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511 E Washington Ave
Santa Ana, CA 92701

$9,700,000 USD

Apartments For Sale • 26,707 SF

Property Details

Property Type Apartments
Total Building Size 26,707 SF
Lot Size 1.07 AC
Building Class C
Year Built 1964
Cap Rate 5.88 %
Zoning R3

50 Transit Score

86 Walk Score

                
                    Highlights
                
                                Excellent Location Across From Historic French Park Community & Vibrant Downtown Santa Ana
                            
                                5.88% CAP Rate and 6.14% Cash-on-Cash Return on Current Income /  Value-Add Opportunity: Substantial Rental Upside
                            
                                Very Attractive Unit Mix Consisting of One-, Two-, & Three-Bedroom Units / Extensive Recent Renovations & Upgrades of Interiors & Exterior
                            
                                Opportunity to Add ADU’s to Property to Further Maximize Cash Flow / Ample On-Site Parking Including (34) Carports & (22) Open Spaces
                            
                                Secured Gated-Entry with Large Garden-Style Courtyard, BBQ Area, Patios, & Balconies / RUBS (Utility Billing) System Already in Place
                            
                                Building Owned On-Site Laundry Facility / Easy Access to Freeways and Close to Schools, Retail, Employment, & Entertainment

Financial Summary (Actual)

Net Operating Income: $570,129 USD (2023)

Cap Rate:	5.88 %
Total Expenses:	$217,259 USD

Amenities

Controlled Access
Courtyard
Laundry Facilities

Public Transportation

Commuter Rail	Drive	Walk	Distance
Santa Ana (Inland Empire-Orange County Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink))	2 min	15 min	0.7 mi
Orange (Inland Empire-Orange County Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink))	7 min	-	3.3 mi
Airport	Drive	Walk	Distance
John Wayne/Orange County	11 min	-	8.1 mi
Long Beach (Daugherty Field)	27 min	-	21.4 mi
Ontario International	45 min	-	35.3 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	22
Type:	Surface
Included in Rent:	Yes

Greg Bassirpou 714-608-3255 Marcus & Millichap

511 E Washington Ave Santa Ana, CA 92701