$2,300,000
SOLD OCT 13, 2023
12 Beds
10 Baths
7,912 Sq Ft
10,454 Sq Ft Lot

Recently Sold

$291 Per Sq Ft

8% Below List Price

5 Days on Market

Highlights

  • Property is near public transit
  • Corner Lot
  • No HOA
  • Traditional Architecture
  • Lawn
  • Laundry Room

About This Home

As of August 2024

Wow Wow Wow!!! Where can you get 14 units so affordable... There is a newer roof that is about 4 years old. The building owner pays for the water and heating of the hot water. The water heater is about 3 years old. The water heater has a circulating pump so that all the tenants have hot water without having to waste water. There are a total of 14 units. 12 units are one bedroom and 2 units are two bedrooms. All the units have a stove. All the units have a wall heater. The units do not have garbage disposals. There are 12 parking spaces so two of the units do not have a parking space. There is a laundry onsite for a little extra income. The laundry machines are leased month to month. There was a new water main from the street to the building in 2022.
As always. The buyer should investigate all aspects of the property including but not limited to all the information on this listing.

Last Agent to Sell the Property

Vance Nordine

Nordine Realty, Inc License #00786474 Listed on: 09/09/2023

Co-Listed By

Vance Nordine

Nordine Realty, Inc License #01962661

Last Buyer's Agent

Vance Nordine

Nordine Realty, Inc License #00786474 Listed on: 09/09/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $25,654

Year Built

  • Built in 1960

Lot Details

  • 10,454 Sq Ft Lot
  • Two or More Common Walls
  • West Facing Home
  • Corner Lot
  • Level Lot
  • Lawn
  • Density is up to 1 Unit/Acre

Home Design

  • Traditional Architecture
  • Apartment
  • Composition Roof
  • Stucco

Interior Spaces

  • 7,912 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • 12 Open Parking Spaces
  • 12 Parking Spaces
  • Parking Available
  • Private Parking
  • Driveway
  • Off-Street Parking
  • Assigned Parking

Location

  • Property is near public transit

Utilities

  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 10 / 11
  • Tax Tract Number 548
  • Assessor Parcel Number 39828605

Community Details

Overview

  • No Home Owners Association
  • 14 Units

Amenities

  • Laundry Facilities

Building Details

  • 14 Leased Units
  • Rent Control
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 14 Separate Water Meters
  • Electric Expense $720
  • Gardener Expense $1,440
  • Insurance Expense $3,600
  • Maintenance Expense $10,000
  • Other Expense $1,560
  • Trash Expense $3,600
  • Water Sewer Expense $6,480
  • New Taxes Expense $32,000
  • Operating Expense $59,400
  • Net Operating Income $147,648

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$25,654

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Assessments: Yes
  • Price Per Unit: 178571
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Water Sewer Expenses: 6480.00
  • Zoning: SB-40
  • Architectural Style: Traditional
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1440.00
  • Parcel Number: 39828605
  • Year Built: 1960
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 290.70

Exterior Features

  • Direction Faces: West
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned, Driveway, Off Street, On Site, Private
  • Total Parking Spaces: 12.00
  • Uncovered Spaces: 12.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Electric: Standard
  • Heating Type: Wall Furnace
  • Laundry Features: Community, Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 3600.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Corner Lot, Lawn, Level with Street, Lot 10000-19999 Sqft, Near Public Transit
  • Lot Size Sq Ft: 10454.00
  • Lot Size Acres: 0.2400

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 720.00
  • Gross Multiplier: 11.57
  • Gross Scheduled Income: 215964.00
  • Insurance Expense: 3600.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 400.00
  • Lot Size Area: 10454.0000 Square Feet
  • Maintenance Expense: 10000.00
  • Net Operating Income: 147648.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 14
  • Number Of Units Leased: 14
  • Number Of Units Total: 14
  • Number With Range: 14
  • Operating Expense: 68316.00
  • Other Expense: 1560.00
  • Other Expense Description: Laundry
  • Other Income Description: Laundry income is not in Gross
  • Rent Control: Yes
  • Total Actual Rent: 17997.00
  • Total Expenses: 59400.00

Tax Info

  • New Taxes Expense: 32000.00
  • Tax Block: 11
  • Tax Census Tract: 746.01
  • Tax Lot: 10
  • Tax Tract Number: 548
  • Tax Annual Amount: 25654.00

Similar Homes in Santa Ana, CA

  • 1423 W Lingan Ln, Santa Ana, CA 92704

    $1,895,000

    • 1 Bed
    • 1 Bath
    • 4,584 Sq Ft
    • 1423 W Lingan Ln
    • Santa Ana, CA

    We are pleased to present the Lingan Lane Apartments located at 1423 Lingan Lane in a solid Santa Ana rental location. This garden-style two-story walkup is in great condition thanks to quality management and a strong pride of ownership. Six of the eight 1 bed / 1 bath units have been renovated at a cost of about $22,000 each unit. The building has gated pedestrian access, pitched composition

    Mark Bridge Mark Bridge, Broker

    Section Image
  • 1805 N Bush St, Santa Ana, CA 92706

    $1,900,000

    • 2 Beds
    • 2 Baths
    • 4,498 Sq Ft
    • 1805 N Bush St
    • Santa Ana, CA

    1805 North Bush Street is an 8-unit multifamily investment opportunity located in a desirable North Santa Ana location. 1805 North Bush Street is a 4,498 square foot two-story building situated between Floral Park and French Park, two of Santa Ana’s most desirable neighborhoods. The property features a unique unit mix consisting of 6, studio units and 2, two-bedroom units with desirable amenities

    Tyler Leeson Marcus & Millichap RE Invest

    Section Image

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
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

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/16/2024 08/16/24 Sold $3,335,000 -4.6% $422 / Sq Ft
05/13/2024 05/13/24 Price Changed $3,495,000 -7.4% $442 / Sq Ft
04/18/2024 04/18/24 For Sale $3,775,000 +64.1% $477 / Sq Ft
10/13/2023 10/13/23 Sold $2,300,000 -8.0% $291 / Sq Ft
09/14/2023 09/14/23 Pending -- -- --
09/09/2023 09/09/23 For Sale $2,500,000 -- $316 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW23169062

California Regional Multiple Listing Service (CRMLS)