511 E Washington Ave | Santa Ana, CA 92701
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- LoopNet Team
511 E Washington Ave
Santa Ana, CA 92701
Multifamily Property For Sale
·
30 Units
INVESTMENT HIGHLIGHTS
- Excellent Location Across From Historic French Park Community & Vibrant Downtown Santa Ana
- Very Attractive Unit Mix Consisting of One-, Two-, & Three-Bedroom Units / Extensive Recent Renovations & Upgrades of Interiors & Exterior
- Secured Gated-Entry with Large Garden-Style Courtyard, BBQ Area, Patios, & Balconies / RUBS (Utility Billing) System Already in Place
- 6.5% CAP Rate and 9.0% Cash-on-Cash Return on Current Income / Value-Add Opportunity: Substantial Rental Upside
- Opportunity to Add ADU’s to Property to Further Maximize Cash Flow / Ample On-Site Parking Including (34) Carports & (22) Open Spaces
- Building Owned On-Site Laundry Facility / Easy Access to Freeways and Close to Schools, Retail, Employment, & Entertainment
PROPERTY FACTS
| No. Units | 30 | Building Size | 26,707 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1964 |
| Building Class | C | Parking Ratio | 2.1/1,000 SF |
| Lot Size | 1.07 AC | ||
| Zoning | R3 | ||
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.07 AC |
| Building Size | 26,707 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.1/1,000 SF |
| Zoning | R3 |
AMENITIES
SITE AMENITIES
- Controlled Access
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,878 | 500 - 550 |
| 2+1 | 10 | $2,310 | 875 |
| 2+2 | 1 | $2,102 | 1,120 |
| 3+2 | 11 | $2,860 | 1,135 |
PROPERTY TAXES
| Parcel Number | 398-151-18 | Improvements Assessment | $1,273,449 |
| Land Assessment | $8,489,664 | Total Assessment | $9,763,113 |
PROPERTY TAXES
Parcel Number
398-151-18
Land Assessment
$8,489,664
Improvements Assessment
$1,273,449
Total Assessment
$9,763,113
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