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$9,700,000

Beds
Unknown
sq ft
Unknown

511 E Washington Ave, Santa Ana, CA 92701

511 E Washington Ave

Santa Ana, CA 92701

  • 85 days on market
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, California. Additionally, The Washington Avenue Apartments are well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.

Details

Property type

Apartment

Lot size

1.067 acres

Price per sq ft

Unknown

Year built

1964

Price History

09/30/2024
CRMLS

CRMLS #OC24202271

Listed
$9,700,000

Schools & Community

Neighborhood: 

French Park

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs, Street Lights, Sidewalks

Status: Active

Tomo last checked: 12/24/2024 at 6:05 AM

Listing updated: 12/04/2024 at 9:25 PM

Listed by: Greg Bassirpou, Marcus & Millichap RE Invest Phone #: (949) 419-3200

MLS: CRMLS #OC24202271

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