Seller's Agent in 2024
Rick Applebaum
Morgan Skenderian
(949) 251-8800
4 in this area
67 Total Sales
202 E Walnut St Santa Ana, CA 92701
Pacific Park Neighborhood
2
Beds
3
Baths
7,638
Sq Ft
0.26
Acres
About This Home
As of April 2024Pleased to present 202 E. Walnut Street, a garden style, 10-unit apartment complex overflowing with curb appeal, consisting of (9) Large 1-Bedroom units and (1) Studio averaging 763 SF each. Beautifully maintained with lush landscaping and a heavily upgraded property, the units are situated on a sizeable corner lot of a quiet, treelined street. Residents of the property enjoy the proximity to the Historic Downtown District (walking distance) known for its vibrant artistic & cultural scene, trendy dining establishments and various other entertainment related venues. All units of the property have been meticulously cared for and fully upgraded with washer and dryer machines included in each unit, all new kitchens with stainless steel appliance, interior paint, fixture throughout the units, and dual pane windows. Priced at a 6.3% CAP rate on the current rents makes this investment one the most attractive multifamily investments in the entire county. A rare opportunity to take advantage of positive leverage, allowing the investor to place a smaller down payment and increase the cash-on-cash return. Additionally, current ownership is in the process of obtaining approval for (2) ADU (Accessory Dwelling Units) which is expected to receive planning approval shortly. The additional income generate from this unit is expected to increase gross income by 23%.
Last Agent to Sell the Property
Morgan Skenderian Brokerage Email: rma@morganskenderian.com License #01273871 Listed on: 01/31/2024
Co-Listed By
Morgan Skenderian Brokerage Email: rma@morganskenderian.com License #01942627
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $35,400
Year Built
- Built in 1937
Lot Details
- 0.26 Acre Lot
- Two or More Common Walls
Parking
- 5 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 7,638 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Legal Lot and Block 11 / D
- Tax Tract Number 134
- Assessor Parcel Number 40409213
- $2,565 per year additional tax assessments
Community Details
Overview
- 3 Buildings
- 10 Units
Building Details
- Rent Control
- 11 Separate Electric Meters
- 10 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $3,000
- Fuel Expense $3,000
- Gardener Expense $600
- Insurance Expense $5,347
- Maintenance Expense $8,084
- Other Expense $2,695
- Trash Expense $3,000
- Water Sewer Expense $3,000
- New Taxes Expense $37,965
- Operating Expense $67,441
- Gross Income $6,000
- Net Operating Income $202,025
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/08/2024 04/08/24 | Sold | $2,850,000 | -10.8% | $373 / Sq Ft | |
| 04/03/2024 04/03/24 | Pending | -- | -- | -- | |
| 01/31/2024 01/31/24 | For Sale | $3,195,000 | +26.5% | $418 / Sq Ft | |
| 05/11/2022 05/11/22 | Sold | $2,525,000 | +3.1% | $331 / Sq Ft | View Prior Sale |
| 02/10/2022 02/10/22 | Pending | -- | -- | -- | |
| 11/02/2021 11/02/21 | For Sale | $2,450,000 | -- | $321 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Rick Applebaum
-
Paul Espinosa
Seller Co-Listing Agent in 2024
Paul Espinosa
Morgan Skenderian
(714) 206-2688
2 in this area
36 Total Sales
-
Damien Breaux
Buyer's Agent in 2024
Damien Breaux
Morgan Skenderian
(949) 584-0503
2 in this area
41 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24022495
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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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