Luis Anaya
eXp Realty of Southern Ca, Inc
(949) 771-8980
43 Total Sales
1 in French Court
$750,000 Price
215 E 15th St Santa Ana, CA 92701
French Court Neighborhood
3
Beds
3
Baths
50,400
Sq Ft
0.66
Acre Lot
Highlights
- 0.66 Acre Lot
- Laundry Facilities
- Level Lot
About This Home
As of December 2023Park Tower Luxury Apartments is a 74-unit multifamily investment opportunity located in Santa Ana, CA. With a prime Downtown Santa Ana location, residents of Park Tower Luxury Apartments are at the epicenter of all that Santa Ana has to offer. The property is located within 0.70 miles from the abundance of retail, dining, and entertainment options along East 4th Street. In recent years, Downtown Santa Ana has seen a revitalization which is exemplified by Park Tower Luxury Apartments’ location within a 0.80-mile radius of several major nearby developments. Additionally, the property is just over 1.25 miles from Santa Ana College, the 3rd top employer within the city, per Santa Ana’s 2022 Annual Comprehensive Financial Report. Furthermore, residents enjoy the property’s close proximity to Interstate 5, connecting residents to major employment hubs throughout Orange and Los Angeles Counties. Situated on a 0.66-acre lot, Park Tower Luxury Apartments offers an attractive mix of one and two-bedroom floor plans. The property features highly-desirable amenities including a gated two-story parking garage, a central courtyard, gated pedestrian access, on-site laundry facilities, and private patios or balconies. Currently, select units have undergone significant renovations, including vinyl flooring, shaker-style cabinetry, quartz countertops, and more, all of which have allowed current ownership to achieve a rental premium over non-renovated units. There is a clear and proven opportunity for new ownership to further increase the income stream through the continuation of the in-place renovation plan by upgrading all units to high-end specifications.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01451551 Listed on: 09/14/2023
Last Buyer's Agent
Marcus & Millichap RE Invest License #01451551 Listed on: 09/14/2023
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Property Details
Home Type
- Apartment
Year Built
- Built in 1984
Lot Details
- 28,750 Sq Ft Lot
- No Common Walls
- Level Lot
Home Design
- Entry on the 1st floor
Interior Spaces
- 50,400 Sq Ft Home
- 4-Story Property
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Listing and Financial Details
- Legal Lot and Block 4 / D
- Tax Tract Number 833
- Assessor Parcel Number 39812516
- $18,686 per year additional tax assessments
Community Details
Building Details
- 74 Leased Units
- Rent Control
- 74 Separate Electric Meters
- 74 Separate Gas Meters
- Electric Expense $19,299
- Fuel Expense $19,299
- Insurance Expense $42,550
- Maintenance Expense $37,000
- Other Expense $130,486
- Professional Management Expense $58,194
- Trash Expense $19,299
- Water Sewer Expense $19,299
- New Taxes Expense $242,648
- Operating Expense $588,074
- Gross Income $2,017,239
- Net Operating Income $1,351,714
Additional Features
- 74 Units
- Laundry Facilities
Home Values in the Area
Average Home Value in this Area
Agents Specializing in French Court, CA
-
Luis Anaya
-
Mike Velez
Mike Velez
Responds QuicklyBLDG Realty
(909) 413-5724
74 Total Sales
1 in French Court
$460,000 Price
-
Matthew Hoyt
Matthew Hoyt
Responds QuicklyHoyt Real Estate, Inc.
(949) 763-5992
44 Total Sales
1 in French Court
$14,350,000 Price
-
Chase Simonton
Chase Simonton
RE/MAX One
(424) 407-3501
86 Total Sales
2 in French Court
$665K - $865K Price Range
-
Tyler Leeson
Tyler Leeson
Marcus & Millichap RE Invest
(949) 209-2807
173 Total Sales
2 in French Court
$14.4M - $21.5M Price Range
-
Carlos Corona
Carlos Corona
Mission Group
(657) 214-7163
11 Total Sales
1 in French Court
$800,000 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 |
|---|---|---|---|
| $21,450,000 | Fidelity National Title | ||
| The Wells Fargo Bank National Associatio | -- | North American Title | |
| Meruelo Alex | -- | Fidelity National Title | |
| Meruelo Alex | -- | Fidelity National Title Co | |
| Loomis James C | -- | -- |
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 | $11,350,000 | ||
| Previous Owner | Park Tower Apartments Llc | $12,500,000 | |
| Previous Owner | Park Tower Apartments Llc | $12,525,000 | |
| Previous Owner | Meruelo Alex | $36,300,000 | |
| Previous Owner | Meruelo Alex | $5,500,000 | |
| Previous Owner | Meruelo Alex | $1,300,000 | |
| Previous Owner | Meruelo Alex | $4,900,000 | |
| Previous Owner | Meruelo Alex | $4,635,000 | |
| Previous Owner | Meruelo Alex | $3,877,500 | |
| Previous Owner | Meruelo Alex | $2,898,750 | |
| Previous Owner | Meruelo Alex | $1,822,500 |
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 |
|---|---|---|---|---|
| 12/29/2023 12/29/23 | Sold | $21,450,000 | -2.1% | $426 / Sq Ft |
| 11/17/2023 11/17/23 | Pending | -- | -- | -- |
| 10/30/2023 10/30/23 | Price Changed | $21,900,000 | -4.6% | $435 / Sq Ft |
| 09/14/2023 09/14/23 | For Sale | $22,950,000 | -- | $455 / 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 | $264,978 | $22,316,580 | $13,959,225 | $8,357,355 |
| 2025 | $258,069 | $21,879,000 | $13,685,514 | $8,193,486 |
| 2024 | $258,069 | $21,450,000 | $13,417,170 | $8,032,830 |
| 2023 | $212,564 | $17,498,337 | $9,465,507 | $8,032,830 |
| 2022 | $210,280 | $17,155,233 | $9,279,909 | $7,875,324 |
| 2021 | $205,421 | $16,818,856 | $9,097,950 | $7,720,906 |
| 2020 | $205,730 | $16,646,400 | $9,004,662 | $7,641,738 |
| 2019 | $201,766 | $16,320,000 | $8,828,100 | $7,491,900 |
| 2018 | $53,072 | $3,227,716 | $491,177 | $2,736,539 |
| 2017 | $52,577 | $3,164,428 | $481,546 | $2,682,882 |
| 2016 | $51,647 | $3,102,381 | $472,104 | $2,630,277 |
| 2015 | $50,961 | $3,055,781 | $465,013 | $2,590,768 |
| 2014 | $50,063 | $2,995,923 | $455,904 | $2,540,019 |
Source: Public Records
Agents Affiliated with this Home
-
Tyler Leeson
Seller's Agent in 2023
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
2 in this area
173 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC23172395
APN: 398-125-16
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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