$2,200,000
- Beds
- Unknown
- sq ft
- Unknown
1001 N Van Ness Ave, Santa Ana, CA 92701
1001 N Van Ness Ave
Santa Ana, CA 92701
- 101 days on market
The subject consists of a two-story, nine-unit woodframe and stucco apartment building constructed in 1964 and last renovated in 2024, when the owners painted the exterior stucco and trim, replaced the roof, windows, many of the HVAC units, bathroom sinks and light fixtures. There are eight one bedroom/one bath units, each approximately 625 square feet in size and one two bedroom/one and one-half bath two-story townhouse approximately 900 square feet in size. The property has an outstanding location just two short blocks directly north of the main portion of the Santa Ana Civic Center. Santa Ana is the county seat and is the location of most of the major city, county, state and federal government buildings in Orange County. Parking in the Civic Center area is scarce and expensive, so the ability to walk to the Civic Center is a major attraction of this location. The property includes six covered carport spaces plus six uncovered spaces. Many similar-sized apartment buildings have been renovated or have been newly-constructed in the neighborhood. Rental rates at the property are low and very rarely are there vacancies in the building. Most apartment buildings with the city of Santa Ana, including the subject, are subject to city and state rent stabilization regulations. The rental rates specified herein are effective October 1, 2024, however, the property may qualify for a capital improvement adjustment in the allowed rental rates which, when approved, may allow the owner a significant increase the annual net operating income per year. The subject is also located in a federal Opportunity Zone, which affords a purchaser potential for certain additional income tax benefits.
The subject is located on a corner parcel. Although eight of the apartment units front on North Van Ness Street, the one-two bedroom apartment unit fronts on 10th Street and the public record for this parcel uses the address of 519 West 10th Street.
Details
Property type
Apartment
Lot size
9,627 sq ft
Price per sq ft
Unknown
Year built
1964
HOA
No
Price History
09/14/2024
CRMLS #PW24155809
Listed
$2,200,000
08/06/2024
CRMLS #PW24155809
Removed
$2,200,000
07/30/2024
CRMLS #PW24155809
Listed
$2,200,000
Schools & Community
Neighborhood:
Willard
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Curbs, Sidewalks
Community features:
Curbs, Sidewalks
Status: Active
Tomo last checked: 11/08/2024 at 11:45 AM
Listing updated: 10/22/2024 at 5:50 PM
Listed by: Carl Reinhart, Carl Reinhart, Broker Phone #: (714) 404-8020
MLS: CRMLS #PW24155809
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