring the best option

[John Carlo Gallo]

Ok, so this is a property that a family member owns and I am trying to help them make the best decision.  

They bought a condo in Irvine in a very nice area in 2001 for around $200k. Its a two bedroom 1.5 bath. HOA fees are 325 per month. They have it completely paid off, so all rent is coming in their pocket right now. Its an awesome neighborhood that has its own little lake, play areas for kids, green space, etc. Irvine has amazing schools, high quality tenants, etc.

Their tenants are moving out soon.  Rents in the area for this type of home can be around 1800 to 1900 per month.  So great cash flow right now.

The kitchen does need remodeled, so we would probably put some money into that if we kept it.

Now the home according to Zillow is worth around $460k.  

Does it make sense to deal the home and purchase a 4-plex say in Corona or another area?  Does it make sense to buy more in other areas?  Say turn this 1 home into 5homes around the $80k out of state.  Or leverage all and have downpayments for multiple ones all over the place.  

Either way its a great situation to be in, but just wanted to get some people's thoughts on what the best strategy could be to maximize returns.