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Park Town Townhomes 311-313 E Pine St 19 Unit Apartment Building $7,500,000 ($394,737/Unit) 5.70% Cap Rate Santa Ana, CA 92701
INVESTMENT HIGHLIGHTS
- PRIME LOCATION IN SANTA ANA
- WELL-MAINTAINED ASSET
- DIVERSE UNIT MIX
- STRONG RENTAL UPSIDE
- HIGH DEMAND SUBMARKET
- STRONG CASH FLOW POTENTIAL
EXECUTIVE SUMMARY
Centennial Advisers is pleased to offer 313 E Pine St., Santa Ana, CA 92701, a 19-
unit multifamily property priced at $7,500,000. The property features spacious 2-
bedroom, 2-bath units, ranging from 900 to 2,700 sq. ft., totaling 17,424 sq. ft. of
rentable space. The asset is situated on a 20,525 sq. ft. lot and offers a cost per
unit of $394,737 and cost per net rentable square foot of $365.41.
The property generates $682,056 in current gross income, with potential to
increase to $765,193 under market rents. The current cap rate is 5.7%, with the
potential to rise to 6.78%. Operating expenses are 34% of income, and the net
operating income is $427,695, with pre-tax cash |ow of $72,123. Under market
rents, pre-tax cash |ow could increase to $152,766.
Located in Santa Ana, this property bene{ts from proximity to key employment
hubs and transportation corridors, including the Santa Ana Transit Center and
major freeways like Interstate 5 and Interstate 55. The area is experiencing strong
growth and revitalization, making it an ideal location for multifamily investment.
For investors, this asset offers immediate upside through rent increases, with
strong cash |ow potential and a debt coverage ratio of 1.20. With the opportunity
to capture additional value, this property presents an attractive investment in a
high-demand market.
unit multifamily property priced at $7,500,000. The property features spacious 2-
bedroom, 2-bath units, ranging from 900 to 2,700 sq. ft., totaling 17,424 sq. ft. of
rentable space. The asset is situated on a 20,525 sq. ft. lot and offers a cost per
unit of $394,737 and cost per net rentable square foot of $365.41.
The property generates $682,056 in current gross income, with potential to
increase to $765,193 under market rents. The current cap rate is 5.7%, with the
potential to rise to 6.78%. Operating expenses are 34% of income, and the net
operating income is $427,695, with pre-tax cash |ow of $72,123. Under market
rents, pre-tax cash |ow could increase to $152,766.
Located in Santa Ana, this property bene{ts from proximity to key employment
hubs and transportation corridors, including the Santa Ana Transit Center and
major freeways like Interstate 5 and Interstate 55. The area is experiencing strong
growth and revitalization, making it an ideal location for multifamily investment.
For investors, this asset offers immediate upside through rent increases, with
strong cash |ow potential and a debt coverage ratio of 1.20. With the opportunity
to capture additional value, this property presents an attractive investment in a
high-demand market.
PROPERTY FACTS
| Price | $7,500,000 | Building Class | B |
| Price Per Unit | $394,737 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 20,525 SF |
| Cap Rate | 5.70% | Average Occupancy | 100% |
| No. Units | 19 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1987/2021 |
| Property Subtype | Apartment | Parking Ratio | 2.05/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R3, Santa Ana | ||
| Price | $7,500,000 |
| Price Per Unit | $394,737 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 20,525 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1987/2021 |
| Parking Ratio | 2.05/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Santa Ana |
AMENITIES
UNIT AMENITIES
- Balcony
- Washer/Dryer Hookup
SITE AMENITIES
- Controlled Access
- Courtyard
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 13 | - | 900 |
| 3+2 | 6 | - | 1,100 |
1 1
Walk Score®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 404-093-19 | Improvements Assessment | $2,653,020 |
| Land Assessment | $5,306,040 | Total Assessment | $7,959,060 |
PROPERTY TAXES
Parcel Number
404-093-19
Land Assessment
$5,306,040
Improvements Assessment
$2,653,020
Total Assessment
$7,959,060
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Park Town Townhomes | 311-313 E Pine St
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