$9,700,000
511 E Washington Avenue Santa Ana, CA 92701
Save Share
Schedule a Tour
23
See all 23 photos
$9,700,000
Est. payment /mo
26,707 SqFt
Active
511 E Washington Avenue Santa Ana, CA 92701
UPDATED:
10/02/2024 11:10 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 26,707 sqft
Price per Sqft $363
MLS Listing ID CROC24202271
HOA Y/N No
Year Built 1964
Lot Size 1.067 Acres
Acres 1.07
Property Description
The Washington Avenue Apartments is a 30-unit apartment community located in the very desirable French Court neighborhood of Santa Ana, one of the strongest rental markets in Southern California. The City of Santa Ana is a historic city with a vibrant downtown located in Orange County. Built in 1964, the subject property offers a very attractive unit mix comprised of one-, two-, and three-bedroom units totaling 26,707 square feet situated on just over one acre of land. Approximately 75% of the unit mix consists of two- and three-bedroom units. Some amenities include gated entry with a large courtyard, ample on-site parking including carports, BBQ area, patios/balconies, and an on-site laundry facility. Some recent renovations and upgrades of interiors and exterior include granite countertops, vinyl/plank flooring, new tubs and showers, new appliances, new windows and sliders, new railings, a substantial deck replacement/resurfacing, new A/C units, some new bathrooms and kitchens, and the bulk of the individual water heaters have been replaced. This offering represents an opportunity for an investor to achieve a 5.88% CAP Rate and 6.14% Cash-on-Cash return, on current income, for a well-located and stable/turnkey investment property in the desirable rental market of Santa Ana, Cal
Location
State CA
County Orange
Area Listing
Zoning R3
Interior
Fireplace No
Laundry Community Facility
Building
Lot Description Other
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 39815118
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Greg Bassirpou • Marcus & Millichap RE Invest
GET MORE INFORMATION
