Arthur Cervantes
Arthur Cervantes Properties Inc
(657) 239-4578
111 Total Sales
1 in Southeast Industrial District
$300,000 Price
1401 S Standard Ave Santa Ana, CA 92707
Southeast Industrial District Neighborhood
6
Beds
4
Baths
6,589
Sq Ft
10,181
Sq Ft Lot
Highlights
- Property is near public transit
- Landscaped
- Laundry Facilities
- No HOA
About This Home
As of October 2023The Standard Avenue Apartments is a nine-unit apartment building located in the City 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 1961, the subject property offers an attractive unit mix comprised of three-, two-, and one-bedroom units totaling 6,589 square feet. Some amenities include gated entry, ample on-site parking, and an on-site laundry room. Some recent renovations and upgrades include new floors, new bathrooms, updated kitchens, and fresh paint throughout.
This offering represents a rare opportunity for an investor to achieve a 6.05% CAP Rate and 5.76% Cash-on-Cash return, on current income, for a stable, turnkey investment property in the desirable rental market of Santa Ana, California. Additionally, The Standard Avenue Apartments are well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01365951 Listed on: 05/22/2023
Last Buyer's Agent
Marcus & Millichap RE Invest License #01365951 Listed on: 05/22/2023
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Property Details
Home Type
- Apartment
Year Built
- Built in 1961
Lot Details
- 10,181 Sq Ft Lot
- No Common Walls
- Landscaped
Home Design
- Entry on the 1st floor
Interior Spaces
- 6,589 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Parking
- 12 Open Parking Spaces
- 12 Parking Spaces
Additional Features
- Exterior Lighting
- Property is near public transit
Listing and Financial Details
- Tax Lot 32
- Tax Tract Number 3533
- Assessor Parcel Number 01425216
- $2,001 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 9 Units
Amenities
- Laundry Facilities
Building Details
- 9 Leased Units
- Rent Control
- 9 Separate Electric Meters
- 9 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $3,025
- Fuel Expense $3,025
- Gardener Expense $1,400
- Insurance Expense $3,879
- Maintenance Expense $4,500
- Trash Expense $3,025
- Water Sewer Expense $3,025
- New Taxes Expense $27,709
- Operating Expense $51,788
- Gross Income $196,632
- Net Operating Income $138,945
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 22, 2023
Closed on
Oct 3, 2023
Sold by
Minerva Investment Group Llc
Bought by
Seller's Agent
Greg Bassirpou
Marcus & Millichap RE Invest
Buyer's Agent
Greg Bassirpou
Marcus & Millichap RE Invest
List Price
$2,540,000
Sold Price
$2,150,000
Premium/Discount to List
-$390,000
-15.35%
Views
117
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,240,000
Outstanding Balance
$1,204,332
Interest Rate
7.18%
Mortgage Type
New Conventional
Purchase Details
Listed on
Oct 7, 2021
Closed on
Dec 13, 2021
Sold by
Mclaughlin Steven Paul
Bought by
Minerva Investment Group Llc
Seller's Agent
Tyler Leeson
Marcus & Millichap RE Invest
Buyer's Agent
Greg Bassirpou
Marcus & Millichap RE Invest
List Price
$2,100,000
Sold Price
$1,900,000
Premium/Discount to List
-$200,000
-9.52%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.23%
Purchase Details
Closed on
Dec 15, 1999
Sold by
1401 S Standard
Bought by
Mclaughlin Steven Paul
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$344,325
Interest Rate
7.87%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 17, 1996
Sold by
King Gary R
Bought by
1401 S Standard Llc
Purchase Details
Closed on
Oct 21, 1993
Sold by
Shin Joung N and Shin Seung H
Bought by
King Gary R
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Southeast Industrial District, CA
-
Arthur Cervantes
-
Elizabeth Do
Elizabeth Do
Responds QuicklyKeller Williams Realty
(657) 315-6764
655 Total Sales
1 in Southeast Industrial District
$415,000 Price
-
Yvonne Tran
Yvonne Tran
Responds QuicklyLifetime Realty Inc
(657) 279-4599
11 Total Sales
1 in Southeast Industrial District
$545,000 Price
-
Raquel Terrones
Raquel Terrones
Responds QuicklyRE/MAX One
(657) 208-9088
43 Total Sales
7 in Southeast Industrial District
$400K - $520K Price Range
-
Jin Hong
Jin Hong
Responds QuicklyPremier Realty
(657) 427-7289
158 Total Sales
2 in Southeast Industrial District
$401,000 Price Range
-
Robert Rivera
Robert Rivera
Circa Properties, Inc.
(562) 501-4980
47 Total Sales
1 in Southeast Industrial District
$365,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $2,150,000 | Chicago Title | ||
| Minerva Investment Group Llc | $1,900,000 | Chicago Title | |
| Mclaughlin Steven Paul | $461,000 | Fidelity National Title Co | |
| 1401 S Standard Llc | -- | -- | |
| King Gary R | -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $1,240,000 | ||
| Previous Owner | Mclaughlin Steven Paul | $250,000 | |
| Previous Owner | Mclaughlin Steven Paul | $169,200 | |
| Previous Owner | Mclaughlin Steven Paul | $344,325 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/12/2023 10/12/23 | Sold | $2,150,000 | -6.3% | $326 / Sq Ft | |
| 09/19/2023 09/19/23 | Pending | -- | -- | -- | |
| 09/11/2023 09/11/23 | Price Changed | $2,295,000 | -9.6% | $348 / Sq Ft | |
| 05/22/2023 05/22/23 | For Sale | $2,540,000 | +33.7% | $385 / Sq Ft | |
| 01/04/2022 01/04/22 | Sold | $1,900,000 | -9.5% | $288 / Sq Ft | View Prior Sale |
| 10/26/2021 10/26/21 | Pending | -- | -- | -- | |
| 10/07/2021 10/07/21 | For Sale | $2,100,000 | -- | $319 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $26,763 | $2,236,860 | $1,987,477 | $249,383 |
| 2025 | $26,763 | $2,193,000 | $1,948,506 | $244,494 |
| 2024 | $26,064 | $2,150,000 | $1,910,300 | $239,700 |
| 2023 | $23,537 | $1,938,000 | $1,698,300 | $239,700 |
| 2022 | $9,474 | $667,095 | $429,798 | $237,297 |
| 2021 | $9,268 | $654,015 | $421,370 | $232,645 |
| 2020 | $9,267 | $647,309 | $417,049 | $230,260 |
| 2019 | $9,113 | $634,617 | $408,871 | $225,746 |
| 2018 | $8,801 | $622,174 | $400,854 | $221,320 |
| 2017 | $8,721 | $609,975 | $392,994 | $216,981 |
| 2016 | $8,559 | $598,015 | $385,288 | $212,727 |
| 2015 | $8,446 | $589,033 | $379,501 | $209,532 |
| 2014 | $8,295 | $577,495 | $372,067 | $205,428 |
Source: Public Records
Agents Affiliated with this Home
-
Greg Bassirpou
Seller's Agent in 2023
Greg Bassirpou
Marcus & Millichap RE Invest
(949) 419-3269
2 in this area
19 Total Sales
-
Tyler Leeson
Seller's Agent in 2022
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
3 in this area
170 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC23089123
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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