Jennifer Thomas
Seven Gables Real Estate
(949) 468-3483
78 Total Sales
1 in Pacific Park
$625,000 Price
311 E Pine St Santa Ana, CA 92701
Pacific Park Neighborhood
5
Beds
4
Baths
20,525
Sq Ft
0.4
Acre Lot
Highlights
- 0.4 Acre Lot
- Subterranean Parking
- Laundry Facilities
- Property is near public transit
About This Home
As of November 2021The Park Town Luxury Townhomes are 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 1987, the subject property offers a unit mix consisting of (6) three-bedroom/ two-bathroom units and (13) two-bedroom/ two-bathroom townhouse-style units totaling 20,525 square feet, situated over a 17,493 square foot lot. The subject property has recently gone through an extensive $350K exterior and interior renovation. Some upgrades include but are not limited to new roofs, new flooring, new kitchens, updated bathrooms, new windows, new plumbing, and new decking. Some tenant amenities include a large courtyard, gated security access, ample on-site subterranean parking, elevator access, and in-unit washer & dryer hookups.
This offering represents a rare opportunity for an investor to achieve a 4.6% CAP Rate and 8% Total Return on current income for a stable, turnkey investment property in the desirable rental market of Santa Ana, California.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01365951 Listed on: 08/12/2021
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1987
Lot Details
- 17,490 Sq Ft Lot
- No Common Walls
Parking
- 40 Car Garage
- Subterranean Parking
- Parking Available
Home Design
- 20,525 Sq Ft Home
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Bathrooms
Additional Features
- Washer and Electric Dryer Hookup
- Exterior Lighting
- Property is near public transit
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 11772
- Assessor Parcel Number 40409319
- $4,583 per year additional tax assessments
Community Details
Building Details
- Rent Control
- 19 Separate Electric Meters
- 1 Separate Water Meter
- Electric Expense $7,893
- Insurance Expense $4,047
- Professional Management Expense $20,160
- Trash Expense $7,893
- Water Sewer Expense $7,895
- New Taxes Expense $89,614
- Operating Expense $158,581
- Gross Income $521,280
- Net Operating Income $347,060
Additional Features
- 19 Units
- Laundry Facilities
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
Closed on
Sep 8, 2021
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,980,000
Interest Rate
2.99%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 21, 2019
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,250,000
Interest Rate
4.4%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 14, 2017
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,215,000
Interest Rate
3.91%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Sep 25, 2015
Sold by
Bought by
Purchase Details
Closed on
Mar 5, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,798,000
Interest Rate
5.61%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 9, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,798,000
Interest Rate
5.61%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 22, 2002
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,288,000
Interest Rate
6.15%
Mortgage Type
Construction
Purchase Details
Closed on
Apr 11, 1997
Sold by
Bought by
Purchase Details
Closed on
Dec 6, 1995
Sold by
Bought by
Purchase Details
Closed on
Sep 7, 1995
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Pacific Park, CA
-
Jennifer Thomas
-
Andro Chavez
Andro Chavez
Re/Pro Realty
(657) 366-5303
119 Total Sales
4 in Pacific Park
$700K - $925K Price Range
-
Eduardo Franco
Eduardo Franco
ALTICORE REALTY
(951) 441-3688
123 Total Sales
1 in Pacific Park
$680,000 Price
-
David George
David George
Compass
(657) 315-1617
80 Total Sales
1 in Pacific Park
$435,000 Price
-
Luis Anaya
Luis Anaya
Keller Williams Legacy
(949) 771-8980
45 Total Sales
2 in Pacific Park
$1,370,000 Price Range
-
Andres Andy Guzman
AG
Andres Andy Guzman
Responds QuicklySunset Group Realty
(818) 351-1575
6 Total Sales
1 in Pacific Park
$900,000 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 |
|---|---|---|---|
| $7,500,000 | First American Title | ||
| $5,950,000 | First American Title | ||
| -- | None Available | ||
| $4,310,000 | Stewart Title Of Ca Inc | ||
| -- | Commonwealth Title | ||
| -- | Commonwealth Title | ||
| -- | Commonwealth Land Title Co | ||
| -- | -- | ||
| $684,818 | Chicago Title Co | ||
| -- | -- |
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 |
|---|---|---|---|
| Previous Owner | $4,980,000 | ||
| Previous Owner | $3,250,000 | ||
| Previous Owner | $3,215,000 | ||
| Previous Owner | $1,798,000 | ||
| Previous Owner | $1,288,000 |
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 |
|---|---|---|---|---|
| 11/19/2021 11/19/21 | Sold | $7,500,000 | -0.3% | $365 / Sq Ft |
| 09/01/2021 09/01/21 | Pending | -- | -- | -- |
| 08/12/2021 08/12/21 | For Sale | $7,525,000 | -- | $367 / 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 | $94,320 | $6,834,000 | $4,127,920 | $2,706,080 |
| 2025 | $91,877 | $7,959,060 | $5,306,040 | $2,653,020 |
| 2024 | $91,877 | $7,803,000 | $5,202,000 | $2,601,000 |
| 2023 | $89,626 | $7,650,000 | $5,100,000 | $2,550,000 |
| 2022 | $88,730 | $7,500,000 | $5,000,000 | $2,500,000 |
| 2021 | $73,888 | $6,209,167 | $3,632,749 | $2,576,418 |
| 2020 | $74,026 | $6,145,500 | $3,595,500 | $2,550,000 |
| 2019 | $56,189 | $4,573,806 | $2,759,141 | $1,814,665 |
| 2018 | $54,055 | $4,484,124 | $2,705,040 | $1,779,084 |
| 2017 | $53,603 | $4,396,200 | $2,652,000 | $1,744,200 |
| 2016 | $52,547 | $4,310,000 | $2,600,000 | $1,710,000 |
| 2015 | $41,363 | $3,305,458 | $1,532,599 | $1,772,859 |
| 2014 | $40,649 | $3,240,709 | $1,502,577 | $1,738,132 |
Source: Public Records
Agents Affiliated with this Home
-
Greg Bassirpou
Seller's Agent in 2021
Greg Bassirpou
Marcus & Millichap RE Invest
(949) 419-3269
1 in this area
20 Total Sales
-
Rick Applebaum
Buyer's Agent in 2021
Rick Applebaum
Morgan Skenderian
(949) 251-8800
4 in this area
77 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC21178404
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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