Seller's Agent in 2020
Rick Applebaum
Morgan Skenderian
(949) 251-8800
4 in this area
70 Total Sales
409 E Pine St Santa Ana, CA 92701
Pacific Park Neighborhood
3
Beds
2
Baths
10,200
Sq Ft
0.32
Acres
About This Home
As of August 2020We are pleased to offer 409-415 E. Pine Street, a 12-unit apartment investment opportunity located in the highly desirable rental market of Santa Ana. Built in 1983 and comprised of 1 & 2 bedroom units, the majority of them being 2 bedrooms. This low turnover asset operates extremely smoothly allowing a new investor to immediately produce cash flow with as little as a 35% down payment but still has exceptional upside potential through continued improvement of the interiors and the ability to increase rents. Nestled along a tree line street, the Pine Street apartments are ideally located within walking distance to the vibrant Downtown Santa Ana Historic District, recently re-imagined with over $150 million in upgrades bringing food halls, shopping, entertainment and new energy to the district with a perfect balance of old and new. Additionally, this property is located just over 2 miles to the City of Tustin, and close proximity to shopping malls, major employment & freeways offering ease of access to the best parts of the surrounding neighborhoods. All these attributes equate to a healthy supply of renters and long term tenants. Furthermore, the property is located within an “Opportunity-Zone” offering additional tax advantages for upgrading the property making 409-415 E. Pine Street a sound investment for years to come.
Last Agent to Sell the Property
Morgan Skenderian License #01273871 Listed on: 07/21/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1983
Lot Details
- 0.32 Acre Lot
- No Common Walls
- Density is 11-15 Units/Acre
- 404-086-10
Interior Spaces
- 10,200 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Parking
- 12 Parking Spaces
- 12 Carport Spaces
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Legal Lot and Block 9 / E
- Tax Tract Number 568
- Assessor Parcel Number 40408609
Community Details
Overview
- 2 Buildings
- 12 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 13 Separate Electric Meters
- 13 Separate Gas Meters
- 2 Separate Water Meters
- Gardener Expense $1,200
- Insurance Expense $3,570
- Maintenance Expense $13,732
- Other Expense $15,467
- New Taxes Expense $36,105
- Operating Expense $73,748
- Gross Income $2,400
- Net Operating Income $137,518
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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 |
|---|---|---|---|---|---|
| 08/26/2020 08/26/20 | Sold | $3,100,000 | -3.1% | $304 / Sq Ft | |
| 08/17/2020 08/17/20 | Pending | -- | -- | -- | |
| 07/21/2020 07/21/20 | For Sale | $3,200,000 | +237.2% | $314 / Sq Ft | |
| 05/06/2014 05/06/14 | Sold | $949,000 | 0.0% | $186 / Sq Ft | View Prior Sale |
| 03/14/2014 03/14/14 | Pending | -- | -- | -- | |
| 03/06/2014 03/06/14 | For Sale | $949,000 | -- | $186 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| 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 |
|---|---|---|---|---|
| 2025 | $19,905 | $1,677,769 | $1,133,004 | $544,765 |
| 2024 | $19,905 | $1,644,872 | $1,110,788 | $534,084 |
| 2023 | $19,412 | $1,612,620 | $1,089,008 | $523,612 |
| 2022 | $19,208 | $1,581,000 | $1,067,654 | $513,346 |
| 2021 | $18,761 | $1,550,000 | $1,046,719 | $503,281 |
| 2020 | $13,482 | $1,063,728 | $560,447 | $503,281 |
| 2019 | $13,229 | $1,042,871 | $549,458 | $493,413 |
| 2018 | $12,737 | $1,022,423 | $538,684 | $483,739 |
| 2017 | $12,629 | $1,002,376 | $528,122 | $474,254 |
| 2016 | $12,383 | $982,722 | $517,767 | $464,955 |
| 2015 | $12,226 | $967,961 | $509,990 | $457,971 |
| 2014 | $11,153 | $872,331 | $592,313 | $280,018 |
Source: Public Records
Agents Affiliated with this Home
-
Rick Applebaum
-
Paul Espinosa
Seller Co-Listing Agent in 2020
Paul Espinosa
Morgan Skenderian
(714) 206-2688
2 in this area
38 Total Sales
-
Mike Ferraiz
M
Buyer's Agent in 2020
Mike Ferraiz
The Kennedy Group
(714) 598-4818
9 Total Sales
-
Pat Swanson
Seller's Agent in 2014
Pat Swanson
Pat Swanson
(213) 864-2862
55 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW20144226
APN: 404-086-09
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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