$5,875,000
520 E Walnut Street Santa Ana, CA 92701
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$5,875,000
Est. payment /mo
15,552 SqFt
Active
520 E Walnut Street Santa Ana, CA 92701
UPDATED:
10/14/2024 10:54 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 15,552 sqft
Price per Sqft $377
MLS Listing ID CROC24212983
HOA Y/N No
Year Built 1983
Lot Size 0.480 Acres
Acres 0.48
Property Description
520 East Walnut Street is a 16-unit multifamily investment property located in Santa Ana, CA. Built in 1983, 520 East Walnut Street offers exclusively two-bedroom townhomes with private patios. The property features highly desirable amenities including in-unit laundry hookups, central A/C and heating, controlled pedestrian access, and a gated subterranean parking garage. Currently, there are 12 renovated or partially renovated units that feature high-quality upgrades including appliances, shaker-style cabinets, quartz countertops, plumbing fixtures, recessed lighting, and more. These improvements have allowed ownership to charge a significant rental premium over non-renovated units, with an average rent of $2,795 for the renovated units. Furthermore, current ownership has identified under-utilized community space that could further increase rental income and diversify the overall unit mix through the conversion of a storage room into an accessory dwelling unit (ADU). 520 East Walnut Street benefits from its excellent central Santa Ana location just south of Downtown Santa Ana and its bustling 4th Street, providing residents with convenient access to a plethora of retail, dining, and entertainment options. Additionally, the property is within walking distance of Downtown Plaza, gr
Location
State CA
County Orange
Area Listing
Interior
Heating Other
Fireplace No
Laundry Other
Building
Lot Description Level
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 40408101
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Listed by Tyler Leeson • Marcus & Millichap RE Invest
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